Oklahoma Mortgage Group - Mike David

When shopping for real estate in Oklahoma , your interest rate is just as important as the home’s listing price. This rate dictates your mortgage affordability and determines how much house you can actually get for your monthly budget. How Rates Affect Your Loan Amount As seen in the comparison table, even a small decrease in the mortgage interest rate significantly increases your borrowing limit. For example: Higher Rates: At 7.75% , a $400,000 loan results in a $2,866 monthly payment. Lower Rates: At 6.00% , that same $400,000 loan drops to $2,398 monthly. This difference of nearly $470 per month could be the gap between your dream home and a compromise. Now flip that around… If your budget is fixed, a lower rate could increase your purchasing power by tens of thousands of dollars. Why This Matters in Today’s Market Mortgage rates have been moving more than usual lately. That can feel overwhelming, but it also creates opportunity. The key is not trying to “time the market”...

Mortgage rates have been moving around quite a bit lately, and if you're thinking about buying a home, it can feel a little unsettling. Here’s the reality: this kind of movement is completely normal. When there’s economic uncertainty, inflation concerns, or global events impacting financial markets, mortgage rates tend to fluctuate more than usual. That doesn’t mean the market is broken, it just means we’re in a more reactive environment. And while you can’t control what mortgage rates do day-to-day, you can control the factors that determine the rate you qualify for. What You Can Control If you're planning to buy a home in Tulsa or anywhere in Oklahoma, here are the three biggest things that impact your mortgage rate: 1. Your Credit Score Higher credit scores typically lead to better interest rates. Even small improvements can make a meaningful difference in your monthly payment. 2. Your Loan Type Different loan programs, like conventional, FHA, VA, or specialty programs, can...

As we step into 2026, we’re taking a moment to reflect on what an incredible year 2025 was for Oklahoma Mortgage Group and the families we were honored to serve across the Tulsa metro. Last year, our team helped 258 families achieve homeownership and funded over $72 million in home loans . Behind those numbers are first-time homebuyers, growing families, move-up buyers, relocations, refinances, and fresh starts, each with a unique story and goal. More Than Just Numbers While we’re proud of the milestones we reached in 2025, what matters most to us is how we reached them. Every loan represents trust; trust in our advice, our process, and our commitment to doing what’s right for each client. As a local Tulsa mortgage lender , we believe in educating buyers, clearly explaining options, and structuring loans that support both short-term affordability and long-term financial health. Whether a client is buying their first home or their fifth, our approach remains the same: people firs...

The Federal Reserve just announced another 0.25% rate cut , and if you’re thinking about buying a home in Oklahoma, you’re probably wondering what that means for your mortgage rate and monthly payment. At Oklahoma Mortgage Group , we’ve been walking our clients and realtor partners through what this actually means in real life—not just on Wall Street. Does a Fed Rate Cut Mean Lower Mortgage Rates? Not automatically. The Fed controls the Fed Funds Rate , which directly impacts short-term rates like credit cards, auto loans, and home equity lines of credit. Longer-term fixed mortgage rates , like the 30-year conventional loan most Oklahoma buyers use, are more influenced by: Inflation data Jobs reports Bond market expectations (especially the 10-year Treasury) So while a Fed cut can help create a friendlier rate environment over time, it doesn’t guarantee your 30-year mortgage rate will drop right away. Why Waiting for the “Perfect Rate” Can Backfire Many buyers say, ...

  Did you know you can buy a manufactured home with no money down using the USDA loan program ? USDA loans aren’t just for farmhouses. Many buyers in eligible rural and suburban areas can qualify for this no-down-payment mortgage option. That means affordable homeownership could be closer than you think. At Oklahoma Mortgage Group, we’ll walk you through eligibility, help you understand the guidelines, and see if this program is the right fit for you. Homeownership is within reach — and you may not need a down payment to get there. Want to explore your options? Call or text us today at 918-361-1550, or set up a quick phone chat with our team to talk about USDA loans and manufactured home financing.

Everyone’s waiting for mortgage rates to fall, and according to NAR, the “magic number” many buyers are hoping for is 6%. But will we see that anytime soon? Most forecasts show rates staying in the mid-to-low sixes through the end of next year. Still, right after the latest weaker-than-expected jobs report, rates dipped to 6.55% — the lowest point this year. That gave buyers and realtors hope that small changes may be on the way, but experts don’t expect a major drop in the near term. Here’s what matters: when rates eventually hit 6%, it could unlock 5.5 million more buyers. That means waiting could also mean facing far more competition and less negotiating power. If buying now works for your budget, moving sooner rather than later could give you an advantage before the market heats up again. Want to talk about your options and run the numbers together? Schedule a quick phone chat with us , or call/text Oklahoma Mortgage Group at 918-361-1550 today to discuss your next best steps.

On last week's all-company call, we recognized 7 Loan Officers, including 3 former President’s Club producers, who left Waterstone Mortgage but returned in the last quarter. This trend has become so common that we now have a name for it: Boomerang Hires. Why did they come back? The answer was unanimous: Waterstone Mortgage is simply the best place to grow your business. Although I’m not a Boomerang Hire, I took a deep dive into other companies, and the reality is—the grass isn’t greener elsewhere. The resources, support, and culture at Waterstone—especially within Oklahoma Mortgage Group (OMG)—are unmatched. That’s why OMG is the top mortgage branch in Tulsa and one of the most recognizable and respected mortgage teams in the area. We’re looking to add at least two more experienced LOs in 2025. Here’s what sets OMG at Waterstone Mortgage apart: 1. Top-Tier Sales Support – A dedicated local front and back-end team so you can focus on relationships and referrals, not paperwork. 2. Ma...

  Positive inflation news this morning has Tulsa mortgage lenders hopeful that the recent uptick in interest rates might be leveling off. If you've been considering buying a home in Tulsa, this could be a sign that it's time to act. What's Happening with Tulsa Mortgage Rates ? Recent increases: Over the past few weeks, we've seen interest rates climb slightly, which has caused some buyers to pause. Today's news : New inflation data released this morning is lower than expected, which is good news for anyone looking for Tulsa home loans. Lower inflation generally helps keep mortgage interest rates stable or even nudges them lower. The outlook: While we're still waiting on additional economic data to be released this week, the early signs are encouraging. It's possible that we've seen the peak of this recent rate increase. What Does This Mean for Tulsa Home Buyers? Opportunity: If you've been pre-approved for a mortgage or are considerin...

Understanding the Latest Federal Open Market Committee (FOMC) Decision At its July 2024 meeting, the Federal Open Market Committee announced no change to the Fed funds rate, keeping it at 5.25% to 5.50%, the highest level in 23 years. This decision aligns with market expectations and reflects a careful approach by the Fed despite recent calls for a rate cut. Key Takeaways for Tulsa Realtors and Homebuyers Future Rate Cuts Expected : Market anticipation is high (near 100%) for the first rate cut at the next FOMC meeting on September 18. Future rate cuts could begin a new cycle, potentially starting in September. Market Indicators : Balanced risks between employment and price stability suggest a shift towards rate cuts. Keep an eye on upcoming inflation and job market data. Challenges Ahead : Consider the impact of the presidential election, geopolitical risks, and economic trends. Anticipate changes in U.S. Treasury financing auctions affecting interest rates. Near-Term Focus : Monitor ...