Oklahoma Mortgage Group - Mike David

In the ever-evolving economic landscape of 2023, the importance of making wise financial decisions has never been more critical. A striking statistic has surfaced, highlighting a significant disparity in net worth between homeowners and renters. In 2022, homeowners had an average net worth of $396,000 compared to a mere $10,400 for renters. This means that homeowners had over 40 times the net worth of those who rent. This gap underscores a crucial point: the power of owning a home, especially in vibrant communities like Tulsa, Oklahoma. Homeownership: A Step Towards Wealth Building Homeownership is not just about having a place to call your own; it's a vital investment in your financial future. Every mortgage payment made towards your Tulsa home is a step closer to enhancing your wealth. Unlike rent payments, which contribute to someone else's financial goals, mortgage payments build equity in your property, increasing your net worth over time. The Tulsa Advantage Tulsa, Oklaho...

  If you're keeping a keen eye on the Federal Funds Rate, you're in for some interesting developments in the coming years. Here's what's on the horizon: The Pause Button is On First things first, mark your calendars for Dec 13, 2023, Jan 31, 2024, and Mar 20, 2024. Why? Because the Federal Reserve is hitting the pause button on these dates. That's right, no rate hikes or cuts. It's a time to take a breather and see how the economic winds are blowing. Trimming Down on May 1, 2024 Fast forward to May 1, 2024, and there's a small but significant change coming. The Federal Reserve plans a slight trim of 0.25%, bringing the Federal Funds Rate to a comfortable range of 5.00-5.25%. This move signals a cautious but optimistic approach towards managing the economy. Looking Ahead to November 2025 Peering further into the future, by November 2025, there's an anticipation of further reductions. The Federal Funds Rate is expected to cool down to a chill 3.80%. It...

The Tulsa Area's Hidden Gem for Homebuyers and Investors As the leaves change color and the year winds down, the real estate market in Bixby, OK (74008), continues to show vibrant signs of growth and opportunity. For those considering a move to the Tulsa area, Bixby offers a compelling case for potential homeowners and investors alike. A Look at Forecasted Appreciation The numbers are in, and they're looking up! With a 4.07% annual increase in property values forecasted over the next five years , investing in a Bixby home could mean watching your property's worth grow by over $68,000 in value. It's a significant figure that speaks volumes about the area's economic vitality. Bixby Market At a Glance Median Home Price: $335,259 — demonstrating a competitive market that's within reach. Average Days on Market: 55 — suggesting a healthy turnover rate that benefits both buyers and sellers. Historical Growth Patterns In Bixby, homes have appreciated by 6.86% over t...

  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...