Derek Baker

Federal Reserve - Update: .50% Interest Rate Drop.... Another .50% by year end is predicted. Fed slashes interest rates by a half point, an aggressive start to its first easing campaign in four years.

Key Points:
* The Federal Open Market Committee chose to lower its key overnight borrowing rate by a half percentage point, or 50 basis points, amid signs that inflation was moderating and the labor market was weakening.
* It was the first interest rate cut since the early days of the Covid pandemic.
* The Committee has gained greater confidence that inflation is moving sustainably toward 2 percent, and judges that the risks to achieving its employment and inflation goals are roughly in balance,” the Federal Reserve statement said.

Time to Refinance???

Call me for a free quote at 801-842-4848 or visit my website: www.DirectMortgage.com/DerekB for calculators, resources or to get started.

Grateful,

Derek Baker - Mortgage Loan Advisor - NMLS # 1952172
Direct Mortgage, Corp – NMLS # 9612
6955 S. Union Park Center, Ste 540, Midvale UT 84047
C: 801-842-4848
[email protected]

Currently structuring home loans in Utah, Alaska, Arizona, Idaho, Wyoming, Florida, and Georgia.
License #'s: AK-AK1952172, AZ-1034048, FL-LO108748, ID-MLO-2081952172, UT-11838912, WY-102650, GA-1952172

Mortgage Minute: Smart reasons to refinance

Should you refinance? I’ll tell you what, there are lots of reasons to refinance aside from just rate.

You know, homes have appreciated quite a bit, so if you’re paying mortgage insurance, let’s get rid of that and save you that money. And because we have seen strong appreciation over the past several years, there is likely equity in your home that you could utilize to do home improvements, make an investment, or consolidate debt.

I can take some of your debts, include them in your mortgage, and significantly reduce your overall monthly expenses. We could also reinvest the savings into your mortgage to greatly reduce your term and generate wealth. And guess what? The increase in your net worth through a strategy like this can be hundreds of thousands of dollars…which you can use for things like paying for your kid’s college education or planning for retirement.

Call me for a free quote at 801-842-4848 or visit my website: www.DirectMortgage.com/DerekB for calculators, resources or to get started.

Grateful,

Derek Baker - Mortgage Loan Advisor - NMLS # 1952172
Direct Mortgage, Corp – NMLS # 9612
6955 S. Union Park Center, Ste 540, Midvale UT 84047
C: 801-842-4848
[email protected]

Currently structuring home loans in Utah, Alaska, Arizona, Idaho, Wyoming, Florida, and Georgia.

License #'s: AK-AK1952172, AZ-1034048, FL-LO108748, ID-MLO-2081952172, UT-11838912, WY-102650, GA-1952172

Mortgage Minute: The false barrier to homeownership

It’s been proven that homeownership is a critical factor in wealth creation. Studies show that homeowners have 40-times the net worth of a renter.

One of the main obstacles to homeownership is the down payment requirement, but it’s likely a false barrier.

According to a recent Fannie Mae report, only 10% of potential homebuyers realize that they can purchase a home with only a 5% down payment or even less. Most home shoppers think they need somewhere between 15% and 20% down. This misconception can cause individuals to count themselves out of this wealth creation opportunity before they even get started.

I can help guide you with accurate information on down payment options to help you achieve homeownership.

Contact me for a free quote at 801-842-4848 or visit my website: www.DirectMortgage.com/DerekB for calculators, resources or to get started to obtain a loan pre-approval.

Grateful,

Derek Baker - Mortgage Loan Advisor - NMLS # 1952172
Direct Mortgage, Corp – NMLS # 9612
6955 S. Union Park Center, Ste 540, Midvale UT 84047
C: 801-842-4848
[email protected]

Currently structuring home loans in Utah, Alaska, Arizona, Idaho, Wyoming, Florida, and Georgia.

License #'s: AK-AK1952172, AZ-1034048, FL-LO108748, ID-MLO-2081952172, UT-11838912, WY-102650, GA-1952172