Patrick Thornton, Realtor

08/14/2024

If anyone is curious about what is happening in the real estate world, here’s a great article with a quote from the CEO of exp realty. My brokerage.
Also if you have any question I’d love to answer them for you!

Realtors across the country are bracing for a seismic shift in the way they do business. Starting August 17, new rules will roll out that overhaul the way Realtors get paid to help people buy and sell their homes.

07/31/2024

Mortgage Rate Update and Outlook

As we move into the latter half of 2024, mortgage rates have been relatively stable, with the average 30-year fixed-rate mortgage hovering around 6.78% to 6.79%. This slight uptick from previous lows reflects ongoing economic conditions, including inflation and market responses to Federal Reserve policies. However, there's cautious optimism in the air.

Experts are predicting that rates may gradually decline as we progress through the year, primarily due to easing inflation and potential Federal Reserve rate cuts. The Fed has paused its rate hikes, and there's speculation that we might see rate reductions later in the year, especially if economic conditions soften further. This could potentially lower mortgage rates into the 6-6.5% range by the end of the year or into early 2025.

For those considering locking in a mortgage rate or refinancing, it's a good time to keep an eye on these developments. While the exact timing and magnitude of potential rate cuts remain uncertain, the trend suggests a possible easing of rates, providing an opportunity for better deals.

Remember, even in a market with slightly higher rates, it's crucial to shop around and compare offers from multiple lenders. Different lenders may offer varying rates and terms, and finding the best one can save you a significant amount over the life of your mortgage.

06/21/2024

This is how I feel when I hear my friends bought a house with someone else! Don’t make me cry! Give me a call and let me help you out!

06/19/2024

I you are interested in a career in real estate, or you are already working in the industry and feel stuck, check out EXP realty. There are so many benefits to hanging your license with this brokerage. I've been with them since I passed my test 8 years ago. You can find out everything EXP has to offer by clicking the link below.

http://patrickthornton.exprealty.careers

06/19/2024

Here's a little history on Juneteenth I think everyone should have knowledge of. Happy

On “Freedom’s Eve,” or the eve of January 1, 1863, the first Watch Night services took place. On that night, enslaved and free African Americans gathered in churches and private homes all across the country awaiting news that the Emancipation Proclamation had taken effect. At the stroke of midnight, prayers were answered as all enslaved people in Confederate States were declared legally free. Union soldiers, many of whom were black, marched onto plantations and across cities in the south reading small copies of the Emancipation Proclamation spreading the news of freedom in Confederate States. Only through the Thirteenth Amendment did emancipation end slavery throughout the United States.

But not everyone in Confederate territory would immediately be free. Even though the Emancipation Proclamation was made effective in 1863, it could not be implemented in places still under Confederate control. As a result, in the westernmost Confederate state of Texas, enslaved people would not be free until much later. Freedom finally came on June 19, 1865, when some 2,000 Union troops arrived in Galveston Bay, Texas. The army announced that the more than 250,000 enslaved black people in the state, were free by executive decree. This day came to be known as "Juneteenth," by the newly freed people in Texas.

The post-emancipation period known as Reconstruction (1865-1877) marked an era of great hope, uncertainty, and struggle for the nation as a whole. Formerly enslaved people immediately sought to reunify families, establish schools, run for political office, push radical legislation and even sue slaveholders for compensation. Given the 200+ years of enslavement, such changes were nothing short of amazing. Not even a generation out of slavery, African Americans were inspired and empowered to transform their lives and their country.

Juneteenth marks our country’s second independence day. Although it has long celebrated in the African American community, this monumental event remains largely unknown to most Americans.

The historical legacy of Juneteenth shows the value of never giving up hope in uncertain times. The National Museum of African American History and Culture is a community space where this spirit of hope lives on. A place where historical events like Juneteenth are shared and new stories with equal urgency are told.

Credit- National Museum of African American History & Culture

06/01/2024

Since its pride month, I wanted to provide my friends in the community some things to look for so you are not to be discriminated against.

If you are looking to buy or sell, I'm your person! please message me if you have any questions, Id love to help.

https://www.bankrate.com/mortgages/lgbt-mortgage-lending-bias/

05/30/2024

Closed yesterday!!
Thank you Nicole for trusting me in finding your second home since moving to Tulsa. Im glad you are loving our city and look forward to helping you again in the future!

If you are looking to buy or sell, I'm your guy. Please reach out to me if you have and question and I would be happy to answer them.

05/30/2024

Happy early pride month! As a community we have overcome much adversity, however we still have a long way to go. Some of this adversity happened within real estate, however it has been much improved in this area over the years. Here are 5 ways to celebrate Pride month as part of the community or as an ally.
Also if you are in need of a LGBTQQIP2SAA friendly realtor for any of you real estate needs, please reach out. I would love to help you!

05/30/2024

If you are curious of the mortgage trends right now here is a little insight into that.
Bottom line: the recent pain isn't necessarily a sign of things to come. It will ultimately depend on the tone of the new economic data in the coming days.

Mortgage rates most recently bottomed out on May 15th with the average top tier conventional 30yr fixed scenario being quoted just a hair under 7.0%. It's been a fairly consistent march higher since then, slowly at first, but more abruptly in the present week.

Between yesterday and today alone, rates rose 0.18% on average. All told the 6.99% average from May 15th was up to 7.34% at the close of business.

The pace of the movement continues to belie the fundamental motivations. Over the past few years, it's most common to see the biggest rate volatility in response to key inflation reports, jobs reports, or Fed announcements. None of the above have been present during the recent uptrend.

The bond market (which underlies and ultimately dictates rate momentum) may have been a bit nervous to underwrite the most recent round of U.S. Treasury auctions which finally concluded this afternoon. Bonds could also be apprehensive about the forthcoming inflation data in Friday's PCE report. Last but not least, the final trading days of any given month can always generate some of their own directional influence.

View today's current mortgage rates with our national average index, calculated daily to bring you the most accurate data when purchasing or refinancing your home. Follow our daily market analysis with Mortgage Rate Watch and we'll tell you where and why rates are moving.

12/15/2023

Interest rates made a big drop to under 7%. The lowest since august. That means if you had been thinking about buying it’s time to start those engines again! Message me if I can be of ANY assistance.