Fantasy Football + Chutes & Ladders in the Rate Market

I thought it would be fun to put together an Augusta Financial Fantasy Football Challenge and see how many people in the industry we can get involved!

FREE Fantasy Football - Weekly Prizes, Year-End Prizes & Bragging Rights!
There is no cost to enter. Augusta Financial is sponsoring the leagues, and we’ll have weekly prizes, end-of-year prizes, and, most importantly, bragging rights!
I know what some of you are thinking:
“I've never played fantasy football before." Neither had a lot of us! We did this for a few years a long time ago in the office and had a great time. And if you work Sundays and don’t want another thing to keep track of, grab a relative, friend, son, daughter, spouse, whoever, sit down together, put a FREE team together, and join the fun.
It’s not rocket science. It’s just a good time!
Click below and join a league!  

ROOKIE DIVISION

Perfect if you're new to fantasy football or just want to have some fun.

Tuesday, August 25 - Draft at 5:00 PM
Join Rookie League #1

Wednesday, August 26 - Draft at 5:00 PM
Join Rookie League #2

Thursday, August 27 - Draft at 5:00 PM
Join Rookie League #3

 VETERAN DIVISION
Best for: Players who already know their way around fantasy football and have played for several seasons.
Think you know what you're doing? Come prove it.

Tuesday, August 25 - Draft at 6:00 PM
Join Veteran League #1

Wednesday, August 26 - Draft at 6:00 PM
Join Veteran League #2

Thursday, August 27 - Draft at 6:00 PM
Join Veteran League #3

Meanwhile… Remember the game Chutes and Ladders?
That's about the best way I can describe the interest-rate market over the last 40 days, and the last two days have been no different.
Yesterday was a chute. Today is a ladder.
Yesterday, the bond market liked the news that the U.S. Treasury plans to increase its buybacks of longer-term Treasury securities.
More demand for bonds can push bond prices higher and yields lower. Lower Treasury yields can, in turn, help mortgage rates.

But I want to be very clear about something:
This is NOT 2020 or 2021.

Back then, the Federal Reserve was purchasing roughly $120 billion per month in Treasury securities and mortgage-backed securities. That enormous amount of buying helped push mortgage rates to historic lows.
The support we're talking about today is nowhere near that magnitude.
So here’s the easiest way to think about it:
2020 - 2021 = FIRE HOSE
Today = GARDEN HOSE

Yesterday’s news gave bonds a boost and helped the rate conversation.
Today, rates have moved back up as the market returns to wrestling with inflation, oil prices, and what those factors could mean for the Fed.
And that’s the environment we’re in right now.
One day we get encouraging news and slide down the chute.
The next day inflation, energy prices, or another headline sends us climbing right back up the ladder.

Chutes and Ladders.
If the Fed eventually begins purchasing large amounts of longer-term Treasuries or mortgage-backed securities again, that would be a much more significant development for mortgage rates.
Until then, we keep watching the board, watching the data, and looking for opportunities.
And while we're doing that…

Pick a fantasy team and come have some fun with us!
Free Fantasy Football. Weekly prizes. Year-end prizes. And plenty of bragging rights.

Interest Rates
See above!
Loan Programs Snapshot

• Government loans (FHA/VA/USDA): in the 5s –
• Conventional (≤ $832,750): low 6s
• High-balance: mid to high 6s
• Jumbo: Mid 6s
• Bridge Loans  7.75-7.99

Additional options:

• Bank statement loans (10% down+)
• P&L loans (20% down, no bank statements)
• 0% down options (620+ score)
• DSCR loans (15% down)
• Buydowns Available (3/2/1, 2/1, 1/0)
• Private Money loans – Hard Money  
• Construction Loans
• 203K loans
• Commercial Loans
• Fix and Flip Loans  

Rates subject to change without notice.
Condo Update
Good news:

• Arroyo West is off the naughty list! YAY!    

Bad news:

• Del Prado – deferred maintenance! Boo!  

We love your Non-Warrantable Condo loans!!
Need help checking a condo? Call me, and we can look it up in real time.
Also:
Full California "naughty list" available here:

https://mikemeena.com/non-warrantable-condos/

Let's Connect
If you or your clients, friends, or family need guidance, I'm here.

📞 661-291-2222 (Direct)

📞 661-714-6258 (Cell)

📞 661-260-2970 ext. 2222 (Office)

📧 Mike@AugustaFinancial.com

Sincerely,