Daily Rates & Headlines | Wednesday, December 21, 2022
Hello , Here is our Rate Sheet, and other interest rate observations from this morning. Good morning!! To view our entire rate sheet, simply click our Download Rate Sheet button.

Daily Rates & Headlines

For Friday, March 01, 2024

Hello ,
Here is our Rate Sheet, and other interest rate observations from this morning. Good morning!! To view our entire rate sheet, simply click our Download Rate Sheet button.

Your Account Executive
Jim Beech
(801) 864-6400
Jim@directmortgage.com
Today Rate APR Yesterday Rate APR
Today's Par Rate 6.375% 6.536% Yesterday's Par Rate 6.375% 6.608%
Today's Price 0.017 Charge Yesterday's Price 0.286 Charge
Your Lender Paid Comp plan is currently set at 1.625% which would result in a borrower net charge of 1.642%.

Desired Rate Formula = 1st rate above 0%

*Rate Scenario Details: Purchase, 30 Year Fixed Rate, Conventional, $750,000 Purchase, $600,000 Loan, 80% LTV, 0% DTI, Income=$0, Primary Residence, Single Family Residence - Detached, 84045 Zip Code, FICO=800,Escrows=Yes, Fee Out, Expiration=12 days.
Change
Daily Rate Sheet Compare Comparison Rate* Difference Today Yesterday
Lower 7% -0.012 -1.637 -1.625
Lower

MBS Price
Current Day
at time of Rate Sheet Generation

MBS Price
Up: 07/32
10 Year Treasury
4.19
Lower
MBS Price
Yesterday Close
MBS Price
Up: 02/32
10 Year Treasury 4.25
Rate Influence Economic Report Actual Expected Prior
Lower
Consumer Sentiment
76.9
79.5
78.8
Lower
ISM Manufacturing
47.8
49.5
49.1
Lower
Construction Spending
-0.2%
0.3%
0.9%
Legend:Yellow highlight = Higher Interest Rates.
Green Highlight = Lower Interest Rates.


Property Taxes by State (2024).
(WalletHub by John S Kiernan, WalletHub Managing Editor). Depending on where you live, property taxes can be a small inconvenience or a major burden. The average American household spends $2,869 on property taxes for their homes each year, according to the U.S. Census Bureau, and residents of the 26 states with vehicle property taxes shell out another $448.

Property taxes might appear to be a non-issue for the 35% of people who rent their homes, but that couldn't be further from the truth. We all pay property taxes, whether directly or indirectly, as they impact the rent we pay as well as the finances of state and local governments.

Cassandra Happe, a WALLETHUB analyst, said, "Some states charge no property taxes at all, while others charge an arm and a leg. Americans who are considering moving and want to maximize the amount of money they take home should take into account property tax rates, in addition to other financial factors like the overall cost of living, when deciding on a city."

Which states have the largest property tax load?
(from 1 = Lowest to 51 = highest)
State | Effective Real-Estate Tax Rate
1    Hawaii    0.27%   
2    Alabama    0.39%  
3    Colorado    0.49%   
4    Nevada    0.50%   
5    South Carolina  0.53%
6    Louisiana    0.55% 
6    Delaware    0.55% 
6    Utah    0.55% 
6    West Virginia  
10    District of Columbia  0.56%  
10    Arizona    0.56%
10    Idaho    0.56%
13    Wyoming    0.58%
13    Tennessee    0.58%
15    Arkansas    0.59%
16    California    0.71%
17    North Carolina    0.73%
18    New Mexico    0.74%
19    Mississippi    0.76%
19    Virginia    0.76% 
21    Indiana    0.77%  
22    Montana    0.79% 
23    Kentucky    0.80%
24    Florida    0.82%  
25    Georgia    0.83%  
26    Oklahoma    0.85%  
27    Oregon    0.86%  
28    Washington    0.88%
29    Missouri    0.91%  
30    North Dakota    0.99%
31    Maryland    1.02%
32    Minnesota    1.05% 
33    South Dakota    1.14% 
34    Massachusetts    1.15%  
35    Alaska    1.16% 
36    Maine    1.17%  
37    Kansas    1.34% 
38    Michigan    1.35%  
39    Rhode Island    1.39%
40    Pennsylvania    1.41%
41    Ohio    1.43%
42    Iowa    1.49%  
43    Nebraska    1.54% 
44    Wisconsin    1.59%
45    Texas    1.63%
46    New York    1.64%
47    Vermont    1.78% 
48    New Hampshire    1.89%
49    Connecticut    2.00% 
50    Illinois    2.11% 
51    New Jersey    2.33%

Direct's Comment:
The tax percentage doesn't tell the entire story. when you compare the actual amount of taxes paid, for example (because of higher property values), then California and Utah are some of the worst - not best. But it is important to note that renters pay property taxes as well - but they pay it through higher rents.

Do I think that property taxes are too high? Well, yes I do. Why? I saw my local school district determine to split into two school districts and build or rebuild almost every single school in their district during the past 5 years. Was that needed? Nope. So why? Because their was a windfall in the amount of property taxes collected (because of higher property values), and if they didn't spend it the property taxes would have been reduced significantly. Sigh... More government waste, and less honorable politicians at every level. We need more politicians being more true to their consciences - that is what we need. Not higher property taxes!


Worthy Of The Temple.
(Doctrine and Covenants 138:47-48). The Prophet Elijah was to plant in the hearts of the children the promises made to their fathers, foreshadowing the great work to be done in the temples of the Lord in the dispensation of the fulness of times, for the redemption of the dead, and the sealing of the children to their parents, lest the whole earth be smitten with a curse and utterly wasted at his coming.

Comment:
Families are to be sealed together for all eternity. A welding link is to be forged between the fathers and the children. In our time, a whole, complete, and perfect union of all dispensations, keys, and powers are to be welded together. For these sacred purposes, holy temples now dot the earth. I emphasize again that construction of these temples may not change your life, but your service in the temple surely will.

The time is coming when those who do not obey the Lord will be separated from those who do. Our safest insurance is to continue to be worthy of admission to His holy house. The greatest gift you could give to the Lord is to keep yourself unspotted from the world, worthy to attend His holy house. His gift to you will be the peace and security of knowing that you are worthy to meet Him, whenever that time comes.
(Daily Joy, Russell M. Nelson, p. 67).


Make it a great day! Let's get after it.

James Beech
CEO
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