July was a banner month for new home sales. Check out Realtor Mag’s report on sales reaching their highest point since October 2007 and why this trend is happening.
Not only is our very own Bill Dallas an entrepreneur, a CEO, and a writer, he’s also a thought leader in the mortgage industry. It’s no wonder that he’s so well respected, having more than 30 years of experience and having founded numerous successful companies.
For years, Bill Dallas has been the “go to” guy for high-level mortgage industry advice and even market predictions.
Most recently, Dallas was asked to weigh in on a commonly discussed topic for consumers: should you pay off your mortgage early?
Dallas puts his years of experience to good use, as he helps homeowners better understand the mortgage process.
Check out his insightful thoughts on early repayment in an article on NewHomeSource.com.
Our very own CEO, Bill Dallas, has a pretty impressive resume having founded more than half a dozen successful companies. In fact, he founded his first company just a few years out of college!
Bill has been considered a mortgage thought leader for years, and now, not only is he a titan of the industry, he is also an accomplished author with a monthly article on the financial website The Street.
This month, Bill’s article deals with the impact of one of the biggest events to affect the world economy – Great Britain’s vote to leave the EU.
Brexit may be bigger than we anticipated!
Great Britain surprised the world by voting to leave the European Union, but the effects of the decision can be felt around the world and in all sorts of different industries.
For home buyers or refinancers in the United States, the Brexit is actually good news because it could actually lead to even lower interest rates!
Interest rates has actually dropped since the Brexit and are approaching historic lows, and that can only mean one thing for home buyers and home owners – an opportunity to save money.
Lower interest rates mean smaller mortgage payments. Even a small change in interest, like a quarter of a percentage point, can add up to thousands of dollars over the term of a mortgage.
Global economic uncertainty means that interest rates are staying low or could even go down, at least for the time being.
So if you’ve been wondering if now is a good time to buy or refinance, you might want to take advantage of these incredible rates while they’re low.
Ready to take a leap? Give me a call or shoot me an email!
Source: U.S. News, June 24, 2016
Yesterday, British voters voted to leave the European Union in search of more economic independence. Although Great Britain is across the pond, this decision has an effect on the US mortgage market.
As of today, the Brexit is actually keeping interest rates low. In fact, according to the Washington Post, the Federal Reserve feared that Great Britain would leave the EU and kept rates low in response.
Right now, rates are significantly lower than they were at this time last year. Because rates are so low, it could be a great time to take the leap and purchase a home or refinance.
Even a quarter of a percentage point can save you thousands of dollars on your mortgage.
But time is of the essence. Interest rates can’t be predicted, and they can increase at any moment. A small rate increase could amount a lot of money. So the time to lock in that low interest rate is now!
If you’re ready to buy a home or refinance and want to take advantage of these great rates, give me a call or shoot me an email.
Source: Washington Post, June 24, 2016
When it comes to buying a home, timing is key. Buying a home at the right time can mean getting a great interest rate on your mortgage, and your bank account will thank you. Today, interest rates are at the lowest point they’ve been in three years!
What does this mean for you?
It means that now can be a great time to take the plunge and lock that low interest rate in.
A fraction of a percentage point can mean hundreds or even thousands of dollars on a mortgage, so why pay extra when you don’t have to?
If you’re ready to buy your dream home and lock a low interest rate in, give me a call or shoot me an email!
* Current as of June 16, 2016
If you’ve been wondering when a good time to refinance your home is, I’m here to tell you that the time is now!
Refinancing can be a great way to save money every month and reduce your monthly payment.
Lucky for you, rates are at historic lows, and they’re lower than they’ve been for three years. So refinancing right now could help save you thousands of dollars over the life of your mortgage. Just think of what you can do with that extra money!
Rates can go up at any moment, so waiting to refinance can mean losing out on saving money. Don’t let an opportunity like this pass you by.
So if you’re ready to save some serious dough, give me a call!
*Current as of June 16, 2016
In a recent unanimous vote in the House of Representatives, a bill aimed at encouraging more private companies to offer flood insurance passed and is now on its way to the Senate.
The idea behind The Flood Insurance Market Parity and Modernization Act is to give homebuyers more choices in flood insurance coverage. If passed, it would authorize state insurance commissioners to approve flood insurance policies for Fannie Mae, Freddie Mac and other federally backed mortgages. It would also allow lenders to accept private flood insurance policies that provide coverage at least as good as those sold by the National Flood Insurance Program (NFIP). In turn, it would open the flood gates for more consumer choice, more market competition and more product innovation. Instead of being told what insurance policy is required, buyers would have choices to select a policy that fits their specific needs.
The new bill also would allow homeowners insured by the NFIP to switch to a private flood policy and retain the right to get their NFIP policy back again if they are dissatisfied with private insurance. The legislation in essence grandfathers a homeowner’s federal flood insurance rate as long as there is no lapse in insurance coverage.
The bill is a rare one. It is widely supported by both Republicans and Democrats, environmental organizations, insurance lobbying groups, taxpayer groups, and real estate organizations.
Keep watching my blog for more updates as this bill and the discussion progresses.
Source: National Mortgage News (obtained May 2016)
The Santa Clarita Valley community and élite Magazine have named the Valencia Branch of Skyline Home Loans the Ultimate Mortgage Company 2016, and we are so grateful. Knowing that we are supported by the community that we love so much and work hard to serve makes the work we do even more satisfying.
To all of our loyal clients and our partners, thank you for your trust and confidence in us. We would not have received this honor without your support.
We have been a part of the Valencia community for more than 30 years, and we’re proud to spend each and every day helping people buy the homes of their dreams.
Winning the Ultimate Mortgage Company Award is truly a highlight of our year, and we will spend every day working to live up to the title that the community has granted us. We will always strive to offer the best loan experience possible to our customers.
Thank you again for this accolade. Our gratitude to those who work with us and those who have voted for us is beyond words.
I am proud to announce that Skyline Home Loans was ranked in the Top 100 Mortgage Companies in America in 2015!
Thank you to our clients and our colleagues who have placed their trust and confidence in Skyline to help us hit this impressive milestone.
Since our founding in 1985, Skyline has been focused on delivering the best possible mortgage experience. That simply doesn’t happen unless you have an unsurpassed operations and support team, living that mission each and every day.
In 2015, the company’s volume increased by a whopping 48% from 2014! Even with a tumultuous mortgage industry, Skyline continues to grow because of our experienced, knowledgeable staff and loyal clients who keep coming back, year after year.
Skyline debuted on the Top 100 list when the rankings began in 2011 and has been on the list ever since!
I consider myself lucky to be a part of such an amazing organization with a team of people working together to achieve the same goals. Thank you for making 2015 a great year and let’s make 2016 even better!