1/26/2022

We are back in tax season again; does it ever end! I feel like we were just here a few months ago.

What is important this year to keep your eye on? Did you receive any stimulus payments? Did you receive any child tax payments? If you receive any letters at all in the mail from the IRS about payments that you received, make sure to keep copies of those letters and provide them to your tax preparer. 

Today we had Denise Taylor, our Tax Grandma on the show. She talked to us about your online IRS account and the new iD.me that you must verify through to get to your account. She also talked about what you need to do with those letters, what do you do if the letters show income that you did not receive. 

This was a very beneficial episode for everyone, whether you are a homeowner or not. I would highly recommend tuning in. Mortgage Mom Radio is here to help educate you on anything that could impact you or your ability to purchase a home or refinance a home. Your tax returns are an essential part. 

Check out the Mortgage Mom Radio online merch store! The beer mugs are insane! SHOP NOW

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We are LIVE on YOUTUBE every Monday and Wednesday @ 1PM PST. Interact with us LIVE while we record! Ask us your questions right in the comments.

Mortgage Mom Radio equips you with all the mortgage education that you could ask for right at your fingertips! Listen to our Podcast with hours of shows and topics, download our PHONE APP loaded with every mortgage tool that you could need, and finally, watch our HOMEBUYER WORKSHOP SERIES on YouTube!

Debbie Marcoux is licensed by the Department of Financial Protection and Innovations under the California Residential Mortgage Lending Act, NMLS ID 237926, also licensed in AZ-0941504, FL-LO76508, GA-69178, ID-167867, IL-031.0058339, NV-57237, OR, TN-184373, TX, WA-MLO-237926

1/24/2022

Thirty-five percent of first-time buyers and existing homeowners believe they need a down payment of 16% to 20% of the purchase price.

Ten percent believe they need more than 20% for a down payment to purchase a home, according to survey data from the National Association of REALTORS®. With the recent double digit rise in home values, this can be a very difficult hurdle to push through.

The good news, this is not true at all! It is a misperception based on old data from years past. There are low down payment options available. Many might say, “with low down payments you will be forced to pay mortgage insurance.” That might be, however there are many programs with less than 20% down payment that offer options without paying a monthly expense for mortgage insurance.

There are programs that you will pay for mortgage insurance but at only 3-3.5% down payment, it certainly gets you a foot in the door for homeownership. Have you seen the cost of rent in your area lately? If you have been living in the same home with a long-term rental contract, that’s great news for you. Keep your fingers crossed that your landlord does not increase your rents. The current rent vs. own, even with the elevated home prices, is proving to be more beneficial to own a rather than rent.

Market Update: 1/24/2022

Home loan rates ticked up this week to the highest levels in two years. Let’s discuss what’s happened this past week and what to watch in the weeks ahead.

“Up, Up, Up – Can only go up from here” …Up by Shania Twain

Interest Rates Rising Globally

The U.S. bond market took the long weekend to ponder Federal Reserve Monetary Policy and what they will do at next week’s Fed meeting and beyond.

Once the bond market reopened on Tuesday, it came to the realization that rates “can only go up from here.”

Much like 2018, the Fed is hawkish, and they want to raise rates multiple times and possibly “shrink” their balance sheet (sell bonds).

The Treasury market saw the 2-year note yield, an instrument that responds to the notion of Fed rate hikes, spike above 1.00% for the first time in two years. The 10-year yield, which many look to as a rate that ebbs and flows with mortgage rates, ticked up above 1.85%, also the highest in two years.

Mortgage-backed securities (MBS), where home loan rates are derived, dropped sharply again, pushing rates to the highest mark in two years.

The spike here caused ripples abroad, where the German 10-year bund yield crept up to 0.0% for the first time in years. Germany and most of Europe have had negative rates for years and 2022 may be the year that changes.

Oil Prices Spiking

Just when you thought it was safe to fill up your tank, oil has gushed to $86 … a seven-year high. This spike is untimely as we are already dealing with 7% consumer inflation and a market fearing multiple Fed rate hikes to fight inflation. In the absence of oil prices receding, it will lead to more inflation and expectations of even more. On the latter, this is the fear of the Fed, that consumers will get comfortable and expect higher prices in the future. Inflation expectations are self-fulfilling, meaning if we expect higher prices, we get them. The opposite is true.

