Matt DeLuzio, Mortgage Lender NMLS 1019875

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United States
Westminster, CO
Matt DeLuzio, Mortgage Lender NMLS 1019875

Equal Housing Lender
Producing Branch Manager
https://www.spirefinancial.com/mdeluzio/
(1)

Providing opportunities for low rates, hassle free mortgages for buying or refinancing a home throughout CO.

03/18/2024

🏡 𝗙𝗼𝗿 𝘁𝗵𝗲 𝘄𝗲𝗲𝗸 𝗼𝗳 𝗠𝗮𝗿𝗰𝗵 𝟭𝟴, 𝟮𝟬𝟮𝟰

𝗟𝗮𝘀𝘁 𝗪𝗲𝗲𝗸'𝘀 𝗠𝗼𝗿𝘁𝗴𝗮𝗴𝗲 𝗥𝗮𝘁𝗲 𝗥𝗲𝗰𝗮𝗽: 𝗥𝗮𝘁𝗲𝘀 𝗺𝗼𝘃𝗲𝗱 𝗵𝗶𝗴𝗵𝗲𝗿 👎
Mortgage rates moved quite a bit higher last week, giving up all of the gains seen earlier in March. Rates moved higher due to hotter inflation and strong economic data that make it much less likely the Fed will need to cut rates anytime soon.

𝗧𝗵𝗶𝘀 𝗪𝗲𝗲𝗸'𝘀 𝗠𝗼𝗿𝘁𝗴𝗮𝗴𝗲 𝗥𝗮𝘁𝗲 𝗙𝗼𝗿𝗲𝗰𝗮𝘀𝘁: 𝗥𝗮𝘁𝗲𝘀 𝘄𝗶𝗹𝗹 𝗯𝗲 𝘃𝗼𝗹𝗮𝘁𝗶𝗹𝗲 𝗮𝗻𝗱 𝗰𝗼𝘂𝗹𝗱 𝗺𝗼𝘃𝗲 𝗵𝗶𝗴𝗵𝗲𝗿 ⚠️
This week has the potential to open the door for rates to move even higher, or to settle back down a bit, depending on how Wednesday's Fed meeting and press conference play out.

🗓️ 𝗪𝗵𝗮𝘁'𝘀 𝗮𝗳𝗳𝗲𝗰𝘁𝗶𝗻𝗴 𝗿𝗮𝘁𝗲𝘀 𝘁𝗵𝗶𝘀 𝘄𝗲𝗲𝗸:
- Fed meeting: Wednesday at 2pm ET, the Fed is expected to leave policy rates unchanged, but will signal what may come at future meetings in its policy statement.
- Fed rate forecasts: At this meeting, Fed members will make their anonymous forecasts for where policy rates will end this year and the next few years. The last projection was for three Fed rate cuts in 2024, and if that falls to two cuts it could pressure mortgage rates higher.
- Powell press conference: Fed Chair Jerome Powell's press conference at 2:30pm ET Wednesday is likely to cause volatility in mortgage rates, causing lender repricing and setting the direction for rates over the next few weeks.

03/14/2024

New 5.0-star Review: "Simply put. WORK WITH MATT. Him and his team are amazing. Highly recommended."

03/14/2024

New 5.0-star Review: "Keenan's tenacity and expertise as a lender are unparalleled. Despite two previous denials from other institutions, he successfully secured approval for my new home loan. Well done Keenan. YC"

03/14/2024

New 5.0-star Review: "Matt was great to work with from start to finish. This is our third house purchase and I have never seen such through research and detail on securing funding for a home purchase. We felt very prepared every step of the way. Matt's team was very responsive and helpful as well. His personalized videos were a great way to hear directly from him without having to arrange schedules during a busy time of home buying. Will 100% use Matt next time!"

03/12/2024

New 5.0-star Review: "Service, communication, and expertise were outstanding! It was a pleasure working alongside them and I’m excited to continue our partnership!"

