Patriot Home Mortgage Makes Changes After Nationwide Interest Hike
ST. GEORGE, Utah (PRWEB) June 25, 2018 -- A recent increase to the Federal Reserve interest rate is the harbinger of change for home buyers across the country. While it may speak optimistically about the state of the economy, the interest rate increase also means changes for the mortgage industry, demanding adjustments from lenders.
Patriot Home Mortgage readies changes in relation to a recent increase to the Federal Reserve interest rate. The recent increase grew the rate from 1.75 percent to a full 2 percent, with another pair of potential increases forecasted by the end of 2018. An increase to the Federal Reserve interest rate implies that the economy as a whole is doing well, but it’s important to note that both increases and decreases to the Federal rate have the potential to drive up costs in a wide range of industries across the country.
The mortgage industry often sees a range of changes when the Federal Reserve interest rate is adjusted. A commonly anticipated change is that mortgage interest rates will also increase, and some lenders have already made that adjustment. Patriot Home Mortgage is making changes, though not in the expected manner. Where many lenders are increasing rates to keep up with the Federal hike, Patriot Home Mortgage is focusing firmly on borrowers’ needs. Before the rate hike, the company’s primary focus involved providing VA home loan options to lenders. In response to the recent Federal Reserve rate change, Patriot Home Mortgage’s focus as a company is shifting to encompass a broader scope of loan options. The stated aim in doing so is to offer borrowers greater breadth and depth of options, ultimately allowing for more individualized home loans. The Patriot team has already begun implementing changes. Loan offerings now include VA home loans as well as conventional, USDA, jumbo, FHA, and construction loans.
Those interested in learning more about the additional loan services offered can contact the Patriot Home Mortgage team directly at (866) 501-0618.
About Patriot Home Mortgage
Patriot Home Mortgage is a full-service mortgage brokerage licensed in 14 states. The Patriot Home Mortgage team offers the full loan origination process including underwriting, closing, funding, and shipping for a range of home loan options. Further information about loan options and states served can be found at https://www.patriothomemortgage.com.
Farra Larimore, Patriot Home Mortgage, https://www.patriothomemortgage.com, +1 970-541-3284, [email protected]
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