Mortgages by Scott Mooresville NC

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Mortgages by Scott Mooresville NC

Concierge Level Mortgage Service By Scott Hastings of Angel Oak Home Loans...

03/14/2024

Our client was in a hurry to close on their home due to a family matter, so we got it done for them in a hurry!

11/27/2023

🏡 𝗙𝗼𝗿 𝘁𝗵𝗲 𝘄𝗲𝗲𝗸 𝗼𝗳 𝗡𝗼𝘃𝗲𝗺𝗯𝗲𝗿 𝟮𝟳, 𝟮𝟬𝟮𝟯

𝗟𝗮𝘀𝘁 𝗪𝗲𝗲𝗸'𝘀 𝗠𝗼𝗿𝘁𝗴𝗮𝗴𝗲 𝗥𝗮𝘁𝗲 𝗥𝗲𝗰𝗮𝗽: 𝗥𝗮𝘁𝗲𝘀 𝗿𝗲𝗺𝗮𝗶𝗻 𝘀𝘁𝗲𝗮𝗱𝘆 👍
As was expected, rates were basically unchanged last week when markets slowed down over the Thanksgiving holiday. After reaching the highest rates in decades in October, rates have fallen in November on expectations that the Fed is done raising rates.

𝗧𝗵𝗶𝘀 𝗪𝗲𝗲𝗸'𝘀 𝗠𝗼𝗿𝘁𝗴𝗮𝗴𝗲 𝗥𝗮𝘁𝗲 𝗙𝗼𝗿𝗲𝗰𝗮𝘀𝘁: 𝗥𝗮𝘁𝗲𝘀 𝗰𝗼𝘂𝗹𝗱 𝗶𝗺𝗽𝗿𝗼𝘃𝗲 𝘀𝗹𝗶𝗴𝗵𝘁𝗹𝘆 👍
This week it is likely to see rates once again remain relatively unchanged or improve slightly, depending on how some of the economic data comes in for the week including the Fed's favorite inflation gauge. However, it is next week's labor market data and the following week's inflation data and Fed meeting that hold the most potential for rates to improve through the middle of December.

🗓️ 𝗪𝗵𝗮𝘁'𝘀 𝗮𝗳𝗳𝗲𝗰𝘁𝗶𝗻𝗴 𝗿𝗮𝘁𝗲𝘀 𝘁𝗵𝗶𝘀 𝘄𝗲𝗲𝗸:
- Economic data: This week includes consumer confidence data, a revision of the 3rd quarter GDP, and the PCE inflation report along with lots of housing data. Signs of a slowing economy could help rates hold steady, while signs of economic strength could pressure rates to creep slightly higher.
- The Fed: Markets believe the Fed is done raising rates, and are looking for signs of when the Fed will begin to actually cut rates in 2024.

11/20/2023

𝗙𝗼𝗿 𝘁𝗵𝗲 𝘄𝗲𝗲𝗸 𝗼𝗳 𝗡𝗼𝘃𝗲𝗺𝗯𝗲𝗿 𝟮𝟬, 𝟮𝟬𝟮𝟯

𝗟𝗮𝘀𝘁 𝗪𝗲𝗲𝗸'𝘀 𝗠𝗼𝗿𝘁𝗴𝗮𝗴𝗲 𝗥𝗮𝘁𝗲 𝗥𝗲𝗰𝗮𝗽: 𝗥𝗮𝘁𝗲𝘀 𝗺𝗼𝘃𝗲𝗱 𝗹𝗼𝘄𝗲𝗿 👍
Better than expected consumer and wholesale inflation data as well as a drop in retail sales for the first time in seven months helped mortgage rates improve for the week. Rates now reflecting a belief that the Fed is done hiking rates, and will begin cuts sometime in early 2024 as the economy slows down and the labor market softens.

𝗧𝗵𝗶𝘀 𝗪𝗲𝗲𝗸'𝘀 𝗠𝗼𝗿𝘁𝗴𝗮𝗴𝗲 𝗥𝗮𝘁𝗲 𝗙𝗼𝗿𝗲𝗰𝗮𝘀𝘁: 𝗥𝗮𝘁𝗲𝘀 𝗹𝗶𝗸𝗲𝗹𝘆 𝘁𝗼 𝗵𝗼𝗹𝗱 𝘀𝘁𝗲𝗮𝗱𝘆 👍
This holiday shortened week is likely to see mortgage rates remain relatively unchanged, although we may see some movement from day-to-day. Markets and lenders will be closed on Thursday for Thanksgiving, and markets will close early on Friday. If we do see rates move this week it will be more due to the holiday and low trading volume in markets than a shift in the outlook, and we should see a return to normal next week.

