Nevada Mortgage Lenders Association - NMLA

I had the opportunity to join KTNV Channel 13 Las Vegas to break down the latest trends in the market and what dropping rates mean for homebuyers and homeowners in Southern Nevada.

Whether you’re looking to buy, refinance, or just stay informed, this is an important update you don’t want to miss!

Check out the full segment!

Let me know if you have any questions—I’m always happy to help!

What is the impact of dropping mortgage rates for Southern Nevadans? Here's what you need to know Mortgage rates have been hovering between 6 and 8% for over the past year, but experts predict rates to continue to drop around 5%.

https://youtu.be/_oezsPOqL-k

Interest Rates Rise! In this video, we dive deep into the latest Federal Reserve move — cutting the Fed funds rate. But here's the burning question: Why are mortgage rates STILL ...

After 15 years as an originator, I’ve seen a lot in this industry, and I’m excited to share why the NAR settlement is actually a great thing, especially for buyers!

Here’s what’s been happening: You might have heard that as a buyer, you don’t have to pay for your realtor’s services. While that’s often the case, there’s been some confusion around how commissions are actually handled, which is why we’re seeing changes now.

The reality is, that whether it’s you or the seller covering the cost, your realtor’s commission gets paid either way. Traditionally, this commission was set by the MLS (Multiple Listing Service). So, if your realtor expects 3% but the listing only offers 1%, there’s a conversation that needs to happen about how to make up the difference.

Sometimes, this could mean certain homes might not even get shown, which isn’t fair to you as a buyer.

But here’s the good news: things are changing for the better starting August 17th.

Now, before a realtor can represent you, there will be an agreement that clearly outlines how much they’ll be paid to help you find your dream home. Sellers can still cover the buyer’s agent commission—and many will—but now you’ll have all the information you need to make informed decisions.

And for my realtor referral partners, while rebates and credits might not always be available for lower FICO borrowers, there’s often more flexibility for those with higher FICO scores (680 and above). In many cases, we can provide rebates that help offset closing costs or other real estate expenses, depending on the rates selected. Of course, this isn’t about quoting rates or getting into the nitty-gritty details—those specifics should come from a loan estimate—but it’s important to note that working with experienced lenders can make a real difference.

Now more than ever, it’s crucial to work with lenders who don’t inflate interest rates for higher compensation and who are competitively priced. A well-priced lender can be a huge asset in helping to manage overall costs.

And just to clear things up, this isn’t about getting rid of buyer’s agents. When you’re buying a home, it’s crucial to have a trusted realtor by your side, someone who can guide you through every step, from drafting contracts to explaining all the details.

The National Association of Realtors represents over 1.5 million agents, and they’re here to stay. And no matter what some companies might want (yes, I’m looking at you, Zillow), buyer’s agents are still an essential part of the process.

The bottom line? The NAR settlement brings more transparency for buyers, making it easier to understand who’s paying their agent’s commission, which is a win for everyone involved.

🔍 Ever looked at financial charts and felt lost? Let me break it down for you! 📉📈

Exploring the complexities of the market can be daunting, but this video aims to make it simple and understandable. Dive in to learn about the Dow Industrial Average, Elliot waves and Fibonacci equations, and how these mathematical concepts reveal essential patterns in market movements.

Plus, find out why measuring interest rates and decoding financial indicators like the Relative Strength Index can give you a better grip on locking Interest Rates 💼

How To Read Charts - Interest Rate Update 🔍 Ever looked at financial charts and felt lost? Let me break it down for you! 📉📈 E...

Market's Remain Volatile, be ready.

Market's Remain Volatile 📉 Ready for a deep dive into the bond market and what's next for our economy? 🌍📊 Watch to get the full scoop! 🚀 ...

Perhaps some good news!

This is the first step to stop quantitative tightening and move us back to quantitative easing.

In simple terms, this is the start of the reversal of where they stop pulling capital out of the market and turn the boat around to start doing injection back into the mortgage-back securities market.

Thus this is a start to lower rates on horizon.

Fannie Mae Announces Tender Offer for Any and All of Certain CAS Notes | Fannie Mae Fannie Mae announced that it has commenced fixed-price cash tender offers for the purchase of certain of its Connecticut Avenue Securities® (CAS) Notes.

Consumer Price Index (March 2024)

Inflation was hotter than expected in March, continuing a trend we’ve seen in recent months, as rising energy and shelter costs added to pricing pressure. While annual inflation still remains well below the peaks seen in 2022, these stubbornly high inflation readings could delay the Fed’s timing for rate cuts this year.

Private sector job growth beat expectations in March, led by a huge boost in the leisure and hospitality sector, as employers added 184K new jobs versus the 148K that were expected. February’s figures were also revised higher (from 140K to 155K new jobs), with ADP adding that pay gains for job changers “rose dramatically.”

This does not help interest rates get better.

If you were waiting for the pricing and improvement. The high today did not break the prior high in the same pattern that we've been fighting, meaning that tomorrow will likely be a deterioration and pricing and the subsequent days following.

Unless you have at least 10 days to wait to lock, it would be suggested to go ahead and lock down for an escrow that is closing imminently soon.

Note: While it's impossible to know this 100% factually, the probability is higher to the downside tomorrow than the upside.