Ep.45 - Mortgage Update with Mike Domangue

Ep.45 - Mortgage Update with Mike DomangueKeywordsmortgage rates, real estate, home buying, interest rates, loan products, market trends, FHA, VA loans, home financing, housing market, buyer strategies SummaryIn this episode of the R.E. Real Estate Podcast, hosts Clint C. Galliano and Ben Harang welcome mortgage loan officer Mike Domangue from Hancock Whitney. They discuss the current state of mortgage rates, the impact of historical rates on buyer behavior, and innovative loan products available for buyers. The conversation emphasizes the importance of finding balance in the housing market and provides insights into navigating buying and selling strategies. Mike shares valuable information about new loan products that offer 100% financing and no PMI, making homeownership more accessible. Takeaways·         Mortgage rates are influenced by the 10-year treasury bond.·         Historical low rates during 2020-2021 are unlikely to return.·         A balanced market is better for both buyers and sellers.·         Current rates for government loans are in the mid-fives to upper-fives.·         Buyers are hesitant to sell due to low existing mortgage rates.·         New loan products are available for low to moderate income buyers.·         100% financing options are now offered with no PMI.·         The Fed is expected to cut rates soon, impacting mortgage rates.·         It's cheaper to buy a house than to rent in the current market.·         Understanding census tracks can unlock financial benefits for buyers. Sound bites"We need to find a balance.""The Fed's gonna cut rates.""100% financing, no PMI." Chapters00:00 Introduction to the Podcast and Guest02:12 Current Mortgage Rates and Market Trends05:47 The Impact of Historical Rates on Buyer Behavior09:32 Navigating the Market: Selling and Buying Strategies13:06 Innovative Loan Products and Financing Options17:55 Conclusion and Contact Information  Hosts Ben Harang, REALTOR® La. License #: 36589 Keller Williams Realty Bayou Partners Mobile: 985.859.2500 Office: 985.262.4400 [email protected]  Clint C. Galliano, REALTOR® La. License #: 995704723 Keller Williams Realty Bayou Partners Mobile: 985.647.4479 Office: 985.262.4400 [email protected]  Guest Contact InformationMike DomangueSenior Mortgage Loan [email protected] WhitneyMain Branch7910 Main StreetHouma, LA  70360Cell: 985-688-0155EFax: 985-289-6285NMLS# 855188ApplywithMikeNow.com Produced by: Clint Galliano  Music by: Wiggins Studios  Click here to view the episode transcript. Click here to watch a video of this episode.