President Trump and Fed Chair Powell

President Trump and Fed Chair Powell, do not see eye to eye on what should happen to interest rates! President Trump would like to see short term rates drop, which, he believes would put pressure on long term (mortgage rates) to finally drop. Federal Reserve Chaiman Jerome Powell feels differently. Powell believes the economy is doing well and doesn’t feel the need to rock the boat, or, in his mind, create an inflationary market by lowering short term borrowing rates. President Trump thinks lowering rates will create an economic boom far outweighing inflationary concerns. The battle continues and we will have to see who wins out. One things for sure…the two titans will have until May 26 of next year to see if a middle ground can be found…otherwise, I am quite sure that President Trump will not renew Current Chairman Powell’s Federal Reserve Chairmanship!  If you have questions about this subject or would like to discuss a purchase, refinance or even a Reverse Mortgage, call Michael Mitchell today at 707-337-5970, 530-406-2200 or 707-259-1117!

62 and over can think about Reverse!

62 and over can think about Reverse Mortgages! Once you hit that age and you find yourself with a large amount of equity, but not much cash flow…then a Reverse Mortgage might help. You can use the money for any reason you choose! Reverse Mortgages aren’t for everybody, but if your circumstances fit the program, then Reverse can help you stay in your home and give you financial independence! Call Michael Mitchell today and set up and appointment to go over your scenario! 707-337-5970 mobile, 530-406-2200 or 707-259-1117 landlines. Talk to you soon!

May is Listing Month!

Typically the month of May is the largest listing month for Real Estate 1-4 family homes! So if you are looking for a home, your choices should be greatest, right now! Interest rates are not moving, up or down, and that means you can budget with confidence at the current levels. You can’t buy your dream home if you don’t take the time to make some appointments with your realtor to see what’s out there and May is the time to do that. Who knows? By this time next month, you could be sitting in your new backyard sipping that first margarita! Michael Mitchell will pre-qualify you, hand that to your realtor, and off you go! Call today at 707-337-5970 mobile, or 530-406-2200 & 707-259-1117 land lines! Talk to you soon!

Time to buy a new home? Yes!

Why? Because you have buying power! Many sellers have just been waiting for the chance to sell their home at a top price, but with the home buying season upon us, they will have competition, which is good news for buyers. The more on the market, the more sellers have to worry about you choosing another home over theirs! Your first move should be to call Mitchell Mortgage and get pre-qualified because that is what your realtor will want to see from you…first thing! Call Michael Mitchell at 707-337-5970 mobile or 530-406-2200 & 707-259-1117 landlines. Talk to you soon!

Marry the Home – Date the Rate!

Marry the Home – Date the Rate!  You’ve probably heard that ever since mortgage rates started to climb during the Biden administration. Believe it or not, due to a stubborn Mortgage Backed Securities (MBS) market, that phrase is still what we in the business are promoting! Are we greedy? NO! It makes sense! Marry the Home – Date the Rate, is solid advice for today’s real estate market. Here’s why. Purchasing your dream home may cause short term pain for your pocketbook, but rest assured, you most likely were the only one making an offer! This probably allowed you to negotiate the price of the home downward in your favor. Now, you have the home you wanted, and if rates go up, well, you know your did the right thing by receiving the lowest mortgage rate available. However, if rates go down, you will be a double winner as you can refinance into the long – term financing you were always hoping to get! So call Michael Mitchell at Mitchell Mortgage today and say, “Mike, I found the home I want and I’m ready to Marry the Home and Date the Rate! I am waiting to hear from you so we can write your pre-approval letter that you can hand to your realtor and make that offer! Call 707-337-5970 Mobile, 530-406-2200 & 707-259-1117 landlines.

Will tariffs help you get a home loan?