𝗪𝗵𝗮𝘁'𝘀 𝗮𝗳𝗳𝗲𝗰𝘁𝗶𝗻𝗴 𝗿𝗮𝘁𝗲𝘀 𝘁𝗵𝗶𝘀 𝘄𝗲𝗲𝗸:
- Economic data: There are only a couple of small reports this week that are unlikely to cause too much of a stir for mortgage rates.
- Thanksgiving: This is usually a quiet week around the holiday, as most traders take off after Wednesday morning's data for a long weekend.

11/14/2023

🤔 𝗪𝗵𝗮𝘁 𝗱𝗼𝗲𝘀 𝗶𝗻𝗳𝗹𝗮𝘁𝗶𝗼𝗻 𝗵𝗮𝘃𝗲 𝘁𝗼 𝗱𝗼 𝘄𝗶𝘁𝗵 𝗺𝗼𝗿𝘁𝗴𝗮𝗴𝗲 𝗿𝗮𝘁𝗲𝘀 𝗱𝗿𝗼𝗽𝗽𝗶𝗻𝗴? 🥳

This morning's inflation report showed inflation hit a two-year low, which makes it unlikely the Fed will need to raise rates.

𝗧𝗵𝗮𝘁 𝗵𝗲𝗹𝗽𝗲𝗱 𝗺𝗼𝗿𝘁𝗴𝗮𝗴𝗲 𝗿𝗮𝘁𝗲𝘀 𝗺𝗼𝘃𝗲 𝗹𝗼𝘄𝗲𝗿.

How much lower? It depends on your situation.

✅ If you were following rates, thinking of buying but waiting for rates to fall, or talking about maybe refinancing to wrap up some debt and save some money each month... let's talk.

Text me, call me, DM me, or reply here. I'm here to help. My contact info is in my profile.

11/13/2023

🏡 𝗙𝗼𝗿 𝘁𝗵𝗲 𝘄𝗲𝗲𝗸 𝗼𝗳 𝗡𝗼𝘃𝗲𝗺𝗯𝗲𝗿 𝟭𝟯, 𝟮𝟬𝟮𝟯

𝗟𝗮𝘀𝘁 𝗪𝗲𝗲𝗸'𝘀 𝗠𝗼𝗿𝘁𝗴𝗮𝗴𝗲 𝗥𝗮𝘁𝗲 𝗥𝗲𝗰𝗮𝗽: 𝗥𝗮𝘁𝗲𝘀 𝗺𝗼𝘃𝗲𝗱 𝗵𝗶𝗴𝗵𝗲𝗿 👎
Mortgage rates crept higher last week as markets reacted to Fed Chair Jerome Powell saying Thursday that he and other Fed officials remain committed to bringing inflation down to 2% and would not hesitate to raise policy rates further as needed to do so.

𝗧𝗵𝗶𝘀 𝗪𝗲𝗲𝗸'𝘀 𝗠𝗼𝗿𝘁𝗴𝗮𝗴𝗲 𝗥𝗮𝘁𝗲 𝗙𝗼𝗿𝗲𝗰𝗮𝘀𝘁: 𝗥𝗮𝘁𝗲𝘀 𝗺𝗮𝘆 𝗯𝗲 𝘃𝗼𝗹𝗮𝘁𝗶𝗹𝗲 𝗮𝗻𝗱 𝗰𝗼𝘂𝗹𝗱 𝗺𝗼𝘃𝗲 𝗵𝗶𝗴𝗵𝗲𝗿 ⚠️
This week brings inflation data and retail sales data which both will have an effect on mortgage rates for the week. If data comes in favorably, it could help rates drop a bit, however the current outlook shows that inflation could come in higher than expected and pressure mortgage rates higher.

🗓️ 𝗪𝗵𝗮𝘁'𝘀 𝗮𝗳𝗳𝗲𝗰𝘁𝗶𝗻𝗴 𝗿𝗮𝘁𝗲𝘀 𝘁𝗵𝗶𝘀 𝘄𝗲𝗲𝗸:
- Economic data: There are concerns that consumer inflation readings on Tuesday could come in higher than expected due to a change in how health care costs are accounted for, which would cause markets to react in a way that could push mortgage rates higher. Wednesday brings wholesale inflation data, although this is generally less of a market mover. Also, if retail sales data on Wednesday shows a strong economy, it could increase concerns about a possible Fed rate hike to come in December, which would pressure mortgage rates higher.

11/09/2023

Christopher Reshetar out on a master class event yesterday at TopGolf. Chris spoke about the growth of his company and that it has attracted people because the focus is doing the right thing for the client at all times. This is also why I chose to align Mortgages by Scott as a division of CTR Mortage Brokers.

Several of my friends and agents attended along with over 100 others. With the right vision and mindset 2024 will be a great year for Charlotte real estate !

Address

121 Rolling Hill Road
Mooresville, NC
28117

Website

http://www.mortgagesbyscott.com/

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