Adam welcomes Brandon Caldwell, Senior Mortgage Advisor with Ruoff Mortgage to discuss rising interest rates and the changing mortgage market for residential purchases.  Brandon shares more about certain changes to regulation that make it more expensive for a qualified borrow to get a mortgage and more affordable for a less qualified borrower.  Brandon also talks more about loan level price adjustments and how they work during the mortgage process.  Given the prominence of new construction deals happening in the market Brandon explains those products and how they are trickier than you may anticipate.  Adam and Brandon also discuss some of the lesser utilized yet still viable products in today’s market including Bank Statement Loans, No Doc Loans, and DSCRs.  Lastly, Brandon shares his advice to those who think they should wait until mortgage interest rates decline.  

Email Brandon: B.Caldwell@ruoff.com 

Brandon Caldwell
Senior Mortgage Advisor 
Ruoff Mortgage, NMLS ID: 141868
NMLS#:2014161
OH:MLO 015249.001

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— Adam Koos, CFP®, CMT® is a CERTIFIED FINANCIAL PLANNER and one of only 2,600+ Chartered Market Technicians (CMT) worldwide, as well as a Certified Financial Technician (CFTe®) thru the International Federation of Technical Analysts (IFTA). He’s been named by Columbus Business First as one of their 20 People to Know in Finance, was a recipient of the Forty Under 40 award, is ranked by Investopedia as one of America’s top 100 Most Influential Advisers, and is the winner of the coveted Better Business Bureau Torch Award for Ethical Enterprising. Adam serves his clients as the president and portfolio manager at Libertas Wealth Management Group, Inc., a Fee-Only Registered Investment Advisory (RIA) firm, located in Columbus, Ohio.

******* The audio and video contained herein is intended for those interested in finance, searching for a financial advisor, wealth manager, financial planner, and/or retirement planning. While we are CERTIFIED FINANCIAL PLANNERS (through the College for Financial Planning) and work with clients all over the country, our business is run out of Columbus / Central Ohio. If you are looking for wealth management, financial planning, a financial counselor, wealth advisor, or financial consultant – especially a fee-only, Fiduciary Registered Investment Advisor – we provide money management and financial services for individuals and couples (i.e. – a 401k rollover), as well as business owners (i.e. – 401k, SIMPLE, SEP IRA’s, as well as cash balance and other various retirement plans)….(read more)

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In a recent episode of The CASH Podcast with Adam Koos, the focus was on rising interest rates and their impact on the changing mortgage market. The discussion shed light on how these rate hikes are transforming the landscape for borrowers and lenders alike. Let’s delve deeper into this informative conversation.

Interest rates play a pivotal role in the mortgage market, dictating the cost of borrowing for potential homebuyers. Over the past few years, interest rates have remained historically low, fueling a surge in home sales and refinancing activity. However, as economic conditions improve and inflation concerns escalate, the Federal Reserve has been gradually increasing interest rates to curb potential economic overheating.

During the podcast episode, Adam Koos, a Certified Financial Planner and host of The CASH Podcast, emphasized the need for borrowers to be prepared and informed about the changing nature of the mortgage market. With interest rates on the rise, Koos pointed out that it’s crucial for individuals to understand the potential impact on their mortgage payments and overall affordability.

One of the key takeaways from the conversation was the importance of timing when it comes to refinancing. As interest rates continue to climb, individuals who may have been on the fence about refinancing their mortgage should consider taking action sooner rather than later. Waiting too long could mean missing out on potentially lower rates and increased monthly payments.

Koos also highlighted the significance of financial planning and budgeting in this changing interest rate environment. It’s essential for homeowners to evaluate their current financial situation and determine if they can comfortably afford the potential increase in mortgage payments. Additionally, he stressed the importance of working with a trusted financial advisor to navigate these changing waters and make informed decisions.

Another major aspect discussed during the podcast was the impact of rising interest rates on housing affordability. As rates increase, the cost of borrowing becomes more expensive, which can deter some potential buyers from entering the market. This shift may lead to a slowdown in home sales and prices becoming more negotiable. For homeowners looking to sell, it’s crucial to be realistic and adaptable in pricing strategies to attract buyers who may be more hesitant due to higher interest rates.

From a lender’s perspective, the rise in interest rates brings both challenges and opportunities. Lenders need to reassess their business models and strategies in response to changing market conditions. The podcast episode emphasized the importance of lenders being proactive in offering alternative loan products with different terms to cater to borrowers’ changing needs. In a rising rate environment, having a diverse range of mortgage options can be a significant competitive advantage.

In conclusion, the episode of The CASH Podcast with Adam Koos shed light on how rising interest rates are reshaping the mortgage market. Borrowers need to stay informed and proactive in managing their mortgage payments and considering refinancing options. Homebuyers should be prepared to adjust their budget expectations to account for increased interest rates, while lenders should adapt their strategies to cater to evolving borrower demands. The key takeaway was the importance of understanding this shifting landscape and working towards financial stability amidst an evolving interest rate environment.