BALTIMORE (AP) — A federal grand jury on Thursday indicted Baltimore’s top prosecutor for perjury and making false mortgage applications in the purchase of two vacation homes in Florida, the U.S. District Attorney’s Office said. Maryland.

The four-count indictment alleges Baltimore State’s Attorney Marilyn Mosby lied about meeting qualifications for coronavirus-related distributions from a city’s retirement plan in 2020. Federal prosecutors also allege Mosby lied on 2020 mortgage application forms to buy a home in Kissimmee, Florida. , and a condominium in Long Boat Key, Florida.

Mosby, 41, is a top prosecutor who has aligned herself with criminal justice reformers. She rose to national prominence in 2015 when she pursued criminal charges against six police officers in the death of Freddie Gray, a black man whose death in police custody sparked riots and protests. None of the officers have been convicted.

The indictment of Mosby, who is married to Baltimore City Council Speaker Nick Mosby, comes months after media reports that federal officials had subpoenaed the Maryland State Board of Elections for business and funding records. campaign related to the couple dating back to 2014. An attorney representing the couple alleged misconduct by federal prosecutors in a letter to the U.S. Department of Justice’s Office of Professional Responsibility and requested a stay of the criminal investigation into the couple . Nick Mosby has not been charged with any crime.

“We will vigorously fight these charges, and I remain confident that once all the evidence is presented, it will prevail against these bogus charges — charges rooted in personal, political and racial animosity five months from his election,” A. Scott Bolden, Mosby’s attorney, in a statement late Thursday.

In 2020, Mosby submitted requests for one-time withdrawals of $40,000 and $50,000, respectively, from Baltimore’s deferred compensation plans, according to the indictment. It alleges that Mosby falsely certified that she experienced financial hardship due to the coronavirus, but in fact received her nearly $250,000 salary in 2020. The indictment also alleges that in 2020 and 2021 , Mosby made false statements in mortgage applications for $490,500 to buy a house in Kissimmee, Florida, and for a mortgage of $428,400 to buy a condominium in Long Boat Key, Florida .

Mosby was required to disclose her debts, but did not disclose that she had unpaid federal taxes from a number of previous years and that in March 2020 the Internal Revenue Service placed a lien on all property and property rights belonging to the Mosbys in the amount of $45,022, the amount of unpaid taxes that Mosby and her husband owed to the IRS at that time.

About a week before closing the Kissimmee home, Mosby signed an agreement with a vacation home management company giving the company rental control of the property, according to the indictment. She then signed a “second home covenant” which provided that the borrower occupied and used the property as a second home and retained sole ownership control of the property, according to the indictment, alleging that by performing falsely endorsement, Mosby might get a lower interest rate.

Mosby’s initial appearance has not yet been scheduled, according to a press release from the U.S. Attorney’s Office.

The two perjury counts each carry a maximum sentence of five years in prison and the two mortgage-related counts each carry a maximum of 30 years in prison.

———

The spelling of the name of A. Scott Bolden, Marilyn Mosby’s lawyer, has been corrected.

Copyright 2022 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed without permission.

ADDISON, Texas, Jan. 12, 2022 (SEND2PRESS NEWSWIRE) — Mid America Mortgage, Inc. (Mid America) announced that industry veteran Jarred Talmadge has joined Mid America as Director of Reverse Mortgage Sales of the ‘Where is. In this role, Talmadge is responsible for expanding Mid America’s reverse mortgage presence in the western United States.

“Mid America is dedicated to meeting the diverse needs of every borrower, including existing homeowners looking to tap into their home’s equity in retirement,” said Jeff Bode, owner and CEO of Mid America. “Reverse mortgage borrowers are often underserved, even though seniors make up a large share of the homeownership market. We are extremely happy to announce that Jarred has joined our team and excited to expand our team of reverse mortgage experts.

Talmage brings over 25 years of experience in the mortgage industry and has spent the last three years focusing specifically on reverse mortgages. Talmage joins Mid America from the American Advisors Group, where he was director of market sales for the Rockies region. In addition to being an industry veteran, Talmage is an author and instructor, providing courses in sales, marketing and reverse mortgages for realtors, loan officers and financial planners.

In 2020 Talmadge wrote the book “Too Good To Be Free: How a Reverse Mortgage Can Improve Your Life, Your Cash Flow and Pay You Too”. It can be found on Amazon.com. He has also been a guest on 9News NBC in Denver, Colorado and Company, KLZ AM 560 and on the Michael Bailey Radio Show. Talmadge received his Masters in Business Administration from the University of Phoenix.

“As a Reverse Mortgage Specialist, I’m passionate about helping lenders, borrowers and realtors understand the often misunderstood product that is Reverse Mortgage,” said Talmadge. “The best part of the mortgage business is being able to help other people, to have that capability extended to Mid America is exhilarating.”

To learn more about joining the Mid America Reverse Mortgage team, contact Talmadge at [email protected]

About Mid America Mortgage, Inc.

