Independent mortgage brokers, like Burke Mortgage, help homeowners save both time and money! Their primary goal is to help homeowners obtain the best mortgage or home loan. They can do this because they are independent, i.e. independent of a financial firm and they have access to a wide range of mortgages and mortgage lenders.
What is an independent mortgage brokers?
They are intermediaries that match borrowers and lenders. An independent mortgage broker is not employed by any specific mortgage firm.
Why should I choose an independent mortgage broker?
An independent mortgage brokers, like Burke Mortgage, represents you, the home buyer, not the lender. They do not work for a lending institution. They are not limited to the types of loans or products that they can offer you.
What services do independent mortgage brokers provide?
They will work with you throughout the homeowner purchasing process! They will:
- Evaluate Your Needs
- Research Loan Options, Rates, and Programs
- Represent you the Borrower
- Assist with Applications
- and Help to Close the Loan/Mortgage
They can also help economically and socially disadvantaged households, obtain mortgage loans.
8/15/2022 – Examples of economic news impacting mortgages:
- Relief for Home Buyers, as Available Inventory Increases: According to the National Association of Realtors, the seasonally adjusted number of available units has seen a steady increase, helping out many potential homebuyers that have been shut out of the marketplace.
- Mortgage-backed securities (FNMA 5.00 MBS) gained just 1 basis point (BPS) from last Friday’s close which caused fixed mortgage rates to move sideways compared to the prior week. The lowest rates of the week were on Wednesday and the highest rates were on Thursday.
The above are the major economic reports that will hit the market this week.
The major economic reports that hit the market include but are not limited to: NAHB Housing Market Index, MoM Existing Home Sales, Fed Purchase UMBS 30Y, and Jobless Claims are just a few of the reports I look at. Each index/report has the ability to affect the pricing of mortgage backed securities and therefore, interest rates for Government and Conventional mortgages.