There’ve been a lot of recent changes in the world of mortgage home financing. For one, the worsening COVID-19 pandemic is affecting investor confidence - involving global bonds - which, in turn, can change rates.
Rates slide (in either direction) following significant shifts in news headlines; generally, good news can worsen rates, while bad news can drive them lower. That’s how we got to recent, all-time lows to begin with. They’re a bit higher than that now, but still near historic lows, and worth checking. Get a quote with Prospect anytime, if you’d like!
How do recent COVID statistics play in?
If you’ve read the news, new COVID cases per day have hit the highest U.S. totals since the pandemic started - blowing last year’s numbers out of the water. Overall? Very bad news, despite some vaccine progress, and investors will likely take note. There's no guarantee of this pandemic ending in the next couple months...
You’d do well to check rates daily, keep your eye on global headlines, and be ready to move if / when your quote looks compelling. When rates hit the right level for you, applying for a loan quickly can make all the difference. This lets lenders (like Prospect Home Finance) know that you’re serious about moving forward, while low rates last.
Lenders have limited time to originate loans (only so many Loan Officers, Processors, etc.) so we often pursue borrowers with the strongest profiles, to get started ASAP. Simple things like uploading W2s, IDs, etc. via online applications will make your profile stand out. That’s the typical loan process, and holds true for us as well.
If you have any questions about this, or would just like to discuss the market, give us a call! Reach our office at 858-605-0952. Our dedicated Loan Officers will be happy to assist you.
Thanks, and be well!
Prospect Home Finance
NMLS: 349089 | BRE: 01837707
875 Garnet Avenue
San Diego, CA 92109
Jason Vondrak has been in the mortgage industry since 2004 and co-founded the mortgage brokerage Prospect Home Finance in 2006 in San Diego, California. Today he serves as President and CEO of Prospect Home Finance.
Our focus is to be the best home financing choice for homeowners looking for transparency, speed, service and affordable financing terms.
Company NMLS: 365482
875 Garnet Ave
San Diego, California 92109
Phone: (858) 605-0952
Prospect Home Finance strives to ensure that its services are accessible to people with disabilities. Prospect Home Finance has invested a significant amount of resources to help ensure that its website is made easier to use and more accessible for people with disabilities, with the strong belief that every person has the right to live with dignity, equality, comfort and independence.
Prospect Home Finance makes available the UserWay Website Accessibility Widget that is powered by a dedicated accessibility server. The software allows prospecthomefinance.com to improve its compliance with the Web Content Accessibility Guidelines (WCAG 2.1).
The Prospect Home Finance accessibility menu can be enabled by clicking the accessibility menu icon that appears on the corner on the page. After triggering the accessibility menu, please wait a moment for the accessibility menu to load in its entirety.
Prospect Home Finance continues its efforts to constantly improve the accessibility of its site and services in the belief that it is our collective moral obligation to allow seamless, accessible and unhindered use also for those of us with disabilities.
Despite our efforts to make all pages and content on Prospect Home Finance website fully accessible, some content may not have yet been fully adapted to the strictest accessibility standards. This may be a result of not having found or identified the most appropriate technological solution.
If you are experiencing difficulty with any content on Prospect Home Finance website or require assistance with any part of our site, please contact us during normal business hours as detailed below and we will be happy to assist.
If you wish to report an accessibility issue, have any questions or need assistance, please contact us by sending an email to: firstname.lastname@example.org