It’s All About the Fed, Folks

There is no lack of opinions on what the Fed will do this year as it relates to interest rates and their balance sheet. And it is this uncertainty that has caused incredible volatility in the stock and bond markets. The markets are fearing the Fed will hike rates four times or more this year.

Back in 2018, the Fed hiked rates four times and ultimately stocks declined sharply, and housing was disrupted. Subsequently, the Fed spent 2019 reversing all the hawkishness and cut rates in July 2019.

Listening to the Fed is very important as the financial markets and housing are tethered to interest rates, which they control … to some degree. Let’s see what they say and do next week.

Bottom line: The sentiment in the financial markets has shifted very quickly. The Fed went from a tailwind to a headwind as it relates to rates. If you are considering a mortgage, rates are still suppressed thanks to the Fed bond-buying program which will end in March. Don’t delay.

Looking Ahead

As we shared, it’s all about the Fed. And next Wednesday at 2:00 p.m. ET, we shall see what they do and say. And if this big event weren’t enough, the Fed’s favored gauge of inflation, the Core PCE, will be released next week. The most recent reading showed inflation running at 40-year highs. If inflation creeps higher still, the Fed will continue its hawkish tone. Should we see some moderation, it could give the Fed some wiggle room to be less hawkish and adopt some wait-and-see attitude towards multiple rate hikes this year.

Mortgage-backed security (MBS) prices are what determine home loan rates. The chart below is a 10-year view of the Fannie Mae 30-year 3.0% coupon, where currently closed loans are being packaged. As prices go higher, rates move lower and vice versa. Much like January 2018, MBS prices have declined 190+ basis points this month causing a sharp spike in home loan rates. Be careful. Back in 2019, with a similar Fed backdrop, rates crept higher every month as the Fed hikes rates multiple times.

Chart: Fannie Mae 2.0% Mortgage Bond (Friday Jan 21, 2022)

Economic Calendar for the Week of January 24 – January 28

Check out the Mortgage Mom Radio online merch store! The beer mugs are insane! SHOP NOW

Book your free phone consultation today, BOOK NOW

We are LIVE on YOUTUBE every Monday and Wednesday @ 1PM PST. Interact with us LIVE while we record! Ask us your questions right in the comments.

Mortgage Mom Radio equips you with all the mortgage education that you could ask for right at your fingertips! Listen to our Podcast with hours of shows and topics, download our PHONE APP loaded with every mortgage tool that you could need, and finally, watch our HOMEBUYER WORKSHOP SERIES on YouTube!

Debbie Marcoux is licensed by the Department of Financial Protection and Innovations under the California Residential Mortgage Lending Act, NMLS ID 237926, also licensed in AZ-0941504, FL-LO76508, GA-69178, ID-167867, IL-031.0058339, NV-57237, OR, TN-184373, TX, WA-MLO-237926

 

It’s that time again!! You should be receiving your W-2’s in the mail any day! I found a funny meme the other day that was quite true for many. It said, you can easily find a picture from 10 years ago to participate in the then and now photos on Facebook but you can’t find last years W-2 when your loan officer requests it…lol

W-2’s are very important. If you are not self employed or own investment properties, then the Federal and State tax returns that you file are not necessary when completing your home loan application. What is important are your W-2’s. If you are self employed and issue yourself a W-2, both the tax returns and the W-2’s are required. Please make sure that you scan them and save them to your computer or in the cloud where you will easily be able to access them.

Furthermore, your final pay stubs from each year are very important as well. Who would think that the final pay stub received each year should be kept with the copy of your W-2? Most wouldn’t even think to do that. Why do we need them, why are they important? If you receive Bonus income, Overtime, Commission, shift differential, or any other variable payments as part of your annual salary, we need to be able to see the breakdown. We need a two year history, and we need to calculate the average. If we need to order this information from your employer, it can take days sometimes week to receive what we need. If you keep those pay stubs somewhere safe and easy to get to, when we ask for them, you can send them over and we can quickly calculate your income and give you the approval that you are looking for.

