The average rate on a 30-year, fixed-rate mortgage could hit 2.9% in 2021, according to Fannie Mae's April housing forecast!

The housing market growth with the current situation is unknown; however, mortgage rates and a desire for more space could drive our market up. After all, would you rather a few hundred cows within a mile radius or a few hundred people?

The forecasted low-interest rates for 2021 also predict a significant uptick in mortgage originations. The forecast is calling for purchase and refinance originations above 2019 levels in 2021.

The forecast anticipates, overall, a 3.1 percent contraction in real gross domestic product, followed by a rebound of 4.8 percent in 2021.

“The historically rapid decline in economic activity,…

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From a recent article by University of Montana, researchers in the Center for Translational Medicine at the University of Montana have been awarded $2.5 million in funding from the National Institutes of Health to identify and advance a COVID-19 vaccine candidate.

The principal investigator on the two-year award is Dr. Jay Evans, the center director and a research professor in UM's Division of Biological Sciences.

"When the call came from NIH in February to shift focus and develop a vaccine against SARS-CoV-2, we quickly adjusted lower priority vaccine projects to focus our efforts on this urgent need," Evans said. "Our dedicated team of experienced researchers stepped up in the face of school closures, stay-at-home orders and social distancing to rapidly…

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Montana also has the lowest number of hospitalizations, per capita, in the nation.

Wednesday, April 22, 2020/Categories: Governor's Office/Tags:

Governor Steve Bullock today announced a gradual and phased reopening of the state beginning Sunday for individuals, and extending to businesses on Monday.

There are very few states in the country that can say they have seen the number of positive cases decline over these past weeks. Montana can say that because, together, we have made that decline in cases possible,” Governor Bullock said. “While there is reason for optimism this is not a time for celebration. I am going to ask Montanans to continue to go to great lengths to protect one another, to continue looking out for our neighbors who need it…

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After 5 states extended their stay at home order, Montana is now the only state planning a reopening this week. Colorado is next on the list, except Denver.

Montana is still slated to begin lifting restrictions on Friday, April 24.  Democratic governor, Steve Bullock, issued a statement last Friday saying: “I want to open things up as much as any Montanan. We will do it in a way that will protect Montanans’ lives and the recovery of our economy.”

Montana is also surrounded by states without a "Stay At Home" order. North & South Dakota, Utah and Wyoming all avoided the order, but have restrictions that are similar as well as closed schools.

For a list of which states are scheduled to open and the timeframe, visit this site.

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Understanding options to stay in your home

Struggling to make your mortgage payments due to a short- or long-term financial hardship? There are options to help you stay in your home.

As soon as you realize you have (or potentially will have) a problem paying your mortgage, reaching out to your loan servicer (the company listed on your mortgage statement) is the best decision you can make – and one that may help you keep your home. They are your best resource for identifying a solution that’s right for your individual situation.

Your loan servicer will work with you to determine if you're eligible for any of the following workout options to stay in your home.Refinance

  • This option will completely replace your…

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Given the volatility of mortgage rates in recent weeks, time is of the essence for those looking to secure cheap home financing!


Mortgage rates largely remained unchanged over the past week, but their ups and downs since the beginning of the year have created challenges for those looking to get a loan to buy a home.

The 30-year fixed-rate mortgage remained flat at an average of 3.33% during the week ending April 9, Freddie Mac FMCC, -0.34% reported Thursday. A year ago, the 30-year fixed-rate mortgage averaged 4.12%.

The 5-year Treasury-indexed hybrid adjustable-rate mortgage also stayed the same over this last week, averaging 3.4%. The 15-year fixed-rate mortgage, meanwhile, fell five basis points to an average of 2.77%.

Freddie Mac’s…

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We recently asked for a list of the following from our advisors and staff, here is what they said and hopefully a few ideas for you to occupy your time.
1. Favorite Movie  2. Favorite Book 3. Favorite Netflix TV Show 4. Best recipe 5. Kids Activity (at home) ________ Elisa: 1.  Favorite Movie - Eat Pray Love and Erin Brockovich 2. Favorite Book -  F*** Leadership and High-Performance Habits 3. Favorite Netflix TV Show -.... Greys Anatomy, The Ranch, Longmire, Any kind of detective show (NCIS, Bones, Criminal Minds, etc) 4) My mom's Carrot Cake (I will make it for the office one day) 5) We work out as a family, bike ride, hike, attempt to ski (haha) COOK (that's a big one for Joseph) 

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With all of the bad news being thrown at us, here is a little glimmer of positivity...turn off the news and just look up what you need to know and try not to get depressed, we will get through this sooner than later.

In the last few weeks, there has been a lot of volatility in the markets- stock markets which in turn direct our mortgage rates via the 5 and 10 year Treasury, we watch the stock markets react to the current news and go up and down drastically. Trying to time my IRA contribution or buying a great stock on sale is like trying to catch a falling knife. Well, this week we have seen 3 consecutive days on the upswing, finishing over 22,500 today on the Dow Jones Industrial, 7,797 on the Nasdaq and 2,630 on the S & P. Expect even more volatility…

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One of our advisors, the lovely Amy Alvarado is married to a doctor at our local hospital. They are worried about running low on masks so she is busy helping collect new N95 masks or handmade masks per the pattern listed below.

Thank you to all who have donated so far! Bozeman Builder/Contractor/Painter/Handyman Friends: We have a HUGE favor. Bozeman Deaconess, like all other hospitals around the country, is experiencing a shortage of N95 masks. If you have any unused N95 masks that you can donate, please text or email Amy Alvarado and she will pick them up and drive them to the appropriate hospital contact.

Physicians/Nurses/First Responders are working diligently to keep us all safe. Please, let's do what we can to keep them (and their…

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Anyone that bought in 2018 or early20 19 (or has a rate above 4.25%) it is highly likely they can benefit from the lower rates.  These rates may continue to drift down, or if the virus scare abates and markets rebound we may go back to where we were a few weeks back.  
BUYING POWER:
  in a market like ours where prices move up by 7-9% per year and wages do not, buying power is diminished......lower rates help to offset that of course. 

Example:  a loan amount of $350,000 with a rate of 4.125% with Principle & Interest of $1696, borrowing power can go up to $378,000 at 3.5% while the payment stays $1697. 

Pay attention to the mortgage rates, it could be a big win for you during this time!

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