Will tariffs help you get a home loan? As with everything else in lending, it depends on the Bond market! As this is written, large investors that move the Bond market are selling bonds when it appears the tariffs won’t be to strong and buying bonds when it appears the tariffs will be high. Since there is so much uncertainty, there has been very little movement in mortgage interest rates. Lenders aren’t waiting around on if rates will lower or not, they are coming up with programs that haven’t been used with any regularity for quite some time. For instance, Interest only mortgages that will help lower your monthly payment. Equity sharing, buydowns and home equity loans are also part of the picture. In short, lenders are doing anything they can to generate business! You have heard me say it before, but I will say it again…if you can afford the payment for a new home that is to your liking, then purchase now! If rates go down afterward, then refinance, but if rates go up, you can rest assured you received the lowest interest rate! Those over 55 and with a good amount of equity can also consider how a “Reverse Mortgage” can help them! Competition for homes is up due to scarcity of inventory, but that will be temporary. Call me today to get pre-qualified so you are a leg up and can make an offer right away! Don’t forget, at Mitchell Mortgage, “The Broker is always working on your home loan!” 707-337-5970 mobile or 530-406-2200 and 707-259-1117 landlines.

New Administration could bring new opportunities!

A new administration could bring new opportunities for borrowers!  Long term mortgage interest rates have been stuck on the higher side of where any of us in the business expected them to be ever since the Fed cut short term rates!  This hasn’t made sense, but since long term rates are only moved when large investors buy or sell mortgage backed securities, there’s been more selling than buying.  It could just be that investors are waiting to see if the new administration will bring new opportunities that are bond friendly.  Such as an economic atmosphere that doesn’t scream “inflation”!  If we can count on anything, it is that change with a new administration does usually bring about new opportunities, so if you are looking to purchase or refinance your property, now would be a good time to pay attention to the bond market.  If you see that yield drop on the 10 year treasury bond, then that is the time to call me, Michael Mitchell and let me run numbers for your situation!  I’ll be standing by!  Call 707-337-5970 mobile or 530-406-2200 & 707-259-1117 land lines.

Put your mortgage in Reverse!

Put your mortgage in reverse if you are 62 or older and you can forget about mortgage payments for as long as you live in your home! The caveats being: 1) you continue to pay your homeowners insurance, your property taxes and (if you live in a community with a homeowners association) any HOA dues. 2) and, most importantly, you have a lot of equity in your current home. This FHA Reverse Mortgage product can help you stay in your home if your income is stagnant or declining. If you meet the requirements, or simply want to know more, than call me, Michael Mitchell at 707-337-5970 mobile or 530-406-2200 & 707-259-1117 land lines!
Don’t forget that Mitchell Mortgage also handles conventional and VA mortgages as well, so don’t hesitate to call for those products as well! Let’s make 2025 a great year for you by putting your mortgage in reverse!

Spooky Rates!

Spooky rates…that is, spooky mortgage rates, remain frustratingly high ever since the Fed lowered short term rates by 1/2 point! In trying to figure out why, it appears, at least to me, that large bond investors are fearful of making big decisions and scared to commit to a plan until after the coming election! So expect the spooky rates to continue until after November 5th. They don’t want to find themselves haunted by betting on the wrong candidate to win! That’s my ghostly prediction for the next few days…don’t let it scare you! We can calm your nerves when you call for your prequalification today! Just dial 707-337-5970 mobile or 530-406-2200 or 707-259-1117 land lines. Mitchell Mortgage has programs for Fannie Mae, Freddie Mac, FHA, VA, Reverse Mortgages, hard money and more!  We are the treat, not the trick!  Happy Halloween! Image by Freepic

Stocks or Bonds battle could be good news for you!

The current winner of the stocks or bonds investment strategy goes to ——- Stocks! Know how to tell? Long term mortgage rates have gone up, not down, ever since the Fed lowered the borrowing rate by 1/2 point! If the situation was reversed, the bond yield would be lower, which puts pressure to purchase mortgage backed securities, which, then, lowers long term mortgage rates. Right now, large investors feel they can make more money in the stock market than by purchasing a 10 year treasury bond. Until this reverses, or until it at least evens out, then look for current mortgage rates to stay in the malaise they currently occupy! This does open the door for anyone willing to purchase a home right now, because they will face less competition for that dream home. As soon as rates start to fall, you will have competition for that same home, and a bidding war usually drives up the price! If you would like to get pre-qualified now and you don’t care about the stocks or bond yields, then call me at 707-337-5970 mobile or 530-406-2200 and 707-259-1117 land lines! Mitchell Mortgage handles Fannie Mae, Freddie Mac, FHA, VA, Reverse Mortgages and Hard money too! Talk to you soon!