Mid America Mortgage, Inc., Addison, Texas, is a full-service, multi-state mortgage lender that serves consumers and mortgage originators through its retail, wholesale and correspondent channels. We offer a wide range of residential real estate loan programs to meet the needs of most home buyers and homeowners and are also the nation’s leading provider of Section 184 home loans for Native Americans. Learn more at https://www.midamericamortgage.com/.

In business since 1940, Mid America has thrived by maintaining its entrepreneurial spirit and leading the market in innovation, including its adoption of eNotes eClosings. Click n’ Close is Mid America’s ultra-secure digital mortgage approval and closing process that allows homebuyers to go from application to closing in two weeks. With just a few clicks to close, Click n’ Close puts the keys in the buyer’s hand in 15 minutes or less. Apply online at https://www.midamericamortgage.com/click-n-close/#cnc.

Frequently named one of the Top Mortgage Employers/Places to Work by industry trade magazines such as Mortgage Professional America, MReport, National Mortgage News and National Mortgage Professional, Mid America is looking for savvy mortgage professionals. technology and service-oriented to join our growing team. We are committed to providing our employees with state-of-the-art tools and technology to deliver an excellent set of competitive pricing, programs, and knowledgeable services. Want to join our team? Visit https://www.midamericamortgage.com/careers/.

Twitter: @midamericamtge

NEWS SOURCE: Mid America Mortgage, Inc.

This press release has been issued on behalf of the source of the information (Mid America Mortgage, Inc.) which is solely responsible for its accuracy, by Send2Press® Newswire. The information is believed to be accurate but not guaranteed. Story ID: 78137 APDF-R8.2

© 2022 Send2Press®, a press release and electronic marketing service of NEOTROPE®, California, USA.

To view the original version, visit: https://www.send2press.com/wire/mid-america-mortgage-welcomes-jarred-talmadge-to-its-team-of-reverse-mortgage-experts/

Disclaimer: The content of this press release was not created by The Associated Press (AP).

Copyright 2022 Send2Press Newswire

Even though it’s a cold winter, the Yakima real estate market remains warm with more homes now available in the local market.

More homes are now on the market and the list is growing

According to Cory Bemis, owner of Yakima’s John L. Scott Real Estate, this is the biggest news in the business. He says the number of homes currently for sale rose to 406 in December 2021. This is 71% more than the 237 homes that were actively for sale a year ago in December 2020. Bemis says “look for that number. continues to rise slowly through 2022 as higher interest rates help reduce buyer demand. ”If you were looking for a home last year, the median home selling price in 2021 was $ 323,000. This is a 17% increase over last year when the price was $ 276,000. Home sales increased 16% in 2021 with a total of 2,265 homes sold.

Even though it was December, many people still moved into new homes

As for the month of December. 191 homes sold last month. This is a decrease of 2.6% from the 196 homes sold in December 2020.
According to MortgageNewsDaily.com, 30-year fixed rate mortgages have an average interest rate of 3.5% right now. This is 0.64% more than a year ago.

The past two years have seen gains across the board in the local real estate market and there is no sign of the market slowing down for anything including COVID-19.

WATCH: Famous historic homes in every state

See inside: the luxurious $ 3.5 million rural Aaron Lewis castle

Stocks slumped and bond yields rose on Wednesday as Wall Street interpreted the minutes of the recent Federal Reserve policymakers meeting as a sign that the central bank is ready to accelerate interest rate hikes this year as it fights inflation.

The S&P 500 fell 1.9%, its biggest drop since September, as tech companies pushed the market down sharply. The tech-heavy Nasdaq composite fell 3.3%, its worst drop since February. The Dow Jones Industrial Average fell 1.1%, retreating from the record it set a day earlier.

Bond yields rose after the release of the Fed meeting minutes. The yield on the 10-year Treasury bill, a benchmark for pricing mortgages and many other types of loans, rose to 1.70% soon after the minutes were released, from 1.68% just before. . It has not been at 1.70% since April.

The Fed minutes showed that policymakers at their meeting last month expressed concerns that inflation, which has peaked in four decades, is spreading to more areas of the world. economy and lasts longer than expected. Fed officials also concluded that the US labor market was nearing sufficiently healthy levels that the Fed’s low interest rate policies were no longer necessary.

For both of these reasons, Fed Chairman Jerome Powell said after the December 14-15 meeting that the central bank was accelerating the reduction of its ultra-low interest rate policies.

Even so, Wall Street appeared to read the minutes as a sign that the central bank may be more aggressive in reversing the economic stimulus policies it put in place after the pandemic, which could mean a longer path. fast towards higher interest rates.

“We believe the Fed is likely to raise interest rates faster and potentially reduce its balance sheet sooner than expected, as it signals that it is more important to fight inflation than to hedge against a decline in economic activity, ”said Chris Zaccarelli, Investment Director of Independent Advisor. Alliance.