Next week, Wednesday, January 26th, 2022, we will have Denise Taylor our Tax Grandma back on the show. It’s 2022 and tax season opens up on January 24th for filing. Are you ready? Do you own a home? Is your CPA telling you that you need deductions? Don’t miss next weeks episode where she will provide us any updates that we need to be aware of tips and tricks for a successful filing year.

How do you watch the show live and ask your questions? Text “MOM” to 844-935-3634. You will receive a link by text just minutes before we get started. You will be able to watch us stream the show live right through YouTube and ask your questions in the comments box. Or Subscribe to our channel. Just search, Mortgage Mom Radio, and make sure to turn on your notifications.

Check out the Mortgage Mom Radio online merch store! The beer mugs are insane! SHOP NOW

Book your free phone consultation today, BOOK NOW

We are LIVE on YOUTUBE every Wednesday @ 1PM PST. Interact with us LIVE while we record! Ask us your questions right in the comments.

Mortgage Mom Radio equips you with all the mortgage education that you could ask for right at your fingertips! Listen to our Podcast with hours of shows and topics, download our PHONE APP loaded with every mortgage tool that you could need, and finally, watch our HOMEBUYER WORKSHOP SERIES on YouTube!

Debbie Marcoux is licensed by the Department of Financial Protection and Innovations under the California Residential Mortgage Lending Act, NMLS ID 237926, also licensed in AZ-0941504, FL-LO76508, GA-69178, ID-167867, IL-031.0058339, NV-57237, OR, TN-184373, TX, WA-MLO-237926

Have you been hearing the words Cryptocurrency, Crypto, Bitcoin, Ethereum, and feel like you have no idea where to start? Is it all foreign to you but you know that you need to do something to get started for your families future? What is a wallet? Why do they talk about cold wallets? What is an exchange? What is the difference between buying from Coinbase and leaving your funds n the exchange or transferring them to a wallet?

Saturday, January 29th @ 1PM PST, Mortgage Mom Radio will be co-hosting an event with Danielle Whitney-Moore of Team Whitney from Keller Williams Rancho Palos Verdes.

Danielle went above and beyond to secure our head speaker Grant Luna with Anderson Business Advisors. Grant has been an active investor and educator in the Bitcoin and Cryptocurrentcy space in multiple ways. HIs experience includes creating an educational webinar series for Valiant Trading, hosting a weekly webinar for Anderson Business Advisors, as well as maintaining an active role with the Orange County Bitcoin Network. Grant particularly enjoys the fundamental aspects of Bitcoin’s history, network structure, and helping people with their technical usage and understanding of Bitcoin.

Mortgage Mom Radio has also secured Tony Cuda, Underwriting Manager of JMJ Financial to talk about Bitcoin and how we can utilize it for down payment and reserves depending on the loan program that you chose. It is important to understand the fundamentals/guidelines of the loan program that you will fit best within and to prepare in advance if you need to utilize the assets that you have built in the cryptocurrency space.

How do you join us for the seminar? TEXT “MOM” to 844-935-3634 to receive a link just minutes before we get started. You can actively participate right through YouTube where I will have the seminar streaming.

You can also go to the seminar in person. Give us a call at the same number, 844-935-3634 and we will get you signed up for the event, as well as the in person details to attend. 

Check out the Mortgage Mom Radio online merch store! The beer mugs are insane! SHOP NOW

Book your free phone consultation today, BOOK NOW

We are LIVE on YOUTUBE every Wednesday @ 1PM PST. Interact with us LIVE while we record! Ask us your questions right in the comments or call in and you will be patched through to the studio. Text “MOM” to 844-935-3634 for a weekly link to join when we get started.

Mortgage Mom Radio equips you with all the mortgage education that you could ask for right at your fingertips! Listen to our Podcast with hours of shows and topics, download our PHONE APP loaded with every mortgage tool that you could need, and finally, watch our HOMEBUYER WORKSHOP SERIES on YouTube!

