Oklahoma Mortgage Group - Mike David

  In these pressing times with higher interest rates and scarce inventory, gambling on an inexperienced lender is risky! When the stakes are high, you need a trusted partner like Oklahoma Mortgage Group!   🌿 Precedent in Lending: In law, precedence is key to resolving new cases. Likewise in lending, a history of successful closings provides a blueprint for approving new, similar applications confidently and creatively. 🚀 Oklahoma Mortgage Group Advantage: - 1,000+ Successful Closings : Drawing from over 1,000 loans closed in the past 3 years, we don’t just rely on theory; we have practical, proven experience and a multitude of ‘precedents’ to draw upon to secure approvals, ensuring your clients enjoy a smoother, assured approval process. - 275+ new applications just in the last 3 months! Each one meticulously scrutinized, ensuring a path to approval is not just found, but masterfully crafted. - Expert Team : Our team, with 40 years of in-house processing experie...

Are you still renting a home? You might be unknowingly throwing your hard-earned money away! In this post, we’ll reveal some eye-opening facts about home ownership versus renting, and why now is the perfect time to invest in a home. Unbelievable Appreciation: Firstly, let’s talk about value. Since 1967, home values have surged by an impressive 933%! This significant appreciation rate is a testament to the solid and stable investment that real estate represents. On the flip side, rent prices have escalated by a staggering 1784% over the last 60 years, making renting a less economical option over time. Affordability in Focus: Now, let’s delve into the affordability aspect. The average mortgage payment-to-income ratio over the past four years is approximately 25%, with a peak at 28.5% in 2023. In stark contrast, the rent payment-to-income ratio averages at 40% during the same timeframe. This data clearly indicates that owning a home is more affordable than renting, even amidst the environ...

What Happened in the Recent Federal Meeting? - In the recent Federal meeting in September 2023, there were no changes made to the main interest rate (Fed funds rate). It remains between 5.25% and 5.50%. - Everyone was expecting this decision, so no surprises there. - The main insights from the meeting will come from the Economic Projections summary and the press conference by Chair Powell. Why Does This Matter? - Any changes in the Federal statements can impact the bond market. For example, if the Federal Reserve sounds more aggressive about controlling inflation, it could lead to higher bond yields. - This summary will give us an idea about future rate changes. It will tell us if rates might go up again or when they might be reduced. What's the Current Market Situation? - The economy is doing well, and there's a chance we might avoid a recession. - However, there's been a recent increase in inflation. This has made everyone watchful about how the Federal Reserve might reac...

You know, I've often thought that buying a home is a lot like seeking the perfect cup of coffee. Sometimes it's too hot or too cold, occasionally it’s too weak or too strong, and then there are those times you wonder, "Who put pumpkin spice in this in April?" But what if, in this bustling housing market, you could brew your dream home just the way you like it?  **Customize Don't Compromise!** Ever marveled at custom latte art? Those impressive foam images where a barista seems to have recreated a miniature Mona Lisa? Now imagine that kind of personal touch, but with your home. "But Mike," you ponder, "Isn't constructing a home a tad...complex?" Ah, not when Waterstone Mortgage has your back! **Constructing with Waterstone: The Perfect Recipe** Waterstone Mortgage offers an unbeatable One-Time Close Construction Loan, and here's what makes it so special: 1. **One-Time Close**: Eliminate the hassle of multiple closings. From land purchase...

  Picture this: the sun setting over a tranquil beach, the scent of freshly brewed coffee wafting through the air, and not a worry in the world about bills or financial constraints. This idyllic retirement dream is what most of us aspire to achieve. However, the harsh reality is that only 5% of retirees can bask in this independence without relying on social security payments. If you're determined to savor the sweet taste of freedom in your golden years, it's time to think beyond the norm and embrace the power of real estate as a cornerstone of your long-term financial strategy.   The Hard Truth   As we delve into the sobering statistics, it becomes clear that depending solely on social security payments can lead to a life of financial uncertainty. While the vast majority of retirees find themselves tethered to these payments, only a fortunate 5% enjoy true independence in their retirement years. This reality check should jolt us into action, compelling us to seek ave...

We find ourselves on the cusp of a significant market reset following recent turmoil caused by investors shorting mortgage-backed securities. To provide some clarity, when investors take a short position, they essentially bet on the failure of a security. In this case, the focus is on mortgage-backed securities, and as these securities approach predefined levels, many investors are poised to reinvest in them. (Here is a graphic explaining what mortgage-backed securities are and how they are created) This potential influx of reinvestment holds the power to invigorate the markets and potentially lead to a decrease in interest rates. However, our optimism is tempered by this morning's robust jobless claims report, signaling potential economic challenges ahead. Adding to this, tomorrow's address by Federal Reserve Chair Powell, set against the backdrop of the Jackson Hole summit meeting, is expected to shed light on the Fed's upcoming strategies. Should Powell hint at the need ...

Should I wait to buy a house? What are interest rates going to do? First, let me say that I completely understand your hesitancy. With high interest rates and soaring house prices, anyone could argue that it seems like a terrible time to buy a house. However, let's set aside opinions and focus on some facts. To predict where interest rates are headed, we need to look at their past behavior and reasons. In history, interest rates mostly followed inflation, except for temporary cases. Why is there inflation now? It is estimated that COVID caused $14 trillion in economic damage to our country. Putting so much money into the economy leads to inflation for years. While this might oversimplify the problem, it's a big reason. Printing lots of money makes things cost more and reduces the dollar's value. Healthy inflation is beneficial. Historically, during our strongest economic periods, inflation hovers around 2%, which the fed aims for. This target indicates robust and st...