Your Trusted Mortgage Company
Ogden Mortgage Group, Inc has over 32 years of staff experience in the mortgage industry. From the front lines of helping customers obtain mortgage loans to Pre-Underwriting and getting your Loans Closed. Ogden Mortgage Group also has experience in Audit Reviews which ensures the loans meet specific guideline requirements. The industry knowledge encompasses a wide array of loan types and product services to better assist our customers. Ogden Mortgage Group also provides you with the information and tools to work towards your goals of homeownership: It’s never “No”, It’s “When”. We pride ourselves on open and honest communication in helping our customers obtain the best mortgage loan for their needs. While conducting our business with the highest level of integrity and moral standards, Ogden Mortgage Group provides you with superior customer service.
Ogden Mortgage Group Services/Products That We Offer
Food For Thought: Rates
October 1981 saw 30-year mortgage rates hit their historical peak at 18.45%. That same year saw the highest annual average at 16.63%.
In the 1990s, inflation started to calm down a little bit. The average mortgage rate in 1990 was 10.13%, but it slowly fell, finally dipping below 7% to come in at 6.94% in 1998.
Mortgage rates steadily declined from 8.05% in 2000 to the high-5% range in 2003. However,
it wasn’t all milk and honey in this decade. The housing crash happened in part because
property values declined steeply until they hit their lowest point in 2008. This left many
homeowners owing more on their homes than the property was worth.
Mortgage rates dropped in 2020 to an average of 2.68% due to the Federal Reserve lowering rates in response to COVID-19. Since that time, rates have edged up, but are still near historic lows.
Food For Thought: Rent
Analysts expect rent costs to keep increasing while other sectors of the economy start to cool
down as landlords reap a windfall from the lifting of eviction moratoriums that were enacted at
the height of COVID-19 — kicking out old tenants and bringing in new ones at higher rents.
For a glimpse of what could be ahead, just look at December 2021: Rents nationally shot up
14% compared to December 2020 — at a much faster clip than the 4% average seen throughout the rest of 2020, according to Redfin data.
Meanwhile, Americans expect the average cost of rent will rise by some 10% this year,
according to a report by the Federal Reserve Bank of New York.
Over the past year, in some of the most desirable cities, rent has increased even faster than the national average. Cities such as Austin saw average rent rise by as much as 40%, while the average cost of an apartment rose by up to 35% in places like New York City, Nassau County,
Long Island, Miami, and Newark.
Food For Thought: Commercial Funding
While Commercial Building and Businesses are booming throughout the United States, Ogden Mortgage Group is keeping up with the industry and rates. Ogden Mortgage Group can fund borrowers all over the United States and meet expectations for borrowers closing process. Ogden Mortgage Group has a few different lenders and many different property types that lenders work with. Do not hesitate to reach out with any questions that you may have.