The S&P 500 lost 92.96 points to 4,700.58. The Dow Jones lost 392.54 points to 36,407.11. The Nasdaq lost 522.54 points to 15,100.17.

Small business stocks also posted significant losses. The Russell 2000 lost 74.87 points, or 3.3%, to 2,194.

Fed minutes show policymakers discussed how they may need to raise short-term interest rates at a faster rate and allow their bond purchases to proceed sooner than they do. have done so in previous attempts to bring interest rates back to normal.

“They noted that current conditions included a stronger economic outlook, higher inflation and a larger balance sheet and could therefore justify a potentially faster pace of policy rate normalization,” the minutes said.

The message seemed to catch bond investors, in particular, off guard.

“The Fed has spoken, but the bond market has not listened,” said Willie Delwiche, investment strategist at All Star Charts. “That started to change this week, and today’s minutes echo what the bond market is starting to reflect this week, and (stocks) are taking note.”

About 80% of the stocks in the benchmark S&P 500 fell. The main drag on the index was tech companies, which led gains on Monday and then pulled the broader market lower on Tuesday. Microsoft fell 3.8% and software maker Adobe lost 7.1%.

A mix of retailers and other businesses that rely on consumer spending has also lost ground. Tesla slipped 5.4% and Amazon fell 1.9%.

AT&T rose 2.2% after giving investors an encouraging update on growth in subscriber numbers.

European markets closed largely higher and Asian markets largely lower overnight.

Investors face a busy first week of the New Year with a wide array of economic data. The latest reports on different sectors of the economy and the labor market come out as Wall Street continues to assess the potential economic impact of rising inflation and the latest wave of COVID-19 cases.

The Institute for Supply Management will release its service sector index for December on Thursday, giving Wall Street a better idea of ​​how the larger sector of the economy is handling the latest wave of variant COVID-19 cases. highly contagious from omicron.

The Ministry of Labor will publish its monthly employment report for December on Friday.

Copyright 2022 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed without permission.

Stocks slumped and bond yields rose on Wednesday as Wall Street interpreted the minutes of the recent Federal Reserve policymakers meeting as a sign that the central bank is ready to accelerate interest rate hikes this year as it fights inflation.

The S&P 500 fell 1.9%, its biggest drop since September, as tech companies pushed the market down sharply. The tech-heavy Nasdaq composite fell 3.3%, its worst decline since February. The Dow Jones Industrial Average fell 1.1%, retreating from the record it set a day earlier.

Bond yields rose after the release of the Fed meeting minutes. The yield on the 10-year Treasury bill, a benchmark for setting rates on mortgages and many other types of loans, rose to 1.70% shortly after the minutes were released, from 1.68 % just before. It has not been at 1.70% since April.

The Fed minutes showed that policymakers at their meeting last month expressed concerns that inflation, which has peaked in four decades, is spreading to more areas of the world. economy and would last longer than expected. Fed officials also concluded that the US labor market is nearing sufficiently healthy levels that the Fed’s low interest rate policies are no longer necessary.

For both of these reasons, Fed Chairman Jerome Powell said after the December 14-15 meeting that the central bank was accelerating the reduction of its ultra-low interest rate policies.

Even so, Wall Street appeared to read the minutes as a sign that the central bank may be more aggressive in reversing the economic stimulus policies it put in place after the pandemic, which could mean a longer path. fast towards higher interest rates.

“We believe the Fed is likely to raise interest rates faster and potentially reduce its balance sheet sooner than expected, as it signals that it is more important to fight inflation than to hedge against a decline in economic activity, ”said Chris Zaccarelli, Investment Director of Independent Advisor. Alliance.

The S&P 500 lost 92.96 points to 4,700.58. The Dow Jones lost 392.54 points to 36,407.11. The Nasdaq lost 522.54 points to 15,100.17.

Small business stocks also posted significant losses. The Russell 2000 lost 74.87 points, or 3.3%, to 2,194.

Fed minutes show policymakers discussed how they may need to raise short-term interest rates at a faster rate and allow their bond purchases to proceed sooner than they do. have done so in previous attempts to bring interest rates back to normal.

“They noted that current conditions included a stronger economic outlook, higher inflation and a larger balance sheet and could therefore justify a potentially faster pace of policy rate normalization,” the minutes said.

The message seemed to catch bond investors, in particular, off guard.

“The Fed has spoken, but the bond market has not listened,” said Willie Delwiche, investment strategist at All Star Charts. “That started to change this week, and today’s minutes echo what the bond market is starting to reflect this week, and (stocks) are taking note.”

About 80% of the stocks in the benchmark S&P 500 fell. The main drag on the index was tech companies, which led gains on Monday and then pulled the broad market on Tuesday. Microsoft fell 3.8% and software maker Adobe lost 7.1%.

A mix of retailers and other businesses that rely on consumer spending has also lost ground. Tesla slipped 5.4% and Amazon fell 1.9%.

