Gary Powell, Caliber Home Loans, Inc. NMLS #453283

03/16/2023

Does Credit Suisse qualify as a "big bank" anymore?  The company could be argued to be circling the drain for many months, but nonetheless holds hundreds of billions in assets.  If it failed, it would be a big deal, and financial markets asked that question in a very seri...

03/02/2023

FHA making some big news on the MIP (mortgage insurance premium)

02/01/2023

Today at 2pm, the Fed chair will announce a possible rate increase, most "EXPERTS" expect a.25% to .50% increase. If you have clients on the fence about locking, this may be a good time to lock a loan. The article attached simply is saying volatility is in the air.

Mortgage rates have been roughly in line with last week's latest levels at the beginning of the current week.  That means they're fairly close to the 4 month lows seen 2 weeks ago with the average lender able to offer conventional 30yr fixed rates in the low 6% range on top tier sce...

01/19/2023

We are in a weird situation, bad news for the economy (Inflation and recession fears) is good news for mortgage rates

Mortgage rates moved down at a fairly quick pace today following a slew of rate-friendly headlines.  Technically, the headlines were good for the bond market, but bonds are primarily responsible for determining day-to-day changes in mortgage rates. The first development arrived late last ni...

01/18/2023

things are looking up. but actually down. rates continue their slide into good territory

loan application volume, increased 27.9 percent on a seasonally adjusted basis The Refinance Index rose 34 percent week-over-week but remains 81 percent below its level during the same week one year ago. Refinance applications made up 31.2 percent of those submitted during the week compared to 30.7....

01/05/2023

This is a great time to learn about how a Temporary Buydown can help your buyers and sellers. Caliber Home Loans is also paying for a 1 year buydown for all buyers. contact me for more information

11/29/2022

2023 Conforming Loan limit looks to be $726,200

​​​​​​Washington, D.C. – The Federal Housing Finance Agency (FHFA) today announced the conforming loan limit values (CLLs) for mortgages to be acquired by Fannie Mae and Freddie Mac (the Enterprises) in 2023. In most of the United States, the 2023 CLL value for one-unit properties wi...

11/29/2022

Caliber's Rate Rescue and Rate Rollback:

Caliber Rate Rescue is a temporary buydown program that offers borrowers lower mortgage payments for the first
year of the mortgage – paid by us!
Caliber Rate Rollback is our refinance program designed to save borrowers money on their refi transaction in the
future. On top of continuing to save on monthly payments with a lower rate, the lender fees are paid for - on us!

Rate Rescue Advantages:
1. Save money on interest for 12 months.
2. Experience lower monthly payments for a year.
3. Boost buying power.
4. Free up money to fix up or furnish the home.
5. Incentive sellers to accept offers without pricing
concessions.
Contact me to take advantage of Caliber Rate Rescue!

10/26/2022

The good news is rates have slightly come down a small bit but still much higher than anyone likes. It will get better once inflation is tamed

Mortgage rates have more than doubled over the past year, pushing many prospective homebuyers out of the market, even as home prices remain near a record-high.

10/03/2022

Realtors, before you drop that home price , try a seller rate buy down. It’s a triple WIN!!! Reach out to me for specifics

09/14/2022

We have changed our Conforming loan limit to $715,000. if you have any clients whose current loan amount is above $647,200 (current conforming limit) and doing a jumbo loan or high balance loan for their purchase, reach out and if under $715,000 we can do a conforming loan which will mean a better rate.

09/08/2022

This seems like a more normal growth rate. The crazy upward movement in housing can be a good thing but I think (my opinion only) a slower growth rate but steady is a much more realistic pace and best in the long run.

Home prices nationwide, including distressed sales, increased year over year by 15.8% in July 2022 compared with July 2021