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Let’s talk about buying and renting property. Many people prefer to rent their living space instead of securing a mortgage, based on different facts: no long-term commitment, lower payments, fewer maintenance costs, to name a few. And, when people come to get some kind of advice with me, their op...
Mortgage sales and applications saw a big drop through all of April. There’s been a huge growth on external economies (mainly european), this normally leads to an increase in local concerns and fears. As a consequence, we’re seeing an increasing drop on new mortgage acquisition and even less acti...
We’ve seen a slow increase in home prices throughout this year (almost 0.7%). Appreciation might be increasing slower than in 2018, but we’re expecting a radical increase over the next month (CoreLogic’s forecast says it might be around the 4.7% - 5.0% range). “During the first two months of the ...
As I wrote in the previous post, when the 10 Year Treasury yield gets below the 2 Year’s Yield (which is right now at 2.25), it’s usually when we see a recession coming. Again, this is nothing to be scared about, recessions are normal. But when we talk about mortgages and real estate it’s not a b...
People ask me all the time: “Phil, why do you keep saying a recession is coming?” I don’t wanna sound like the crazy guy screaming “the end is nigh!” around the street but, there are two big indicators to consider. First of all, unemployment. Unemployment has been historically low for a couple of...
In 2018, more than 250 executives from diverse mortgage companies (Mortgage Bankers Association) in the USA asked the CFPB (Consumer Financial Protection Bureau) to adapt the Loan Originator Compensation rule to new standards. Reducing this compensation would let mortgage companies compete in the...
I want to talk a little bit about the positive and negative sides of a VA Mortgage Loan. So, I’ve talked about the main benefits a VA Mortgage can provide for you and your family, how you get the best financing available in the market today.  The VA Home Loan is one of the few mortgages that requ...
I remember when I joined the army I’d heard about the VA Loan and wasn't sure what it was about. I just heard it was really good. Now I know for a fact (having received one myself) that it’s really good. The VA Loan is made for veterans, military members currently serving in the U.S. military, re...
Housing affordability in South Florida is still being affected by last year's hurricane season. Nevertheless, the huge drop on mortgage delinquency shows that the market is recovering at a big pace, and not just in South Florida, but other US housing markets as well. "The last few years have been...
This week, the housing system became a new point in president Trump’s agenda, after he signed a memo regarding the long overdue reform, handing the task to the Department of Housing and Urban Development and the Treasury Department.A year ago, the president’s budget gave a boost to the HECM progr...

Phil Stevenson, CRMP

"Mortgage Nerd" in Miami, Florida and Texas
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