AT&T rose 2.2% after giving investors an encouraging update on growth in subscriber numbers.

European markets closed largely higher and Asian markets largely lower overnight.

Investors face a busy first week of the New Year with a wide array of economic data. The latest most recent reports on different sectors of the economy and the labor market come as Wall Street continues to assess the potential economic impact of rising inflation and the latest wave of COVID cases. 19.

The Institute for Supply Management will release its service sector index for December on Thursday, giving Wall Street a better idea of ​​how the larger sector of the economy is handling the latest wave of variant COVID-19 cases. highly contagious from omicron.

The Ministry of Labor will publish its monthly employment report for December on Friday.

Copyright 2022 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed without permission.

On Monday’s KGVO Talk Back, former UM law professor and Constitutional Fellow at the Independence Institute, Rob Natelson, gave some advice to those on the left absorbed by January 6.^e riot in Washington, DC; ‘move on’.

“Let me suggest something to my friends on the left about January 6, it was a riot,” Natelson began. “It was serious, but forget about it, okay?” It was not at all as bad as the riots that unfolded throughout the summer of 2020, which killed around two dozen people and resulted in billions and billions of dollars in property damage and which also destroyed city centers across the country. They were much more serious.

Natelson also touched on the three main vaccine mandates offered by the Biden administration in an attempt to turn the problem into a weapon.

“The Health Care Workers Ordinance says the federal government will not give money to a health care provider who does not vaccinate all of their staff,” he said. “With this, they are extending a statute of Congress for the payment of this money and, and the control of the quality of the health services in a mandate of immunization.”

Natelson said federal courts have so far failed to welcome Biden’s warrants.

“The fate of these three terms in federal courts has not been very good,” he said. “The administration has not lost them all, but it has lost most and lost most of them on the grounds that the laws it uses to justify these mandates were never intended to be extended to general laws. public health statutes, and that if Congress had wanted them to be general public health statutes, Congress would have said so, “he said.” But several other courts have also expressed constitutional concerns that it’s really not something that affects public health issues, like immunization issues, is really not something that is left to the federal government. “

Finally, on the issue of recent oral arguments in the United States Supreme Court that could potentially overturn Roe v Wade, in which UM law professor Anthony Johnstone told the KGVO that the Montana Constitution would still allow the law from a woman to an abortion, Natelson vehemently disagreed.

“I don’t agree with that at all,” he said. “I strongly disagree with that. Now it’s unclear what the Montana Supreme Court will do. I mean, it’s a very unpredictable tribunal. But if you go back to Montana’s legislative history, in the right privacy, there is no evidence that it has anything to do with abortion. First, it was enacted a year before Roe vs. Wade invented the right to abortion into federal privacy law. Second, by the time Montana’s privacy law was enacted, Montana probably had one of the toughest pro-life laws in the country. This was not to suggest that the right to privacy was going to change. I have gone through the ratifications file and people are free to consult a database that I have collected for this purpose. There is no indication that Montana’s right to privacy was presented to people in a way that would compromise what was then Montana’s strong pro-life standard. So the evidence for me is compelling that Montana’s right to privacy does not in fact include any claimed right to abortion.

Read articles by Natelson of the Independence Institute here. Her weekly articles in The Epoch Times can be found here.

PHOTOS: Scene at the U.S. Capitol shows chaos and violence

Ask the fool

Why is my stock going down?

Q: A stock I bought has gone down and I don’t see any explanation in the news. What’s up?

– TG, Billings, Montana

A: Individual stocks, like the stock market as a whole, do not move in a straight line. Over long periods of time, the stock market has always risen, but via a jagged line. Individual stocks will also be volatile to some extent, although stocks of successful companies rise in the long run and those of less successful companies either fall or fall.

Stock prices will rise or fall overnight due to company news (big profits!), Economic news (a pandemic!), Or some other reason, or sometimes no reason for the all. Stock prices basically reflect what investors are willing to buy and sell at that time – and investor sentiment can change quickly.

Long-term investors don’t have to worry about short-term moves. Focus on your confidence in a company’s prospects and the real value of its actions. The prices that matter most are the price at which you bought and the price at which you ultimately sell.

Q: How much will health care cost when I retire?

– PL, Lawrence, Kansas

A: The estimate increases every year. According to Fidelity Investments, an average 65-year-old couple retiring in 2021 will spend around $ 300,000 on health care in retirement, excluding costs such as long-term care, most dental expenses, and drugs. on sale. Of course, many of us can end up spending a lot more or a lot less. Either way, this shocking number is a good reminder to plan for the heavy costs of health care in retirement. From the age of 65, Medicare is a big help, but even with it you will probably still have some personal expenses.

School of fools

Rising interest rate?

The Federal Reserve Bank, which is a key driver of interest rates, has signaled that rates may rise soon, in part to fight inflation. Here’s how higher rates could affect you, positively or negatively.

