Furloughed Pay! (update)

Good news on furloughed pay! One of my lenders will use your last paystub received before the government shutdown! Not only that, but when the lender verifies that you work for one of the impacted agencies that temporarily laid you off, they will waive the “VOE” (verification of employment). This is big news because all lenders want to make sure you still have a job before they fund your mortgage! This will not work for FHA or VA, but will for all other conforming and jumbo products. So, if you are subject to furloughed pay right now, and want to purchase a home or refinance, then call me, Michael E. Mitchell, at Mitchell Mortgage, “Where the Broker is ALWAYS working on your home loan”! 707-337-5970 mobile, 530-406-2200 or 707-259-1117 land lines. Talk to you soon!

Overthinking Fed Rate Drops!

Did you get caught overthinking the most recent Fed rate drop? Me too! For the second time in a row, short term rates dropped and mortgage rates rose or remained stagnant. This recent trend is, in general, not what used to happen. You could almost count on long term rates following short term rates after the Federal Reserve took action. But what’s been true in late 2024 and with the most recent 2025 rate movement is borrowers would have been better off locking an interest rate in the days leading up to the actual event! Because afterwards, the mortgage rates either went up or up or up slightly and then stagnant. So no overthinking from now on!  My recommendations moving forward, until proven wrong, will be to lock your rate in the week preceding the expected Federal Reserve action! Just call me when you are pondering purchasing or refinancing and I can explain the whole process. I am waiting for your communication at Mitchell Mortgage, “Where the Broker is ALWAYS working on your home loan”! Ask for Michael Mitchell at 707-337-5970 Mobile, or 530-406-2200 and 707-259-1117 landlines. Talk to you soon!

The Fed and Tariffs and Russia Oh My!

The Fed and Tariffs and Russia Oh My! So much to think about as President Trump attempts to make America…OZ! With the President leaning on the Fed Reserve Chairman to lower short term interest rates, and tariffs being a boom or bust, and oh yeah, can Whitehouse pressure make the Russians stop the war against Ukraine…how is a person supposed to plan for anything?!!! Well, I have a feeling, that much like Dorothy on her way to the Emerald City, that all these factors (no matter how they turn out) will not affect the results of your near term financial decisions to any great extent. This is a very long explanation that in short says, “what will be will be”. Or if you are a Doris Day fan, “Que sera, sera”! To help you navigate today’s news for tomorrow, just follow the yellow brick road or if you want a quicker route, call me, Michael Mitchell, Owner/Broker of Mitchell Mortgage (I’m the guy behind the curtain) and we’ll run the numbers for your next real estate purchase or refinance. If you are 62 and over with an adequate amount of equity in your property, then you may even consider a Reverse Mortgage! For all others, Mitchell Mortgage handles conventional financing, FHA, VA, Home Equity, Hard Money and more! Simply call 707-337-5970 mobile or 530-406-2200 & 707-259-1117 landlines. Mitchell Mortgage is where “The Broker, is always working on your home loan”! Talk to you over the rainbow soon!

Rates Trend Down!

For the first time in months, mortgage rates have slightly dropped! It all depends on what your purchase or refinance situation looks like, but in general, the current trend down mortgage rates are a welcome sign to everyone who has been waiting to buy real estate or refinance their present home! Overall, at this time, the drop is right around 1/4%, but that is still a savings when you are going through the largest financial transaction that most people will experience in their lifetime! If you want to know how this mortgage rates trend down might affect you, then call Michael Mitchell at 707-337-5970 Mobile, or 530-406-2200 & 707-259-1117 landlines. Let’s talk about fixed, adjustables, hard money, Reverse Mortgages and more! Mitchell Mortgage is where “The Broker is always working on your home loan”!

Scenario Calls Encouraged!

Scenario calls are encouraged at Mitchell Mortgage so you can quit wondering about when and if you qualify for a new home purchase mortgage or refinance on an existing residence! Let’s stop the confusion and uncertainty by calling Michael Mitchell, the Broker/Owner of Mitchell Mortgage who will listen and then give you the best avenue to proceed. If you don’t qualify now, you will be given a path to take that will put you in home buying or refinancing status at the earliest opportunity. Scenario Calls Encouraged! Conventional, Jumbo, Reverse, FHA, VA, Hard Money, Bridge and Commercial questions answered! Let’s talk! Call Michael at 707-337-5970 mobile, 530-406-2200 & 707-259-1117 landlines today…after hours and weekends okay to talk too!

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.