Debbie Marcoux is licensed by the Department of Financial Protection and Innovations under the California Residential Mortgage Lending Act, NMLS ID 237926, also licensed in AZ-0941504, FL-LO76508, GA-69178, ID-167867, IL-031.0058339, NV-57237, OR, TN-184373, TX, WA-MLO-237926

The Federal Reserve has announced that they plan to increase the prime rate at least 3 times possibly 4 in 2022. We have already seen rate increases of approximately .75% on most loan products since the end of December 2021.

If you are a buyer looking to purchase a home, this could drastically change how much that you qualify for. It is very important that you reach out to your loan officer or even possibly re-start your loan application for an updated qualification number.

If you have been thinking about making a change to a new lender, this would be the time. Reach out to us today to see what we can do for you and please make sure that the numbers you were planning on are still available to you.

Don’t waste your time or your realtors time and don’t fall in love with a home to be disappointed later.

Check out the Mortgage Mom Radio online merch store! The beer mugs are insane! SHOP NOW

Book your free phone consultation today, BOOK NOW

We are LIVE on YOUTUBE every Wednesday @ 1PM PST. Interact with us LIVE while we record! Ask us your questions right in the comments or call in and you will be patched through to the studio. Text “MOM” to 844-935-3634 for a weekly link to join when we get started.

Mortgage Mom Radio equips you with all the mortgage education that you could ask for right at your fingertips! Listen to our Podcast with hours of shows and topics, download our PHONE APP loaded with every mortgage tool that you could need, and finally, watch our HOMEBUYER WORKSHOP SERIES on YouTube!

Debbie Marcoux is licensed by the Department of Financial Protection and Innovations under the California Residential Mortgage Lending Act, NMLS ID 237926, also licensed in AZ-0941504, FL-LO76508, GA-69178, ID-167867, IL-031.0058339, NV-57237, OR, TN-184373, TX, WA-MLO-237926

Have you looked at your credit card statement’s recently? Many American’s do not look at their credit card statements. As a matter of fact, most don’t have any idea how much that they are paying in interest or what the interest rate is for the balances that they carry. Have you looked at yours?

What are the options available to pay those debts off ?

Do you own a home? The answer is different for those who do not own homes and for those who do? There are options for both homeowners with equity and those homeowners and non-homeowners who need to get the finances under control.

Tune in to this episode to learn what you can do if you charged those cards up over the holiday and it’s time to start paying the piper!

Check out the Mortgage Mom Radio online merch store! The beer mugs are insane! SHOP NOW

Book your free phone consultation today, BOOK NOW

We are LIVE on YOUTUBE every Wednesday @ 1PM PST. Interact with us LIVE while we record! Ask us your questions right in the comments or call in and you will be patched through to the studio. Text “MOM” to 844-935-3634 for a weekly link to join when we get started.

Mortgage Mom Radio equips you with all the mortgage education that you could ask for right at your fingertips! Listen to our Podcast with hours of shows and topics, download our PHONE APP loaded with every mortgage tool that you could need, and finally, watch our HOMEBUYER WORKSHOP SERIES on YouTube!

Debbie Marcoux is licensed by the Department of Financial Protection and Innovations under the California Residential Mortgage Lending Act, NMLS ID 237926, also licensed in AZ-0941504, FL-LO76508, GA-69178, ID-167867, IL-031.0058339, NV-57237, OR, TN-184373, TX, WA-MLO-237926

Do you have solar on your home now? Are you hoping to get solar added to your home?

Did you know that you can lease or buy your solar equipment just like you would a car?

What are the differences between each?

Is one better than another when you decide to sell your home?

What about a refinance or financing for the new buyer, does it matter if it is a lease or a buy?

What is the benefit to each option?

Tune in as I answer these questions for you on today’s episode!

Check out the Mortgage Mom Radio online merch store! The beer mugs are insane! SHOP NOW

Book your free phone consultation today, BOOK NOW

We are LIVE on YOUTUBE every Wednesday @ 1PM PST. Interact with us LIVE while we record! Ask us your questions right in the comments or call in and you will be patched through to the studio. Text “MOM” to 844-935-3634 for a weekly link to join when we get started.

Mortgage Mom Radio equips you with all the mortgage education that you could ask for right at your fingertips! Listen to our Podcast with hours of shows and topics, download our PHONE APP loaded with every mortgage tool that you could need, and finally, watch our HOMEBUYER WORKSHOP SERIES on YouTube!