For starters, higher rates mean you’ll pay more when you borrow money, like on a mortgage or car loan. Credit card interest rates will also rise – and they are already quite high, with average card rates recently approaching 16% and many cards charging a lot more. Paying off debt always makes good sense, and that’s especially important now.

Note that even if mortgage interest rates double from where they are now – around 2% to 3% is typical – they will be far from historically high levels. Still, rising rates will mean higher mortgage payments for home buyers, and they could also force buyers to settle for cheaper homes. Borrowers with variable rate mortgages (ARMs) are likely to see their rates increase over time. Some homeowners may want to consider refinancing their home loans now, in order to lock in the current low rates.

Rising rates also mean that those who save money will benefit from more generous interest rates on their various bank accounts, certificates of deposit (CDs), money market accounts and bonds. The prices of existing bonds will likely take a hit because bond buyers will prefer to buy new bonds that carry higher interest rates.

Rising interest rates can dampen stock market performance, in part because alternatives to stocks, such as bonds, will look more attractive as rates rise. In addition, companies that borrow money by issuing bonds will have to pay more interest on these loans. (We’ve been through a very long time with ultra low interest rates, and the stock market has performed very well for much of that time.)

When borrowing costs rise, it can slow overall economic growth, as businesses (and consumers) can spend less, which depresses corporate profits. However, certain types of businesses, such as financial companies, will benefit from rising interest rates.

My dumbest investment

Sour apple

My dumbest investment was to buy 5,000 Apple shares at $ 23 a share and sell them at $ 26.

– G., online

The madman replies: Ouch – it’s a painful regret. We don’t know when your buying and selling occurred, but due to the stock splits that have taken place, if you had held on you would have a lot more stocks – each recently priced at almost $ 176.

If your trading took place before the August 2020 4-for-1 split, you would have 20,000 shares, recently valued at $ 3.5 million. If this happened before the 7-to-1 split in June 2014, you would have seven times 20,000, or 140,000 shares, with a recent value of almost $ 25 million. And if that happened before 2-for-1 split in June 2000 and 2-for-1 split in February 2005, you would have 560,000 shares worth almost $ 99 million.

While that might seem like a very stupid investment now, let go: no one could have known, at various points in the past, how incredibly well Apple would do. Still, it’s a prime example of the power of just hanging on to the stocks of companies you believe in that continue to grow and perform well. Also, keep in mind that stock splits aren’t as exciting as they seem, because even though they can suddenly multiply the number of stocks you own, stock prices are reduced proportionately. The splits are mainly math exercises.

Stupid anecdotes

Name this company

My roots go back to 1940, when two brothers opened a barbecue restaurant in California. In 1948, they switched to selling 15-cent burgers and made their restaurant more efficient with their “Speedee Service System”. In 1954, a visiting salesman was impressed. In 1961, he bought the rights to their name and operating system. Today, based in Chicago, I am a quick service powerhouse, with nearly 40,000 locations worldwide and a recent market value of nearly $ 200 billion. At the end of 2020, I employed around 200,000 people and over 2 million people were working for my franchises. Who am I?

Answer to questions from last week

My roots go back to 1869, when two fellows started a canning business in Camden, New Jersey. In 1895, I launched my first pot of ready-to-eat soup, Beefsteak Tomato. In 1897, I invented condensed soup, which allowed for more compact packaging and made soup more affordable. I won a bronze medal for excellence at the Universal Exhibition in Paris in 1900, and it remains on my cans today. My brands include Cape Cod, Goldfish, Kettle Brand, Lance, Milano, Pace, Pacific Foods, Pepperidge Farm, Prego, Snyder’s of Hanover, Swanson and V8. I now raise over $ 8 billion a year. Who am I? (Answer: Campbell Soup Co.)

The motley fool

Biotechnology packages

Do you want to invest in an exciting and growing sector? Think about biotechnology, where groups of companies (such as Amgen, Moderna and Gilead Sciences) are developing innovative therapies, some of which will be game-changing.

There are big drawbacks to investing in biotech stocks, however: many are very risky, stocks can be quite volatile, and it’s difficult to assess them if you don’t have a higher science degree. Fortunately, you can reduce the level of risk and volatility by investing in exchange-traded funds (ETFs) focused on the biotech industry.

ETFs are similar to mutual funds in that they can hold many stocks (and sometimes other assets), but like stocks, they trade on public exchanges. Like mutual funds, ETFs charge a fee (often called expense ratios) to cover their operating costs.

Here are some strong biotech-focused ETFs to consider: iShares Biotechnology ETF (IBB), SPDR S&P Biotech ETF (XBI), ARK Genomic Revolution ETF (ARKG), First Trust NYSE Arca Biotechnology Index Fund (FBT) and the VanEck Biotech FNB (BBH).

