Ep. 16 - December 2022 Lending Update w/ Daniel Halverson
Not to say we told you so, but inflation readings are doing precisely what we said they would. Today, Daniel Halverson and I are discussing the lending update for December (2022) and the final for the year! We've talked about rates going down, why now is still a good time to buy, and other options available for borrowers. In this episode, we discuss more buy-down options and updates to conforming and VA loan limits with breakdowns so that the numbers are more digestible. We also take our classic look at inflation and how it will affect mortgage bonds.
Jump into today’s value-packed episode for the latest updates in lending!
[00:01 - 09:07] Alternative buy-downs to the 2-1. What are the options for buying rate relief, and how do they work?
[09:08 - 15:18] Updates on private flood insurance policies and new conforming loan limit
[15:19 - 18:22] FHA releases increased VA loan limits–implications of the $95,000 increase
[18:23 - 26:37] Rates are starting to slide back—Moderate Inflation causes Inflation readings to go down
Quotes:
“From 2006 to 2016, the conforming loan limit was at $417,000. Since that time, now we've got a 74% increase In a six-year span. It was super interesting and eye-opening to see that kind of a differential.” - Daniel Halverson
“We’ve talked about it a bit that moderate inflation will bring inflation readings down, and when inflation readings go down, that’s a good thing for mortgage bonds.” - Daniel Halverson
Resources Mentioned:
Bank of England is a nationwide lender that takes the time to understand your needs and structure the right mortgage for you and your family. Find your local branch at https://www.boemortgage.com/.
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