German Torres Jr-Mortgage Loan Originator-NMLS No.2304300

08/16/2025

05/02/2024

The Fed left policy rates unchanged at their May meeting. Fed Chair Powell said he expects reaching the goal of 2% inflation to take longer than previously thought. As home prices rise, the possibility of lower rates later may not be enough to make mortgage payments more affordable. If you can afford a purchase now, this may be the time to act. Please reach out if I can assist. Fidelity Funding Mortgage Group is an Equal Housing Lender.

01/19/2024

I wanted to provide some transparency given the current market. I have had people reach out wondering why the Freddie Mac rate survey is reporting a decrease in interest rates while other reports show an increase in rates this week (Mortgage News Daily). Freddie’s survey showed a decrease from 6.66% to 6.60% this week.

It’s important to understand that Freddie’s survey is a weekly report based on a 5 day average from Thursday-Wednesday and released the next day. This could be misleading when analyzing rates on a daily basis (which you can see based on the chart).

Keep in mind, that each source uses different methodologies. For the most part, these rates are based on applications with very strong credit scores and large down payments (750+ FICO score and atleast 20% downpayment).

Overall, these are accurate sources but the way they are presented can be misleading depending on how rates have moved in a given week.

01/16/2024

📈 Market Update: January 16, 2024 📈

As we are half way through the first month of the year let’s dive into the latest market insights to keep you in the loop.

📊 CPI Report Recap: December 2023

Last Thursday’s Consumer Price Index (CPI) report showed a 0.3% rise in consumer prices for December 2023. This uptick, slightly higher than anticipated, pushed the annual rate to 3.4%. 📈 The flow of economic indicators like the CPI are crucial in understanding market dynamics. If you are not familiar with the CPI report, it measures the monthly change in prices paid by U.S. consumers which is used to measure inflation.

📉📈 Mortgage Rate Movement

As of last week, the average 30-year fixed rate closed at 6.69%. After a relaxing long weekend, we’re now observing a slight increase, with interest rates reaching 6.77%. Overall, in the last month, interest rates have consolidated in a range between 6.6-6.8% (see second slide). Market fluctuations are a natural part of the journey, and staying updated empowers you to make strategic financial choices.

🏡 What This Means for You

As long as inflation is under control and continues downward in the long run, we can anticipate rates to decrease. However, if we lose control of inflation again, then we can see rates start to rise. It is important to continue to monitor these reports monthly to stay informed on where the market is heading.

Your financial journey is our priority. Whether you’re a potential homebuyer or considering refinancing, I’m here to provide guidance tailored to your needs. Feel free to reach out with any questions or to discuss your real estate goals!

12/29/2023

I hope everyone has enjoyed their holidays as we look to close out 2023. Rates continue to trend downward following news that the Feds will begin cutting rates in 2024. Rates have stabilized between 6.6%-6.7% the last few weeks.

It seems like 2024 will be a positive year in terms of where rates are heading. If you are considering purchasing a home feel free to dm or call if you have any questions regarding the process!

11/27/2023

📉 MARKET UPDATE 🏡

I hope everyone had a fantastic Thanksgiving celebration surrounded by loved ones and good food! 🦃 As we dive back into the swing of things, I wanted to share some updates on the current state of the mortgage market.

📊Mortgage Rates Snapshot: October 1st-November 27th

Take a look at the first image! 30-year fixed rate mortgages have been on a steady decline since mid October. In mid-October, we saw a peak at 8.03%, creating some waves in the market. However, the tides have shifted, and as of now, we’re witnessing a more favorable average rate of 7.35%

📉U.S 10-year Treasury Trends

The second image shows the trend of the U.S 10-year Treasury. Mortgage rates typically follow a similar trend as the 10-year Treasury, however, there are multiple factors that can impact mortgage rates. You’ll see that back in mid-October, both the 10 year and mortgage rates reached their peak——4.988% for the 10-year and has steadily declined and currently sits at 4.39%.

⏳What does this mean for you?

Whether you’re a potential homebuyer or considering refinancing, these market trends indicate a window of opportunity. The current mortgage landscape is showing signs of stabilization and even improvement. The next Fed meeting is scheduled for December 12-13 and hopefully we receive more positive news!

-As always, I’m here to help answer any questions you may have! Feel free to DM me with any questions.



https://www.mortgagenewsdaily.com

11/06/2023

Congratulations to my client and realtor partner on the closing of this beautiful home! 🏡

If you have any questions regarding the mortgage process or looking to get pre approved, please DM or call!

📲551-346-9009
NMLS #2304300

10/25/2023

Looking to build a new home?

Whether you use an architect or builder plans, a construction loan can finance your new home.

How does it work?
Once all plans, permits and contracts are approved, the lender advances money to your builder on a set schedule. Cash follows each step of the construction process from clearing the land through completion.

How much does it cost?
As with any mortgage loan, costs vary based on loan amount, customary closing expenses and interest rates. Interest charges accrue only on the outstanding balance. That means monthly interest charges start low and advance as construction progresses.

What happens when the house is done?
This depends on your loan.
If you have a simple construction loan, you will pay it off by refinancing with a new mortgage loan.
Construction-to-permanent loans make this transition automatically. The first stage behaves just as a construction loan then is modified into a conventional loan once your home is complete.

If you have any questions regarding construction loans, please shoot me a DM or give me a call!

📲561-346-9009

10/18/2023

Earlier this week, HUD announced a new policy that will allow lenders to count income from Accessory Dwelling Units (ADUs)

With affordability and supply issues in today’s market, this policy will help first-time homebuyers and intergenerational families to qualify for FHA financing for properties with ADUs.

Key Points:
🔸 Allow 75% of the estimated ADU rental income for some borrowers to qualify for an FHA-insured mortgage on a property with an existing ADU.

🔸 Use 50% of the estimated rental income, for some borrowers, from a new ADU the borrower plans to attach to an existing structure, such as in a garage or basement conversion

🔸 Add ADUs to the types of improvements that can be financed under FHA’s mortgages for new construction

https://www.hud.gov/press/press_releases_media_advisories/hud_no_23_237

If you have any questions please DM me or give me a call!

📲561-346-9009