Debbie Marcoux is licensed by the Department of Financial Protection and Innovations under the California Residential Mortgage Lending Act, NMLS ID 237926, also licensed in AZ-0941504, FL-LO76508, GA-69178, ID-167867, IL-031.0058339, NV-57237, OR, TN-184373, TX, WA-MLO-237926

The broad mention of “Appraisal Waiver” during a home purchase can mean two different things.

Are you trying to get the attention of a seller by waiving your appraisal or did your lender tell you that they received an appraisal waiver from the system? These are two very different things and you could get caught in a very bad situation if you don’t understand the difference between the two.

Learn more with today’s episode!

Check out the Mortgage Mom Radio online merch store! The beer mugs are insane! SHOP NOW

Book your free phone consultation today, BOOK NOW

We are LIVE on YOUTUBE every Wednesday @ 1PM PST. Interact with us LIVE while we record! Ask us your questions right in the comments or call in and you will be patched through to the studio. Text “MOM” to 844-935-3634 for a weekly link to join when we get started.

Mortgage Mom Radio equips you with all the mortgage education that you could ask for right at your fingertips! Listen to our Podcast with hours of shows and topics, download our PHONE APP loaded with every mortgage tool that you could need, and finally, watch our HOMEBUYER WORKSHOP SERIES on YouTube!

Debbie Marcoux is licensed by the Department of Financial Protection and Innovations under the California Residential Mortgage Lending Act, NMLS ID 237926, also licensed in AZ-0941504, FL-LO76508, GA-69178, ID-167867, IL-031.0058339, NV-57237, OR, TN-184373, TX, WA-MLO-237926

Do you have student loan debt?

Are you ready for the monthly payments that have been in deferment to come due?

Have you budgeted for those payments that you haven’t had to make it almost two years?

What can you do to get those under control if your not a homeowner?

Do you own a home with equity?

There are many options available to both homeowners and those who do not own. Listen to today’s episode to learn more!

Check out the Mortgage Mom Radio online merch store! The beer mugs are insane! SHOP NOW

Book your free phone consultation today, BOOK NOW

We are LIVE on YOUTUBE every Wednesday @ 1PM PST. Interact with us LIVE while we record! Ask us your questions right in the comments or call in and you will be patched through to the studio. Text “MOM” to 844-935-3634 for a weekly link to join when we get started.

Mortgage Mom Radio equips you with all the mortgage education that you could ask for right at your fingertips! Listen to our Podcast with hours of shows and topics, download our PHONE APP loaded with every mortgage tool that you could need, and finally, watch our HOMEBUYER WORKSHOP SERIES on YouTube!

Debbie Marcoux is licensed by the Department of Financial Protection and Innovations under the California Residential Mortgage Lending Act, NMLS ID 237926, also licensed in AZ-0941504, FL-LO76508, GA-69178, ID-167867, IL-031.0058339, NV-57237, OR, TN-184373, TX, WA-MLO-237926

The Fed announced on December 15th that they plan to increase interest rates three times in 2022 and three more times in 2023. What does this mean to you? Do you have debt that is tied to the prime rate such as a credit card or a home equity line of credit?

Check out the Mortgage Mom Radio online merch store! The beer mugs are insane! SHOP NOW

Book your free phone consultation today, BOOK NOW

We are LIVE on YOUTUBE every Wednesday @ 1PM PST. Interact with us LIVE while we record! Ask us your questions right in the comments or call in and you will be patched through to the studio. Text “MOM” to 844-935-3634 for a weekly link to join when we get started.

Mortgage Mom Radio equips you with all the mortgage education that you could ask for right at your fingertips! Listen to our Podcast with hours of shows and topics, download our PHONE APP loaded with every mortgage tool that you could need, and finally, watch our HOMEBUYER WORKSHOP SERIES on YouTube!

Debbie Marcoux is licensed by the Department of Financial Institutions under the California Residential Mortgage Lending Act, NMLS ID 237926, also licensed in AZ-0941504, FL-LO76508, GA-69178, ID-167867, IL-031.0058339, NV-57237, OR, TN-184373, TX, WA-MLO-237926