Market Responds Favorably to Paris Exit

June 5, 2017

Investors saw Trump’s exit from the Paris Climate Accord as favorable to the business sector, which moved both stocks and bonds forward last Friday. Meanwhile, May employment numbers were “meh” as monthly job gains and payroll numbers hit below forecast. At least the unemployment rate fell to a 16-year low of 4.3% and the underemployment (those who work part-time but want full-time) fell to 8.4%. Overall, the economy continues to be steady but I think everyone is waiting to see if Trump can drive meaningful policies to support the U.S. economy.

Geoffrey Davis – Mortgage Loan Consultant 

NMLS #206192
First United Bank & Trust

D: 214-529-9622

F: 855-239-6079
6401 S. Custer Rd.

McKinney, TX 75070


Bicycle buying is easy!

June 4, 2017

PSA to parents
As the school years wraps – many of you might be heading out to pick up a new bicycle for your kid as they grow out of their old one. As a dad and a “bike guy” please head to a bike shop instead of a big box store this time.

I have been riding with my kids to school since kindergarten and the quality level of mass market bicycles is at an all time low. These big store bikes are less money – I get it but they are super heavy, have the lowest cost parts on them that break quickly and are assembled by a person with little to no training.

So yes, when you go to Richardson BikeMart (RBM) here is Frisco you are going to gasp at what a kids bike will cost you but they are worth every penny!! None of the RBM folks are on commission so when they talk with you about bikes, helmets and the rest – it is all for your benefit, not theirs.  

Their main bicycle lines are Specialized and Trek and as the kids grow, RBM will let you trade those bikes back in if you don’t want to deal with selling them in your own.

Kids need to experience the joy of riding a real bicycle!!!


Trump Turmoil

May 23, 2017

With allegations surrounding Trump around his relationship with Russia, investors sold stocks and invested in bonds. As a result, the stock market took a dive on Wednesday with a slight recovery on Friday. With Trump tied up in drama, he’s making little progress on moving forward the business-friendly legislation he promised on the campaign trail. If he continues on this path, I expect we will see some economic weakening until he turns it around. The upside is that the Fed is likely to try to buffer the situation by not being too aggressive on moving rates up. Net-Net, I do not see massive rate movement on the horizon.

Geoffrey Davis – Mortgage Loan Consultant 

NMLS #206192
First United Bank & Trust

D: 214-529-9622

F: 855-239-6079
6401 S. Custer Rd.

McKinney, TX 75070          

 


Full Disclosure of Back-End Basis Points

May 17, 2017

One of the questions I often get is whether or not it is worth it to buy down your rate or keep the cash? In most circumstances, buying down your rate just doesn’t make sense. It does not really save you a ton and if you’re moving into a new home you are likely to need the cash for other things. If you have a client who is wondering what is the right answer for them, make sure their lender is providing full disclosure IN WRITING around the costs to buy down the rate and if any lender credits are available. If a lender is only speaking to it verbally, there’s a problem. 

Back in the day, before the Dodd-Frank Act, lenders used to commonly make a basis point on the front of a loan and on the back.  Post Dodd-Frank, lenders should disclose how much it would cost to bring a buyer’s interest rate down and if there are any lender credits available to them. Armed with that, byers should be in a position to make a better decision. This can be a tricky topic–feel free to reach out to me anytime with questions!

 

Geoffrey Davis – Mortgage Loan Consultant 

NMLS #206192
First United Bank & Trust

D: 214-529-9622

F: 855-239-6079
6401 S. Custer Rd.

McKinney, TX 75070          

 


Controversy Continues

May 16, 2017

Investors don’t like the unknown and right now the degree of political drama that’s out there has driven those with money to spend to the sidelines. The firing of FBI Director Comey and the threats N. Korea has directed at the U.S., have created enough tension that the market is staying flat. Initial and Continuing Jobless Claims have hit new lows but April’s Retail Sales with an increase of 0.4% vs. the expected 0.6%. What does this mean? While the economy is still strong, consumer and investors alike are thinking a little harder about how they are spending their money.

Geoffrey Davis – Mortgage Loan Consultant 

NMLS #206192
First United Bank & Trust

D: 214-529-9622

F: 855-239-6079
6401 S. Custer Rd.

McKinney, TX 75070          

 


The Mayor of Frisco, TX

May 7, 2017

‪Congratulations Frisco, TX you went to the polls & voted to #ChooseCheney & today Jeff Cheney is our new #MayorOfFrisco – we all win!!‬


Vote Jeff Cheney for Frisco Mayor 

May 6, 2017

Polls open today till 7pm and then Frisco will have a new Mayor. Locations listed on the image below.


My hope is you will join me in my effort to have my friend Jeff Cheney become that next Mayor! #ChooseCheney