Kayli Santiago- Real Estate Broker

10/19/2022

The Q3 2022 HPI report reveals a timely increase in affordable homeownership programs, as the median U.S. down payment has nearly doubled.

10/18/2022

Have you ever thought about USDA financing?

USDA is a program that is open all year round available for those who are seeking a more financially comfortable way to purchase.

If you’ve ever dreamed about being away from the city and being closer to rural areas USDA is a great option for you.

Four main things to consider when looking at possibly looking to obtain USDA is-

1: Income: Income cannot exceed 115% of median household income (nationally)
2: Property must be held as primary residence (cannot be a rental)
3: Must be a U.S. Citizen, U.S. non-citizen or Qualified Alien
4: Home purchased must be within the designated USDA zoned areas

Programs are eligible for 0% down for buyers. Approximately 45 day closing period, buyers only obligation would be closing cost, which comes to approx 2.5% of total sales price. USDA also offers programs for down payment assistance.

In the image below is what the current zonings are for USDA in the Charlotte, Monroe, Wingate areas!

If you have any questions about USDA/ are interested in purchasing. Please reach out to me I would love to assist you!

https://www.rd.usda.gov/programs-services/single-family-housing-programs/single-family-housing-guaranteed-loan-program

09/22/2022

Report provided by our senior loan officer Gary Klutts from American security mortgage NMLS #106401
“Mortgage market prices are worse by -0.625% from yesterday morning.
As widely predicted, yesterday afternoon the Fed raised the Fed Funds rate by 75 bp to a range of 3.00% to 3.25%.
Fed Chair Powell reinforced the Fed message that they will continue to raise rates in coming weeks to bring inflation under control despite pushing the economy into recession.
Although there are already signs of significant slowing in the economy (e.g., housing), the labor market remains extremely tight and the Fed will be primarily focused on labor conditions rather than other measures.
Jobless Claims for last week were lower than expected at 213,000 – another sign of an extremely resilient employment market.
Bottom line is (1) the Fed now is fully anticipating slowing GDP growth, (2) increasing unemployment, however, (3) persistent higher inflation surpassing 3% running into 2023 (orange bars in graph).
The 10-Year Treasury has risen again to yield 3.70%.”

08/16/2022

Report provided by Senior loan officer of American security mortgage Gary Klutts NMLS #106401
Mortgage markets prices are worse by -0.125% this morning.



Housing Starts slowed significantly in July to 1,446,000 – consensus had been 1,540,000 and June’s actual was 1,599,000, so this is 10% reduction in starts in only one month.
Higher mortgage interest rates are definitely beginning to take a bit in the builder market.
New Permits for July remained relatively strong at 1,674,000 – however new single-family Permits did drop by 4%.
Other areas of the economy are reflecting slowing as in the below manufacturing data graph.
The 10-Year Treasury is yielding 2.86%.

08/08/2022

Report provided by Senior loan officer of American security mortgage Gary Klutts NMLS #106401

“Mortgage markets prices are better by +0.250% this morning.



No major economic news today.
One of the biggest economic data points this week will be Wednesday’s release of the Consumer Price Index (CPI) for July.
Many believe we will finally see decline, but the question is to what level – consensus is that it will decline only to about +8.7% year-over-year from last month’s 9.1%.
Three regional Federal Reserve presidents speak this week – expectations are that they will describe a vigilant tack on fighting inflation.
Last week’s Nonfarm Payrolls reflects a strong labor environment (graph) with no signs of a recession in the jobs data.
The 10-Year Treasury is yielding 2.78%.”

07/28/2022

Report provided by Senior Loan officer Gary Klutts from American Security Mortgage NMLS #106401
“Mortgage markets prices are better by +0.500% this morning.
Gross Domestic Product (GDP) for Q2 surprisingly fell by -0.9% for the second straight quarter reflecting slowing economic activity – consensus had been for a positive +0.3%.
Jobless Claims for the latest week were 256,000 – expectations were for 249,000 new unemployment claims.
As expected, yesterday the Federal Reserve increased the Fed Funds rate by 75 bp and signaled that future rate increases would most likely come but would be measured in their magnitude of increase.
However, Powell did not indicate any shift in the Fed’s policy initiative to fight inflation and reiterated the fact that their target was a 2% inflation rate.
All of this news is interest rate “friendly” and rates are moving slightly lower this morning on the news.
Markets are now favoring a 50 bp Fed Funds rate hike in September rather than 75 bp (graph).
The 10-Year Treasury has dropped to yield 2.67%.”

07/25/2022

🏡OPEN HOUSE❤️
This Saturday July 30th 1-4pm at 1995 Old Eury Road
Rock Hill, SC 29732
Beautiful home 3 bed 3 bath 3,132 sqft
Come stop by and or contact me or the listing agent Ronda Lusch.

https://www.homesnap.com/SC/Rock-Hill/1995-Old-Eury-Road?a=352912247

07/21/2022

The following is provided from the Senior Loan officer of American security mortgage Gary Klutts NMLS #106401
Info sourced from the Wall Street Journal……. Mortgage markets prices are worse by -0.125% from yesterday morning.



“Jobless Claims for the most recent week were 251,000 – up from last week’s 244,000 and higher than consensus 240,000.
This level of initial Jobless Claims is a new high-water mark for 2022 and reflects that the Fed’s actions are making headway.
Today, the European Central Bank (ECB) raised its short-term interest rate by 50 bp as Europe also takes action against inflation – the first ECB rate increase in 11 years.
The MBA’s Purchase Index reflects application levels that are running higher than four of the last ten years, so although they are down, they are still running at a reasonable level and only slightly lower than 2018 and 2019.
The Federal Reserve is certain to announce an increase in the Fed Funds by 0.75% next Wednesday afternoon.
The 10-Year Treasury is yielding 2.98%.”

07/20/2022

Some fun facts about the market! If you wanna learn more and see where I got this info look at the https://www.nar.realtor/

07/13/2022

This report is from Austin-Barnett Realty’s partner from Senior loan officer Gary Klutts NMLS #106401 [email protected]

“Mortgage markets prices are worse by -0.500% from yesterday morning.
The Consumer Price Index (CPI) for June was announced much higher than expected at +9.1% year-over-year (graph) – consensus had been for +8.8%.
This measure is a 41 year high for consumer inflation and puts pressure on the Federal Reserve to continue its strategy of raising Fed Funds to the 3.50% to 4.00% area.
Higher gasoline, food, and shelter prices led the way in this surprise figure.
Thursday brings the Producer Price Index (PPI) for June – consensus is for a large +10.4% year-over-year number.
This CPI data, and tomorrow’s expected PPI number, most likely seal the case for the Federal Reserve to raise Fed Funds by 0.75% at its July 27th meeting.
The 10-Year Treasury is yielding 3.03%.”

07/12/2022

This is good beginners guide for buyers to help get a understanding of what you should start looking at when purchasing a home!

07/07/2022