There are many myths and lots of misinformation about buy a home, here are 5 of the most common myths.

Purchasing a home may be a overwhelming task, but if you follow some simple steps, it can really help your process.

Mortgage rates in Boise simmering.

Mortgage rates ticked up last week. With us up .05 of a point and that is .10 for the last 2 weeks. It is all about China and Trade, again. As the stock market is rolling and hitting new highs each week, investors are putting their money into Stocks and out of Bonds and Mortgage Backed Securities. Again, no use talking about technicals or data (although new home sales were up 1.3% M/M) and traders are going to focus on Trump, Tariffs & Tweets over the next 2 weeks.

Also, don't forget:

• VA removed ALL Loan limits as of 1/1/2020.
• FHA loan limits are now $366,850,
• Conventional Loan limits are $510,400,
• High Balance Conventional is $765,500, and
• Jumbo is anything over $765,501 Merry Christmas to you all!

Mortgage rates in Idaho worsened last week, as the Trump Admin and China looks like they have made a trade deal, or atleast Phase 1.  I indicated a few months back that I felt the closer we got to the election the more likely a trade deal would get done.  I really feel that this deal was pushed up to front run the impeachment hearings...but what ever.

The bond market and stock market really are not looking at economic numbers and is focusing on Trade, so no use speaking about numbers today (housing, unemployment, inflation).  I will speak about the pending recession, when ever that may happen.  Two talking heads spoke last week, pushing the recession out of 2020 and into 2021, and with the pending Trade Deal, 2020 is looking REALLY GOOD for economic growth.

Watch for the details to come out of the Trade Deal, this will really either set the stock market on FIRE, and thus mortgage rates will continue to go up.  OR if it is like the deal with Mexico/Canada, which is flaking out, then we could see stocks sell off and mortgage rate improve.

Congress passed Blue Water Law that will dramatically help Veterans with Home Loans in Idaho!

Mortgage rates worsened again last week for Boise & Nampa, and through yesterday. The main cause is the potential of getting a trade deal with China AND the potential of the Federal Reserve lowering rates this week. YES when the Federal Reserve lowers their rates, historically mortgage rates go up.

Boiose Mortgage Rates ticked up slightly again last week, as there is more talk about a trade deal with China. If the US does get a trade deal with China, the talking heads are saying this could eliminate the Recession potential, and actually bring back a RED HOT economy, this bring back Inflation, and Inflation is BAD for mortgage rates. Keep watching the headlines: Trump, Tweets & Tariffs.

Mortgage rates for Boise & Nampa rose last week as Trump Tweeted that there might be a Trade Agreement with China. This caused the stock market to rally and mortgage rates to rise, quite a bit actually. Although recent economic news still points to a recession in late 2020, a Trade Deal could push the Recession back. Traders are pretty much ignoring economic news and are focusing on Tweets....unfortunately.