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Battery Levels are Back Up – and so are Mortgage Rates

Mark’s Market Update – 2/10/2022

Why? Well – watch the video and find out. Rates overall are now trending at 4.0% to 4.25% depending on the loan program, credit scores…

Snomicron 2.0 in the Austin area was not as bad as was feared – and certainly not to the level of last year. We (here at the Mark Smith Team) managed to avoid it and in so doing, have recharged batteries – ready and rarin’ to go. A little bit of a sunburn, a couple of extra bottles of tequila…but, that’s par for the course.  

The market is going to start heating up again – we’re already seeing it pick up in various parts…more offers, more over-list offers, and it’s becoming more and more important to get the ducks in a row (or docs in a row) and get full preapproved when looking at buying a home…

– With a local lender

– With someone who knows the market

– With a good appraisal panel 

We just got a clear to close/docs out for a client whose original non-local lender ended up with an appraised value $40,000 below the sales price – and caught everyone off guard. Our local panel appraiser? Value was off by $2,000…which was a very, very, very close miss – and much more in line with what everyone expected. Are we better than the competition?

Yes. Yes, we are.   

Local lenders. Local Realtors. Local companies. That’s where it’s at. We’re here to help – each time, every time…and it’s what we do.

And, dare we say…we’re pretty darned good at it.