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Michael DiLucchio

Nuwave Rate Update - 9.30

September really decided to disappear on us. Here is our month-end rate update. TLDR - Par rate has risen to 7.125% in the last week. FED 50 bps rate hike should be priced in throughout October. If CPI Print (Oct 13th) is worse than expected, that hike could be

Why "Discount Points" will be required for the next few months

TLDR - Your borrowers will be required to pay points for the next few months on any purchases or ask for seller concessions to do so. Set the expectations accordingly. To understand why, you first need to understand the secondary market for mortgages - which many view as "Wall

"2/1 Buy-down" For Your Buyers - Explained

As interest rates continue to rise, buyers are finding it harder to afford the mortgage payments on homes they are interested in purchasing. We are seeing buyers purchase "points", opt into adjustable-rate mortgages (ARMs), or even delaying a purchase for the foreseeable future. Another tool to consider using

Lender Soapbox Podcast Ep 3:

Hey everyone! Our new podcast is live! Today, we talk about our initial reactions to the FED announcement, labor market impacts, interest rate forecasts for 2023, and silver linings in the housing data for first-time home buyers. Check us out on YouTube or anywhere you listen to Podcasts! Links below.

Nuwave Rate Update 9.22.22

Well, folks there you have it...the FED met yesterday and raised interest rates 75bps. That was not surprising to anyone. The more surprising comments came following that announcement. Jerome Powell indicated that the FED intended to continue increasing interest rates until the end of the year. That means, rates

The Lender Soapbox

We have officially launched! Both myself and our owner, Jerry Williams, have been working hard on a new podcast brought to you by Nuwave Lending - The Lender Soapbox. This will come out weekly and is designed for real estate professionals! We discuss current events in the real estate market,

The Break-Even Calculation

Rates are up over 6%, inventory has risen to the highest levels since pre-pandemic, mortgage applications are down 57% year-over-year. Welcome to the new normal. As I have written about previously, a great way to combat these high interest rates for new buyers is by "buying-down" the rate