Oklahoma Mortgage Group - Mike David

As potential homeowners in Tulsa keenly observe the ever-evolving mortgage landscape, understanding the dynamics of Tulsa mortgage rates becomes paramount. In recent years, we've witnessed these rates plunge to historic lows, surge significantly, and now, they're beginning to retreat slightly. But what drives these fluctuations? The factors at play are multifaceted and intricate, with inflation, the Federal Reserve's strategies, and the 10-Year Treasury Yield playing pivotal roles. Inflation and the Federal Reserve's Influence While the Federal Reserve (commonly referred to as the Fed) doesn't set mortgage rates directly, its actions profoundly impact them. The Fed maneuvers the Federal Funds Rate in reaction to various economic indicators such as inflation, the overall economic climate, and employment statistics. As the Federal Funds Rate shifts, Tulsa mortgage rates tend to follow suit. During recent years marked by heightened inflation, the Fed escalated the Fede...

The year 2024 is shaping up to be a stellar one for prospective homeowners in Tulsa. Market indicators suggest a rare alignment of factors that could tip the scales in favor of buyers. For those considering taking the plunge into homeownership, understanding Tulsa mortgage rates and the broader market context is crucial. Let's delve into why this year, more than any recent one, is promising for entering the Tulsa real estate market. A Downward Trend in Mortgage Rates A significant barrier to homeownership has often been high mortgage rates, which inflate monthly payments and the overall cost of a home. However, Tulsa mortgage rates are on a downward trajectory from their recent highs. As per the latest insights, this decline in rates is not just a momentary dip but part of a trend that's gaining momentum, making the dream of owning a home more attainable. Slower Home Price Increases Simultaneously, the escalation in home prices is expected to decelerate. This doesn't mean p...

Buying a home in Tulsa is an exciting milestone. Whether you're eyeing a cozy bungalow in Brookside or a spacious estate in South Tulsa, understanding the language of real estate is crucial. As your trusted Tulsa mortgage lender, Oklahoma Mortgage Group is here to guide you through the maze of homebuying with ease. Here are key terms every Tulsa homebuyer should know: 1. Affordability This is where your journey begins. Can you comfortably afford the home you're eyeing? Affordability is all about whether your income is robust enough to secure a loan for a typical home in Tulsa, considering the most recent pricing, income data, and mortgage rates. It's a vital first step to quantify your dreams. 2. Appraisal An appraisal is an impartial valuation of a property, completed by a certified professional. This is essential, as it assures your Tulsa home loans are secured against a property that’s worth the investment. 3. Closing Costs Often overlooked but critically important, clos...

Every three years, the Federal Reserve’s Survey of Consumer Finances offers a window into the financial health of American households. The stark contrast between the net worth of homeowners versus renters is a testament to the power of real estate as an investment. In Tulsa, the trend follows the national narrative: homeownership remains a robust pillar of personal wealth. Tulsa Mortgage: The First Step Towards Financial Growth A Tulsa home loan is not just a debt; it's an investment into one's future. The equity accrued in a primary residence represents the largest share of most homeowners' net worth. Tulsa's competitive mortgage rates and diverse property market make it an ideal locale for buyers seeking to leverage homeownership for wealth accumulation. The Home Equity Effect on Tulsa's Homeowners In Tulsa, as in the rest of the country, home equity stands out as a significant contributor to net worth across all income brackets. This is particularly compelling in...

  In the dynamic world of Tulsa mortgages, a significant yet subtle shift has occurred, marking a moment of stability in an otherwise fluctuating market. For the first time in a week, we've seen mortgage rates move by a normal amount, breaking the pattern of the calmest, flattest seven days in over a year. This stability, though not particularly headline-grabbing, is a noteworthy change for those interested in Tulsa home loans. Delving deeper into today's mortgage landscape, we find that Tulsa's mortgage rates have hit their lowest point since May 2023. This milestone is undoubtedly a positive sign for potential homeowners and those considering refinancing in Tulsa. While these rates are indeed the lowest in over seven months, it's important to note that the decrease is not significantly lower than what we've observed in the past two weeks. Essentially, the average mortgage borrower would likely receive a similar quote today as they would have on other recent days. ...

Hey Tulsa! It's Mike David here, your trusted expert in Tulsa home loans and mortgages. Today, I'm beyond excited to share a success story that perfectly illustrates the magic of our unique home loan solutions here in Oklahoma. A Tulsa Home Loans Success Story That Will Wow You You've probably heard me sing praises about our One-Time Close Construction Loan. But let me share a real-life scenario that showcases why we're leading the pack in Tulsa mortgage options. Picture this: Our client opted for our 12-month long-term rate lock under this fantastic program. They embarked on their home-building journey in Tulsa, watching their dream unfold without the anxiety of unpredictable interest rates. Fast forward a year, and their beautiful home is ready. Now, it's time to transition to a 30-year fixed mortgage. The Unexpected Yet Welcome Twist Here's where the story takes a delightful turn. As we neared the end of the construction phase, we discovered that the interest...