John Stratford - Mortgage Equity Partners

01/30/2024

12/15/2023

Quick Rate update -

November through early December saw a period of sustained rate declines. In short - we went from above 8% to 7.25%ish for top tier mortgage scenarios. Welcome news for Borrowers- and those who originate mortgages!!! This week was full of economic data which had the chance to move rates sharply higher or lower and it did not disappoint. Inflation data showed continued easing and then the Fed completely shifted their tone Wednesday afternoon following their 2 day meeting. They all but declared victory on inflation and started talking about rate cuts through 2024, 2025 and 2026. These cuts have been widely speculated but to hear it from Powell himself was quite a moment. The market thought so as well. Treasury yields and mortgage rates have dropped at an incredible pace. We are now in the mid 6’s for top tier scenarios. Better news - so far the initial rally has held true. Hopefully there is some stabilization and then more favorable data through the early part of 2024 which could (should?) send rates further down. We are not that far away from rates returning to the 5’s. Always here for honest answers to your questions so bring them on.

12/02/2023

The FHFA announced Tuesday that conforming loan limits will rise higher than expected for 2024. This gives access to more loan options, with lower down payment requirements to more people. We have already made the change and you can access these programs today!

11/30/2023

Cheating the system 👇

08/21/2023

Four GREAT clients all gave me 5- Star reviews in the last week. I’d love to help you, your clients, friends or family.

07/12/2023

Four months in and I couldn’t be happier with Mortgage Equity Partners. It’s a tough market but the support for me, my clients and Realtors has been incredible. Some great things on the horizon as well.

04/17/2023

In support of our Realtors we have rolled out an incredible program. Tell your clients not to wait for rates to drop to buy. We’ve got you!

Mortgage Equity Partners (MEP) releases our Rate Protection Program (RPP). In short - if you close a Purchase Transaction with me we will give you a $2,000 credit towards your future refinance when rates drop (any time 6-18 months post closing on the purchase loan). Borrowers receive a certificate with their pre-approval letter. This is effective NOW through August. Effectively makes their refinance cost-free!

04/12/2023

Inflation data again moved in the right direction today - LOWER. Is it enough to stop the Fed from raising by .25 in a couple weeks? Probably not. BUT - we’ve already seen mortgage rates moving lower and that should continue, with a potential steeper drop by mid-May. Right now I’m 6.375% with 0 points and 5.875% with 1 point for top tier Conventional loans and 6.25% with 0 for FHA/VA.

Playing cards face up as always.

03/28/2023

As mortgage rates continue to drift lower one thing to keep in mind is the benefit of a debt-consolidation refinance. Your home’s equity has certainly increased the past few years. Many Americans have taken on quite a bit of high interest debt in the form of credit cards and personal loans - driving their monthly expenses through the roof. I can help lower that significantly and would love to do a cost-free analysis tailored just for you. Just call, message, email or text and I’ll take it from there.

03/23/2023

MHS Career Day 2023. Always great to talk to these very impressive Sophomores. Tough draw though putting me next to the Airline Pilot!

03/22/2023

First Responders have been critical to my family’s care in recent years and I’m happy to be able to give something back.