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Tony’s Mortgage Minutes – September 14th, 2015

An article this past week in the S.A. Express News, stated that San Antonio drivers recently began to see retailers price a gallon of gasoline starting with the number 1. It’s a sign of more favorable gas prices to come, a situation that is expected to last at least through the end of the year. Texas is on pace to produce more oil than ever this year, and the nation is headed toward its highest output since 1972, even as the Energy Information Administration cut its forecast for the nation’s output. I personally think more money will be spent this Holiday Season by most Americans due to the savings just in gas prices. I know I will have more to spend. How about you?

Fewer Americans applied for unemployment benefits last week, keeping this key indicator of labor market health near historic levels. This is another reason I believe the Holiday Season will be better. As more Americans are put to work, more Americans will be out spending. And let’s face it, our economy depends greatly on the spending power of its consumers.

Mortgage rates edged up this past week. Average long-term U.S. mortgage rates inched up this week as financial markets awaited the Federal Reserve’s crucial decision this week on interest rates. Freddie Mac said the average rate on a 30-year fixed-rate mortgage edged up to 3.90 percent from 3.89 percent the week before. Still, rates are very low in my opinion.

Beginning October 3rd, 2015, any transaction involving a mortgage will use new Consumer Financial Protection Bureau (CFPB) disclosure forms. If you aren’t familiar with the New TILA-RESPA Integrated Disclosure (TRID) procedures and documentation, then get ready for a huge change. If you are, then get ready for a huge change too. If you need training on this or more information, let me know. I have some material I can send you on this.

Please remember me to anyone you know that may need a mortgage!

Tony Stevenson
Sr. Loan Officer | NMLS# 216213
“Your Local Loan Officer”
Direct: 210.376.6133 | Toll-Free: 800.460.6990 | Cell: 210.846.4666 |Fax: 866.782.9318
www.swbcmortgage.com/stevenson
9311 San Pedro Avenue, Suite 100
San Antonio, Texas 78216

© 2015 SWBC. All rights reserved. This article is for informational purposes only and not intended for consumer distribution. Do not use it as financial and/or political advice. The opinions expressed in this article are not necessarily those of SWBC Mortgage, CENTURY 21 The Hills Realty, or any of their affiliates. Information for this article from but, not limited to, the Wall Street Journal, S.A. Business Journal, NAMB, Real Estate on-line magazine, S.A. Express News and MBA News Link. To be removed from this email reply “remove” in the subject line. For questions/comments contact Tony Stevenson at 1.800.460.6990 or email tstevenson@swbc.com. Loans are subject to credit and property approval. Other restrictions and conditions may apply. Programs and guidelines are subject to change without notice. Rates are subject to change daily. This email is an advertisement from SWBC Mortgage Corporation, NMLS #9741. Corporate office located at 9311 San Pedro Avenue, Suite 100, San Antonio, TX 78216. 8540-5937 NMLS#9741(www.nmlsconsumeraccess.org)