This is Derek Miller Speaking on Business. Utah’s housing market is hot. Over 55,000 homes were sold here last year, and more will be sold this year. James Cahoon, the Director of Business Development and Loan Officer with Momentum Loans, tells us about the mortgage business and what’s happening in the housing market.
Utah home prices have escalated dramatically in recent years, and with home costs continuing to increase, and mortgage rates going up, it’s important that buyers get the best value. That’s where Momentum Loans comes in.
We begin by hiring amazing people – people who bring a diversity of thought, high moral character, and a desire to push the boundaries of excellence in our industry. With their expertise and enthusiasm, our experienced leadership allows us to make decisions quickly.
That’s important in these challenging times. Mortgage rates have risen almost a full percentage point since late December, and Utah’s housing continues to be in short supply, so getting approved quickly is paramount.
If you’re thinking about buying a home, get prequalified on our website – momentumloans.com. We average below national market rates and help our customers get through closing as quickly as possible. Go to MomentumLoans.com for more.
Home prices increased 27 percent statewide last year, driven by low supplies and high demand. Real estate experts say this isn’t a bubble, so don’t expect big changes anytime soon. I’m Derek Miller with the Salt Lake Chamber, Speaking on Business.