03/11/2024

🏡 𝗙𝗼𝗿 𝘁𝗵𝗲 𝘄𝗲𝗲𝗸 𝗼𝗳 𝗠𝗮𝗿𝗰𝗵 𝟭𝟭, 𝟮𝟬𝟮𝟰

𝗟𝗮𝘀𝘁 𝗪𝗲𝗲𝗸'𝘀 𝗠𝗼𝗿𝘁𝗴𝗮𝗴𝗲 𝗥𝗮𝘁𝗲 𝗥𝗲𝗰𝗮𝗽: 𝗥𝗮𝘁𝗲𝘀 𝗶𝗺𝗽𝗿𝗼𝘃𝗲𝗱 👍
Mortgage rates remained unchanged for much of last week, moving lower Thursday and Friday on economic and labor market data. Although more jobs were created last month than expected, prior months were revised to have less jobs created than originally reported, with higher unemployment and lower wages in February.

𝗧𝗵𝗶𝘀 𝗪𝗲𝗲𝗸'𝘀 𝗠𝗼𝗿𝘁𝗴𝗮𝗴𝗲 𝗥𝗮𝘁𝗲 𝗙𝗼𝗿𝗲𝗰𝗮𝘀𝘁: 𝗥𝗮𝘁𝗲𝘀 𝘄𝗶𝗹𝗹 𝗯𝗲 𝘃𝗼𝗹𝗮𝘁𝗶𝗹𝗲 𝗮𝗻𝗱 𝗰𝗼𝘂𝗹𝗱 𝗺𝗼𝘃𝗲 𝗵𝗶𝗴𝗵𝗲𝗿 ⚠️
This week has a few rate moving reports, with Tuesday's inflation data being the biggest. If you are in process with a mortgage application, you may want to talk with your mortgage pro about locking Monday ahead of this data. There is less risk for loans closing April or later.

🗓️ 𝗪𝗵𝗮𝘁'𝘀 𝗮𝗳𝗳𝗲𝗰𝘁𝗶𝗻𝗴 𝗿𝗮𝘁𝗲𝘀 𝘁𝗵𝗶𝘀 𝘄𝗲𝗲𝗸:
- Inflation data: Tuesday AM brings the CPI inflation data, and traders anticipating it could come in showing inflation continued to heat up in February. Last month's report showed hotter inflation, and mortgage rates moved higher and didn't fall again for three weeks. Thursday brings wholesale inflation, which has much less effect on rates.
- Other economic data: Thursday and Friday bring other economic reports like consumer sentiment and retail sales that could influence mortgage rates to end the week.

03/08/2024

📈 Mortgage Rates Update: This week, mortgage rates have seen a positive shift, dropping by .125% to .25%. The market's confidence in a more relaxed Federal Reserve monetary policy has been a driving force behind this improvement. Despite slight job creation surpassing expectations in the latest BLS report, revisions from previous months and an unexpected rise in the unemployment rate to 3.9% have bolstered bond market sentiments. As long as CPI doesn’t throw a curveball next week, we're optimistic about continued improvement.

💼 Federal Reserve Outlook: Recent remarks from Federal Reserve Chairman Jerome Powell hint at a forthcoming easing of monetary policy, with potential rate cuts expected in the latter half of the year. This alignment with market expectations provides crucial clarity for investors, signaling a potential shift in the Fed's approach.

🏠 First-Time Home Buyer Insights: Did you know? Nearly 47% of mortgage originations last year were from first-time home buyers, highlighting their significant role in stabilizing the housing market. Despite carrying higher housing debt, first-time buyers allocate more income to housing compared to other demographics, which bodes well for market stability.

🏡 White House Proposal: The White House has proposed a $10k tax credit aimed at sellers of starter homes, underscoring the administration's focus on addressing inventory shortages. While the outcome remains uncertain, this initiative reflects heightened attention on housing-related challenges.

📆 Upcoming Market Events: Keep an eye out for the Consumer Price Index (CPI) release next week, scheduled for Tuesday. Given its historical impact on market volatility, we'll be closely monitoring for any unexpected fluctuations and keeping you informed.

💡 Innovative Seller Solutions: In response to the need for seller contingencies, we've developed innovative solutions to facilitate non-contingent transactions. Our latest program allows sellers to transfer their equity to their new home, alleviating the burden of bridge financing and current house costs. By omitting current mortgage debt and bridge loan debt from debt-to-income ratios, we're streamlining the qualification process for our clients.

