Fed Meeting Causes Upheaval – Notes from Prestige Capital The Federal Reserve’s July meeting leaves the benchmark interest rate unchanged once again at the target range of 3.50% to 3.75%, with three of the nine committee members calling for a rate hike. This rattled Wall Street as the Dow plunged 1,153 points, and the 30-year…
When Discount Points Make Sense – Info from Prestige Capital Mortgage rates on 30-year fixed-rate loans are currently floating in the mid-6% range, and many experts are forecasting rates will remain there for the rest of the year. This leads some prospective homebuyers to consider buying discount points upfront to lower their interest rate. How…
Rate Alert: Fed Holds, Rates Drop – Info from Prestige Capital The Federal Reserve met last week and unanimously voted to hold the benchmark interest rate steady at 3.50% to 3.75%. While inflation is currently elevated at 4.2%, the Fed remains dedicated to delivering price stability. Of the 18 members of the Federal Open Market…
Inflation Busters to Stretch your Budget – Tips from Prestige Capital Inflation is at 4.2% based on the May 2026 Consumer Price Index data. This is the highest rate in three years, and we’re all painfully aware of the increase in gas and food prices. Here are a few inflation-fighting tips to stretch your budget.…
Can AI Get a Mortgage? Answers from Tracy Shaw at Prestige Capital AI is catching on rapidly and infiltrating our daily lives, but can it get you a mortgage? The answer is simply, “No!” While many banks, wholesale lenders – and even government entities such as Fannie Mae and Freddie Mac – have incorporated Artificial…
Prime Time for Home Buyers – Notes from Tracy Shaw of Prestige Capital Memorial Day weekend is coming up soon, which kicks off the summer real estate season! Many prospective homebuyers will take advantage of this three-day weekend to explore open houses and view listings. Here are a few tips to enhance the house-hunting adventure.…
SBA 504 Commercial Real Estate Financing Update from Prestige Capital SBA 504 fixed rates are currently as low as 5.95% with terms up to 25 years.* This program may be ideal for businesses looking to: • Purchase owner-occupied commercial property• Replace rising lease payments with ownership• Preserve working capital with lower down payment options• Secure…
Fed Holds Rates Steady Amid Split Decision – Info from Prestige Capital The Federal Reserve held the benchmark interest rate at their current range of 3.5% to 3.75% in a split decision last week. This caused a sell-off in the bond market, forcing yields higher. This, in turn, caused an uptick in mortgage interest rates,…
FHFA Implements Long-Awaited Credit Score Modernization- Info from Tracy Shaw at Prestige Capital It’s been years in the making – but finally – as of April 22, 2026, Fannie Mae, Freddie Mac, and FHA will allow lenders to use VantageScore® 4.0 to determine credit worthiness in mortgage applications. According to the Federal Housing Finance Agency…
ADUs Offer Perks to Homeowners – Tips from Prestige Capital Accessory Dwelling Units (ADUs) have become increasingly popular nationwide in recent years, offering affordable housing solutions for many Americans. An ADU is a smaller, self-contained structure on the same property as the primary residence, with full living, kitchen, and sanitation facilities. This can be attached…