Ep.45 - Mortgage Update with Mike Domangue

Keywords

mortgage rates, real estate, home buying, interest rates, loan products, market trends, FHA, VA loans, home financing, housing market, buyer strategies

Summary

In this episode of the R.E. Real Estate Podcast, hosts Clint C. Galliano and Ben Harang welcome mortgage loan officer Mike Domangue from Hancock Whitney. They discuss the current state of mortgage rates, the impact of historical rates on buyer behavior, and innovative loan products available for buyers. The conversation emphasizes the importance of finding balance in the housing market and provides insights into navigating buying and selling strategies. Mike shares valuable information about new loan products that offer 100% financing and no PMI, making homeownership more accessible.

Takeaways

·         Mortgage rates are influenced by the 10-year treasury bond.

·         Historical low rates during 2020-2021 are unlikely to return.

·         A balanced market is better for both buyers and sellers.

·         Current rates for government loans are in the mid-fives to upper-fives.

·         Buyers are hesitant to sell due to low existing mortgage rates.

·         New loan products are available for low to moderate income buyers.

·         100% financing options are now offered with no PMI.

·         The Fed is expected to cut rates soon, impacting mortgage rates.

·         It's cheaper to buy a house than to rent in the current market.

·         Understanding census tracks can unlock financial benefits for buyers.

Sound bites

"We need to find a balance."

"The Fed's gonna cut rates."

"100% financing, no PMI."

Chapters

00:00 Introduction to the Podcast and Guest

02:12 Current Mortgage Rates and Market Trends

05:47 The Impact of Historical Rates on Buyer Behavior

09:32 Navigating the Market: Selling and Buying Strategies

13:06 Innovative Loan Products and Financing Options

17:55 Conclusion and Contact Information

Hosts 

Ben Harang, REALTOR® La. 

License #: 36589 

Keller Williams Realty Bayou Partners 

Mobile: 985.859.2500 

Office: 985.262.4400 

ben@benharang.com

benharang.com 

Clint C. Galliano, REALTOR® 

La. License #: 995704723 

Keller Williams Realty Bayou Partners 

Mobile: 985.647.4479 

Office: 985.262.4400 

clint.galliano@kw.com

clintcgallianorealtor.com 

Guest Contact Information

Mike Domangue

Senior Mortgage Loan Officer

mike.domangue@hancockwhitney.com

Hancock Whitney

Main Branch

7910 Main Street

Houma, LA  70360

Cell: 985-688-0155

EFax: 985-289-6285

NMLS# 855188

ApplywithMikeNow.com

Produced by: 

Clint Galliano 

Music by: 

Wiggins Studios

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