🤝 Let's Strategize: There are plenty of challenges in the market, but we're here to help navigate them together. Reach out for a strategy call, and let's find tailored solutions to meet your needs!

Link to White House briefing:

03/05/2024

New 5.0-star Review: "Great experience. Communication was quick and concise, very smooth closing. My Buyer could not have completed this very complicated transaction without this specific lender. Bravo."

03/04/2024

🏡 𝗙𝗼𝗿 𝘁𝗵𝗲 𝘄𝗲𝗲𝗸 𝗼𝗳 𝗠𝗮𝗿𝗰𝗵 𝟰, 𝟮𝟬𝟮𝟰

𝗟𝗮𝘀𝘁 𝗪𝗲𝗲𝗸'𝘀 𝗠𝗼𝗿𝘁𝗴𝗮𝗴𝗲 𝗥𝗮𝘁𝗲 𝗥𝗲𝗰𝗮𝗽: 𝗥𝗮𝘁𝗲𝘀 𝘄𝗲𝗿𝗲 𝘂𝗻𝗰𝗵𝗮𝗻𝗴𝗲𝗱 👍
Similar to last week, mortgage rates moved slightly higher through the middle of the week before dropping back on Thursday and Friday to end the week unchanged.

𝗧𝗵𝗶𝘀 𝗪𝗲𝗲𝗸'𝘀 𝗠𝗼𝗿𝘁𝗴𝗮𝗴𝗲 𝗥𝗮𝘁𝗲 𝗙𝗼𝗿𝗲𝗰𝗮𝘀𝘁: 𝗥𝗮𝘁𝗲𝘀 𝗰𝗼𝘂𝗹𝗱 𝗶𝗺𝗽𝗿𝗼𝘃𝗲 𝗯𝘂𝘁 𝘁𝗵𝗲𝗿𝗲 𝗶𝘀 𝗿𝗶𝘀𝗸 ⚠️
It may be overly optimistic, but we think rates could improve this week with some help from labor market data and the Fed. However, this data could also push rates higher if it comes in showing a stronger labor market and economy. Remember, mortgage rates can only move lower once markets anticipate Fed rate cuts are more likely to come earlier in the year in June or possibly May, which is not the case right now.

🗓️ 𝗪𝗵𝗮𝘁'𝘀 𝗮𝗳𝗳𝗲𝗰𝘁𝗶𝗻𝗴 𝗿𝗮𝘁𝗲𝘀 𝘁𝗵𝗶𝘀 𝘄𝗲𝗲𝗸:
- Economic data: This week is full of labor market data, starting on Wednesday and wrapping up with Friday's big BLS jobs report. Last month's BLS report showed unexpected labor market strength and sent mortgage rates moving higher through February. Hopefully this month we see revisions to last month's data that shows a much softer labor market.
- The Fed: Fed Chair Jerome Powell will testify in front of Congress this week, as he does twice a year. His comments Wednesday could affect mortgage rates this week.

02/26/2024

🏡 𝗙𝗼𝗿 𝘁𝗵𝗲 𝘄𝗲𝗲𝗸 𝗼𝗳 𝗙𝗲𝗯𝗿𝘂𝗮𝗿𝘆 𝟮𝟲, 𝟮𝟬𝟮𝟰

𝗟𝗮𝘀𝘁 𝗪𝗲𝗲𝗸'𝘀 𝗠𝗼𝗿𝘁𝗴𝗮𝗴𝗲 𝗥𝗮𝘁𝗲 𝗥𝗲𝗰𝗮𝗽: 𝗥𝗮𝘁𝗲𝘀 𝘄𝗲𝗿𝗲 𝘂𝗻𝗰𝗵𝗮𝗻𝗴𝗲𝗱 👍
Mortgage rates crept higher through the week last week, but a strong performance on Friday helped to end the week basically unchanged. Faced with the current rate climate, that's a win for the week.

