Ep.45 - Mortgage Update with Mike Domangue
Ep.45 - Mortgage Update with Mike Domangue
Keywords
mortgage rates, real estate, home buying, interest rates, loan products, market trends, FHA, VA loans, home financing, housing market, buyer strategies
Summary
In 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."
Chapters
00:00 Introduction to the Podcast and Guest
02:12 Current Mortgage Rates and Market Trends
05:47 The Impact of Historical Rates on Buyer Behavior
09:32 Navigating the Market: Selling and Buying Strategies
13:06 Innovative Loan Products and Financing Options
17:55 Conclusion and Contact Information
Hosts
Ben Harang, REALTOR® La.
License #: 36589
Keller Williams Realty Bayou Partners
Mobile: 985.859.2500
Office: 985.262.4400
benharang.com
Clint C. Galliano, REALTOR®
La. License #: 995704723
Keller Williams Realty Bayou Partners
Mobile: 985.647.4479
Office: 985.262.4400
clintcgallianorealtor.com
Guest Contact Information
Mike Domangue
Senior Mortgage Loan Officer
mike.domangue@hancockwhitney.com
Hancock Whitney
Main Branch
7910 Main Street
Houma, LA 70360
Cell: 985-688-0155
EFax: 985-289-6285
NMLS# 855188
ApplywithMikeNow.com
Produced by:
Clint Galliano
Music by:
Wiggins Studios
Creators and Guests
Host
Ben Harang
Ben Harang brings over 30 years of experience as a licensed agent and currently works with Keller Williams Realty Bayou Partners. Ben’s experience includes single family residential sales, large land sales, subdivision development, building new construction residential and commercial projects and selling REO/Foreclosed properties.
Host
Clint C. Galliano
Clint Galliano, who’s been an agent since 2020 & an investor since 2008, also with Keller Williams Realty Bayou Partners. Clint’s experience includes residential sales, residential rentals, property management, and various avenues of investing.