You can (and should) research all the ETFs that interest you, learn more about their fees, portfolios, and track record, among others. Morningstar.com and ETFTrends.com are good places to start, as is each ETF’s own web page. You can find out more about ETFs (and mutual funds) in the “Investing Basics” corner on Fool.com.

Robert Seibel // Shutterstock

10 stats about the Idaho real estate market

The economics of real estate is both simple and complex. As with any other product, supply and demand drive costs in the housing market, and right now house costs are at an all time high – an 18% increase since September 2020. But the factors creating the Record stocks and an increase in interest purchases are varied and complicated.

To illustrate how asymmetric the market is, we can look at the months of supply measurement. This metric tells us how many months it would take for all homes on the market to sell at the current rate. In a balanced real estate market, that number is six. Since 2019, the average number of months of supply has fallen from around four to less than two. The number of single-family homes for sale in the United States at the start of 2021 was only 870,000, the lowest in about 40 years, according to a 2021 study from Harvard University.

Investment firms have found themselves on the positive side of the pandemic housing crisis, accounting for one in six homes and 25% of all apartments purchased in the second quarter of 2021. Investors have been able to take advantage of low interest rates . and the demand for rentals, especially among those with off-market prices.

Although the pandemic has played an important role in stimulating demand for housing, it is only partially responsible for the shortage of supply. This problem – which is actually an underproduction problem – began two decades before the world ever heard of COVID-19.

According to the National Association of Realtors (NAR), the United States built 276,000 fewer homes per year, on average, between 2001 and 2020, compared to the previous 30 years. If the rate of production had not slowed down over the past 20 years, there would have been 5.5 million additional households. The NAR estimates that the United States would need to build more than 2 million new units per year over the next decade to close the gap. Under the best of circumstances, this rate would be difficult to achieve. In the current circumstances, where supply chain disruptions affect 88% of construction projects and almost 90% of construction companies cannot find enough skilled craftsmen to meet demand, this seems like a task. of Sisyphus.

The real estate market is nuanced from state to state, and while many national trends hold true at a more localized level, it’s important to understand the context of your individual state.

To analyze each state’s real estate market, the ZeroDown Purchase Option rental platform compiled current and historical data from the US Census Bureau and the Department of Housing and Urban Development. The data will cover homeownership rates, vacant homes, foreclosures, mortgages, new home construction and manufacturing, as well as housing characteristics such as median age, square footage and number. of parts for houses in your state.

Idaho in numbers

– Home ownership rate: 71.4%
– Owner vacancy rate: 1.0%
– Rental vacancy rate: 3.4%
– Occupied dwellings: 655,859
– Owner-occupied housing: 469,387, tenant-occupied housing: 186,472
– Year of construction of houses: 2014 or later (8.0%), 2010 to 2013 (3.3%), 2000 to 2009 (19.8%), 1980 to 1999 (27.8%), 1960 to 1979 (23.3%), 1940 to 1959 (9.4%, 1939 or before (8.4%)
– Number of bedrooms: no bedroom (1.5%), 1 bedroom (5.7%), 2 or 3 bedrooms (62.9%), 4 or more bedrooms (29.9%)
– Type of heating used: utility gas (50.9%), cylinder, tank or LPG (5.2%), electricity (34.4%), fuel oil, kerosene, etc. (1.5%), coal or coke (0.0%), all other fuels (7.6%), no fuel used (0.3%)
– New building permits: 19,130 ​​(value of $ 3,948,590)
– Prefabricated homes shipped as is: 376 (average selling price: $ 108,900)

The COVID-19 pandemic has created a world where some people have found the financial flexibility to buy a home and the incentive to do so quickly. Remote working, closings and record mortgage rates have caused people – especially those under 35 – who might have delayed buying a home to suddenly seek more space for themselves. , their families, and a yard for their pandemic puppies in cheaper neighborhoods far from employment hubs and major subways.

For others, the pandemic has created a new reality of financial insecurity, overdue mortgage or rent payments, risk of eviction and prices outside previously affordable neighborhoods. Almost a quarter of households earning less than $ 25,000 a year were behind on mortgage payments at the start of 2021. During the same period, a fifth of all renters in the United States were behind on their payments. monthly. In these aggregate numbers, the burden of economic fallout from the pandemic is disproportionately on low-income and minority families.

Read on to find out how the real estate market is doing for neighbors in your state.