𝗧𝗵𝗶𝘀 𝗪𝗲𝗲𝗸'𝘀 𝗠𝗼𝗿𝘁𝗴𝗮𝗴𝗲 𝗥𝗮𝘁𝗲 𝗙𝗼𝗿𝗲𝗰𝗮𝘀𝘁: 𝗥𝗮𝘁𝗲𝘀 𝗰𝗼𝘂𝗹𝗱 𝗺𝗼𝘃𝗲 𝗵𝗶𝗴𝗵𝗲𝗿 👎
This week there's a lot of economic data that markets will be watching that could push mortgage rates higher. If the economic data points to a strong economy, that means it is less likely the Fed will cut rates anytime soon... and that means mortgage rates will suffer for the week.

🗓️ 𝗪𝗵𝗮𝘁'𝘀 𝗮𝗳𝗳𝗲𝗰𝘁𝗶𝗻𝗴 𝗿𝗮𝘁𝗲𝘀 𝘁𝗵𝗶𝘀 𝘄𝗲𝗲𝗸:
- Economic data: This week has a full calendar, with reports every day as well as Treasury auctions through the week that could influence markets and affect mortgage rates. The biggest reports come out Thursday and Friday.
- Month's end: The underlying markets that set mortgage rates could be affected by traders positioning portfolios for month's end.
- The Fed: Rates hit their recent best levels in December when markets thought the Fed would be forced to cut in March or May to avoid doing damage to the economy, but mortgage rates have moved higher now that markets are speculating the Fed won't cut till June or even July.

02/22/2024

New 5.0-star Review: ""

02/20/2024

🏡 𝗙𝗼𝗿 𝘁𝗵𝗲 𝘄𝗲𝗲𝗸 𝗼𝗳 𝗙𝗲𝗯𝗿𝘂𝗮𝗿𝘆 𝟮𝟬, 𝟮𝟬𝟮𝟰

𝗟𝗮𝘀𝘁 𝗪𝗲𝗲𝗸'𝘀 𝗠𝗼𝗿𝘁𝗴𝗮𝗴𝗲 𝗥𝗮𝘁𝗲 𝗥𝗲𝗰𝗮𝗽: 𝗥𝗮𝘁𝗲𝘀 𝗺𝗼𝘃𝗲𝗱 𝗵𝗶𝗴𝗵𝗲𝗿 👎
Mortgage rates moved higher again last week, this time due to inflation coming in higher than expected. Inflation is not good for rates, and the report was made worse because it makes it unlikely the Fed will consider cutting rates till at least May and more likely June.

𝗧𝗵𝗶𝘀 𝗪𝗲𝗲𝗸'𝘀 𝗠𝗼𝗿𝘁𝗴𝗮𝗴𝗲 𝗥𝗮𝘁𝗲 𝗙𝗼𝗿𝗲𝗰𝗮𝘀𝘁: 𝗥𝗮𝘁𝗲𝘀 𝗺𝗮𝘆 𝗰𝗿𝗲𝗲𝗽 𝗵𝗶𝗴𝗵𝗲𝗿 👎
This week is likely to see mortgage rates move slightly day-to-day and possibly creep a bit higher by the end of the week. Rates will not drop significantly from here until we see some data showing the labor market and economy is weakening and inflation is falling, and we won't see that data until at least March.

🗓️ 𝗪𝗵𝗮𝘁'𝘀 𝗮𝗳𝗳𝗲𝗰𝘁𝗶𝗻𝗴 𝗿𝗮𝘁𝗲𝘀 𝘁𝗵𝗶𝘀 𝘄𝗲𝗲𝗸:
- Economic data: The minutes from last month's Fed meeting come out on Wednesday along with some economic reports on Thursday. There is nothing on Tuesday or Friday, and markets were closed on Monday.
- The Fed: Mortgage rates are not set by the Fed, but are strongly influenced by Fed actions. Rates were lower when markets were forecasting Fed rate cuts to start in March, and have moved higher as the chances of that happening have grown slim. Speculation now calls for Fed rate cuts to most likely start in June.

Address

1120 W 122nd Avenue, Suite 103
Westminster, CO
80234

Telephone

+17206166490

Website

https://www.spirefinancial.com/mdeluzio/

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