Greg Herman, Sales Manager, Anchor Funding Inc.

03/19/2025

What did the Fed do to the Prime Rate Today? - https://mailchi.mp/7aff1f191848/what-did-the-fed-do-to-the-prime-rate-today
With inflation at a yearly average of 2.8% instead of 2%, the Fed is eyeing this a bit more closely.

With inflation at a yearly average of 2.8% instead of 2%, the Fed is eyeing this a bit more closely. The Fed met today and decided to wait and see on the changing of the Prime Rate, which is currently at 7.50%. So why? The rate of inflation stayed fairly much the same and with all the changes happen...

09/03/2024

Interest Rates and California Home Owner's Insurance are hot topics today. On September 18, the Fed will most probably lower interest rates by .25%. This will directly affect the interest rates on credit cards and personal loans based on the Prime Rate such as some HELOCS. I realize there are some crazies calling for .50%, but understand, the FED just recently for the first time mentioned about a rate cut. This comes on the heels of corrected job figures showing 818,000 less jobs than initially reported for the past year.
On other news, Allstate has received approval to raise its California homeowners insurance premiums by an average of 34% starting in November, the largest rate increase this year amid the state’s insurance crisis. Well, at least Allstate is not bailing out of doing business in CA.

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08/21/2024

Good morning. Headline numbers came out this morning showing From March of 2023 to June 2024, 819,000 jobs have been eliminated and 1000 government jobs have been added for a net of 818,000 jobs lost. Showing the weakening of the economy, this will give the Fed enough fuel to lower rates in September by .25. Depending upon numbers between now and December, we may see another .25, but that depends upon further deteriorization of the labor market.
How does this affect home loan rates? The home loan rates build in the Fed rate drop or rise usually within 45 days prior to the Fed taking action. Rates have already dropped for September and if we get another report similar to what we just got in September, the interest rates may go down a bit then too. At the moment, there isn't enough news to make a significant reduction in interest rates.

If you are thinking of refinancing, check with me and I'll gladly see if it makes sense for you to do so.

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06/24/2024

Want an ADU?
Were you told you didn't have enough equity?
90% of After Renovation Value

05/25/2024

Working with self-employed borrowers sometimes means becoming incredibly creative to make things happen. Use my 37 years of experience to creatively make your home buying dreams come true. Message me for details.

05/23/2024

When you rent, you build your landlord's wealth. The way the prices of homes jumps with inflation in California, you really need to jump on the equity train of wealth ASAP! Message me how to get started.

05/22/2024

We have a no Lender's Fee option on some loans that can greatly reduce the amount of money you need to bring in to close. Message me for details

05/21/2024

Customizing a loan that fits your needs is imperative in today's market. Message me so we can customize a home loan that fits your needs.

05/20/2024

Rent prices are going to continue to climb and you still do not gain any equity. Lock in your payment and watch your equity grow. Call it your own, you can bank on it.

05/19/2024

Keep your cash to upgrade your home and really make it yours. Lower down payment, lower costs, more customizing you can do.

05/18/2024

Are your credit card bills weighing you down? Are they stressing you out? Let me help remove the stress of debt by consolidating your debt into one low payment with a refinance.

05/17/2024

Ready to take the leap into homeownership? Let me guide you through your first steps in the homebuying process. Message me to get started today! 🏡💫