Montana in numbers

– Home ownership rate: 67.8%
– Owner vacancy rate: 1.1%
– Rental vacancy rate: 3.8%
– Occupied dwellings: 437,651
– Owner-occupied housing: 301,456, tenant-occupied housing: 136,195
– Year of construction of houses: 2014 or later (5.5%), 2010 to 2013 (3.5%), 2000 to 2009 (14.7%), 1980 to 1999 (24.9%), 1960 to 1979 (26.2%), 1940 to 1959 (12.6%), 1939 or before (12.7%)
– Number of bedrooms: no bedroom (1.9%), 1 bedroom (8.7%), 2 or 3 bedrooms (64.5%), 4 or more bedrooms (24.9%)
– Type of heating used: utility gas (51.5%), cylinder, tank or LPG (13.5%), electricity (26.2%), fuel oil, kerosene, etc. (0.9%), coal or coke (0.1%), all other fuels (7.6%), no fuel used (0.2%)
– New building permits: 5,980 (value of $ 1,051,886)
– Prefabricated homes shipped as is: 254 (average selling price: $ 108,400)

Nevada in numbers

– Home ownership rate: 61.7%
– Owner vacancy rate: 0.6%
– Rental vacancy rate: 4.8%
– Occupied dwellings: 1,143,557
– Owner-occupied housing: 647,518, tenant-occupied housing: 496,039
– Year of construction of houses: 2014 or later (5.9%), 2010 to 2013 (3.5%), 2000 to 2009 (25.5%), 1980 to 1999 (41.2%), 1960 to 1979 (18.8%), 1940 to 1959 (4.0%), 1939 or before (1.0%)
– Number of bedrooms: no bedroom (2.7%), 1 bedroom (9.2%), 2 or 3 bedrooms (64.1%), 4 or more bedrooms (24.0%)
– Type of heating used: utility gas (58.1%), bottle, tank or LPG (2.6%), electricity (36.1%), fuel oil, kerosene, etc. (0.5%), coal or coke (0.0%), all other fuels (2.1%), no fuel used (0.5%)
– New building permits: 19,716 (value of $ 4,057,456)
– Prefabricated homes shipped to the Crown: 391 (average selling price: $ 104,200)

* The minimum credit score and down payment are for compliant mortgages

Overall rating of the lender

Advantages and disadvantages

Mortgage rates movement

Movement Mortgage does not post mortgage or refinance rates on its website. Some lenders display sample rates online, and others even allow you to enter information such as your zip code and credit score to see more personalized rates.

You can click on “Free quote” to enter your personal information and see a price. But you’ll need to enter things like your full name and contact details, which many lenders don’t need to see a more personalized rate.

On the bright side, clients report in Zillow’s online reviews that their mortgage rate with Movement was “as expected” or “below expectations.” So, you could get a competitive rate of interest with this lender.

How the motion mortgage compares

We compared Movement Mortgage to two other online lenders available in all 50 states: Rocket Mortgage and Fairway Independent Mortgage Corporation.

The movement mortgage against the rocket mortgage

The motion mortgage is the obvious choice for a USDA mortgage, construction, renovation, condominium, or reverse mortgage because Rocket Mortgage does not offer these types of home loans. You may also be able to show alternative credit data, such as proof that you are paying your bills on time, to Movement if you don’t have a credit score. Rocket Mortgage requires a credit score.

You may like Rocket Mortgage for its user-friendly online application process, including a live chat feature available seven days a week. Rocket Mortgage has been ranked as JD Power’s # 1 Customer Satisfaction Lender for 11 years in a row, and he ranked # 2 in 2021.

Movement Mortgage vs Fairway Independent Mortgage Corporation

The moving mortgage sometimes allows you to apply for alternative credit if you don’t have a credit score. But Fairway Independent Mortgage Corporation tends to be a bit more lenient with this rule, and you might be eligible for alternative credit even if you just have bad credit. Each situation is different, however.

Fairway Independent also gives you the option to close digitally rather than in person.

How the motion mortgage works

Movement Mortgage is a lender that offers mortgages in all 50 US states. Its goal is to get underwriting results within six hours of receiving your request, process your home loan in seven days, and close the house in one day.

Movement Mortgage offers the following types of mortgage loans:

The movement does not have home equity loans or HELOCs.

You can choose between regular rate and term refinancing or cash flow refinancing, or streamline refinancing your VA or FHA mortgage. However, there is no way to refinance your USDA mortgage to another USDA mortgage with Movement.

Some lenders allow you to apply with alternative data, such as proof that you are paying your bills on time, whether your credit score is low or zero. The move requires a credit score if you have one. It sometimes accepts alternate data if you don’t have a credit score, but that’s on a case-by-case basis.

To contact the Loan Service, call Monday through Friday 8:30 a.m. to 8 p.m. ET, or Saturday 9 a.m. to 3 p.m. ET.

Is The Motion Mortgage Trustable?

The Motion Mortgage has no public controversy.

The Better Business Bureau gives Movement Mortgage an A + rating. A high BBB rating indicates that a business responds effectively to customer complaints, is transparent about business practices, and advertises honestly.

However, a good BBB score does not guarantee that you will have a smooth relationship with a lender. You can always read customer reviews online or ask friends and family about their experiences with Movement Mortgage.

Mortgage rates by state

Check out the latest rates for your state at the links below.

Alabama
Alaska
Arizona
Arkansas
California
Colorado
Connecticut
Delaware
Florida
Georgia
Hawaii
Idaho
Illinois
Indiana
Iowa
Kansas
Kentucky
Louisiana
Maine
Maryland
Massachusetts
Michigan
Minnesota
Mississippi
Missouri
Montana
Nebraska
Nevada
New Hampshire
New Jersey
New Mexico
New York
North Carolina
North Dakota
Ohio
Oklahoma
Oregon
Pennsylvania
Rhode Island
Caroline from the south
South Dakota
Tennessee
Utah
Vermont
Virginia
Washington
Washington DC
West Virginia
Wisconsin
Wyoming

The minimum credit score and down payment are for compliant mortgages.

Overall rating of the lender

Advantages and disadvantages

Pentagon Federal Credit Union Mortgage Rates

Pentagon Federal Credit Union does not have general mortgage rate information on its website. Other lenders can provide mortgage rate examples so you can better understand what the current market looks like.

If you would like to see a personalized rate for a mortgage, PenFed asks you to fill out a form.

How To Compare Pentagon Federal Credit Union Mortgages

We compared the Pentagon Federal Credit Union to two other

credit unions

who provide mortgage products: Navy Federal Credit Union and Alliant Credit Union.

Pentagon Federal Credit Union v Navy Federal Credit Union

PenFed and Navy Federal Credit Union are both solid options if you want a lender that emphasizes services and products for military or families.

You may prefer Navy Federal Credit Union if your credit score is low or low. You can provide alternative credit data, such as utility bills, when you apply for a home loan. At PenFed, you will need to show your credit score if you apply.

If you have a decent credit score, PenFed offers a lender credit of $ 500 to $ 2,500 to all members, depending on how much you borrow.

Pentagon Federal Credit Union vs Alliant Credit Union

PenFed is the go-to product if you want to apply for or refinance a VA loan. Alliant Credit Union does not process VA loans. You may also be eligible for lender credit of up to $ 2,500 when you apply for a VA mortgage through PenFed.

You may like Alliant Credit Union if the Alliant Home Rewards program sounds appealing to you. With Alliant Home Rewards, you can earn up to $ 6,500 in cash back. You will be matched with a real estate agent who will help you find a home, and after the closing process you will be eligible for the reward. The amount will depend on the purchase price of the house. There are limits on the value of rewards in some states, and you cannot get a reward if you buy a home in Arkansas, Iowa, Louisiana, or Missouri.

How Pentagon Federal Credit Union Mortgages Work

PenFed is featured in our guide to the best banks and credit unions for military personnel and their families. You don’t need to be affiliated with the military to sign up, however – everyone is eligible for membership as long as you fill out a form and open a savings account with a minimum deposit of $ 5.

PenFed has approximately 50 branches in 13 US states, Washington, DC, and military bases in Guam, Puerto Rico, and Japan. You can find a PenFed credit union in the following states:

• California
• Florida
• Georgia
• Hawaii
• Maryland
• Nebraska
• New Jersey
• New Mexico
• New York
• North Carolina
• Pennsylvania
• Texas
• Virginia

PenFed offers a variety of home loans, including:

There are also refinancing options for conventional and VA mortgages.

The credit union has no FHA, USDA, new construction, or reverse mortgage options. You will also need to have a good credit rating to apply for a loan. PenFed does not accept any alternative form of credit.

Customer service for mortgage products is available by phone. If you have general mortgage questions, you can call Monday to Friday 8 a.m. to 8 p.m. ET, Saturday 8 a.m. to 11 p.m. ET, or Sunday 9 a.m. to 5 a.m. 30 p.m. ET.

If you’re applying for your first or second mortgage and have specific questions about the applications or the process, you’ll need to call another number available Monday through Friday, 9 a.m. to 10 p.m. ET, or Saturday. , 9 a.m. to 6 p.m. ET.

Can the Pentagon Federal Credit Union be trusted?

PenFed has no recent public controversies. The financial institution also received an A + rating from the Better Business Bureau. BBB ratings indicate whether a company responds effectively to customer issues and has transparent business practices.

A good BBB rating doesn’t necessarily guarantee that your experience with a lender will be great. If you want to see if a lender is right for you, talk to friends or family members who have worked with the lender. You can also read customer reviews online.

Mortgage and refinancing rates by state

Check out the latest rates for your state at the links below.

Alabama
Alaska
Arizona
Arkansas
California
Colorado
Connecticut
Delaware
Florida
Georgia
Hawaii
Idaho
Illinois
Indiana
Iowa
Kansas
Kentucky
Louisiana
Maine
Maryland
Massachusetts
Michigan
Minnesota
Mississippi
Missouri
Montana
Nebraska
Nevada
New Hampshire
New Jersey
New Mexico
New York
North Carolina
North Dakota
Ohio
Oklahoma
Oregon
Pennsylvania
Rhode Island
Caroline from the south
South Dakota
Tennessee
Utah
Vermont
Virginia
Washington
Washington DC
West Virginia
Wisconsin
Wyoming