January 13, 2026 • 8 mins
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Transcript
Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:00):
I had to send it. I told you, I had
to send this to Dave and say, wait a minute,
is this legit? Is this a real story? Mortgage rates
just fell below six percent for the first time. Dave
Galloway from Hertlanhill mortgage with this right now to talk
about this story and share He told me, yes, it
actually yes, some of you got to you gotta maybe
break it down for us, Dave. But we've seen these
(00:22):
we've seen these rates. We've seen some movement here lately.
Tell us what's going on and what's causing it?
Speaker 2 (00:29):
Yeah, I mean, I mean the fed braid drop has
had a significant effect on that. In addition, like we've
talked about many times on your show, most of this
stuff comes to speculation, right, It's like what do they
think is going to happen in the future. So that's
driving a lot of what these banks and investors are doing.
And so yeah, we've seen probably over the last couple
of months. I think I haven't done the matrix on it,
(00:52):
but over fifty percent of the loans we've closed in
the last two months have been below six percent. And
we're really approaching, like on that fifteen year loan, getting
close to the four you know, high force and so
significant improvements and really historically speaking, just fantastic rates from
what we've seen in the past. And it's it is
(01:15):
cheaper money, especially when you talk about people that are
at twenty seven percent on credit cards, I mean a
five percent mortgage or in the fives is pretty manageable money.
It doesn't obviously overcome the higher prices of homes, but
it certainly makes it more affordable.
Speaker 1 (01:31):
So how much of this is due to what we
saw last week? We heard obviously that the interest rates
with the fat and the change is there, But how
much of this is due to the fact that Trump
said he wanted to buy some bonds.
Speaker 2 (01:48):
Yeah, the announcement that he ordered Fanny and Freddy to
buy a two hundred billion worth of mortgage backed securities.
That's usually going to have a really big effect on
what's going on.
Speaker 1 (01:58):
Have seen that yet? Is this baked then yet? Or
is that still yet to come?
Speaker 2 (02:04):
It's coming, But once again, everything's based on speculation, right,
So when they confirmed, because obviously he likes to say
things and sometimes they'll happen and sometimes they won't.
Speaker 3 (02:13):
But I believe Polti, who's.
Speaker 2 (02:16):
The head of U hud announced that it is it
is happening, and it won't be something that happens on
like you know, they drop a hat and it's purchased.
It's usually something that's it happens at you know, in
increments over time. Either way, it's it's a positive thing
for interest rates when they make those announcements and it
helps drive down the rates. And I really think he's
(02:37):
trying to just buy some time until Powell's term is done,
because then they feel they're going to have they're going
to be able to do more aggressive than what Powell
would be as far as dropping rates.
Speaker 1 (02:46):
So let's let's take another step back and look at
another big announcement that he's Yeah, the other day he
said he wants these credit card companies who have these
outrageous rates twenty thirty percent whatever some people are paying,
he wants them to come down for ten percent for
a year. And I saw a guy talking about how
(03:07):
he believes that an explosion of boom is about ready
to come in the next year or so for for
lots of folks in for the economy and several different
with one of the things that he really recommended, and
this is some Dave Ramsey, But it really does make sense.
It's like, there are a lot of people that I've
just been crushed with this credit card stuff right now,
and if you're able to bring the rates down to
ten percent, maybe they can make those payments. But even better,
(03:31):
maybe he said you can if you're already making payments,
you can have those cards paid off in the next year,
get your house in order, and get things cleared up.
And as far as the home equity line of credit goes,
we start looking at this, hang how much would that
play into that strategy and what do you recommend people do?
(03:52):
I mean know, everybody's different, but right now we've got
some interesting set of circumstances here.
Speaker 2 (03:58):
Yeah, anytime you can take that and read the interest
on it, it gives you opportunity. Now, are you going
to use that opportunity to acquire more debt? Because if
you do, then it's really not accomplishing what the goal
is is to eliminate that debt. But if you're looking
at it and saying, I'm maxed out of my budget,
I can't pay my bills down, and now you get
(04:19):
that relief on interest and so my monthly payments minimum,
which means if I stick to my budget, I will
eliminate my debt a lot faster, which is always the
best way to go, right, is you should you don't
want to pay interest in this world. You want to
receive interest on money you're able to save. So yeah,
I think it could very well have a positive effect.
You know, but anytime government gets involved and you know,
(04:42):
creates new regulation, there's always a there's always a you know,
a side effect of that too, and does it you know,
will it create more debt by doing that?
Speaker 3 (04:50):
So it would remain to be seen.
Speaker 2 (04:52):
I mean, I think it would be great, but yeah,
the end all goal should be getting rid of the
credit card debt and then not using it again.
Speaker 3 (04:57):
Yeah.
Speaker 1 (04:58):
What you're getting at here, I think is what a
lot of folks, particularly right now on the right particularly
are looking at us, is singing, you know these things.
You know, he's getting involved in doing some things that
we don't necessarily we don't like, like in theory and principle,
maybe not necessarily what we want to see done, particularly
(05:18):
when the left does it, we really don't like it.
But when you know, because it kind of sounds like,
you know, I saw somebody in the chat say capital
controls and that that's like what mom Donnie wants to
do and is doing in New York City, and that
goes a completely different direction. But he seems to be
taking a different approach in sort of an emergency situation
(05:41):
to use these levers that have been put there that
he didn't put there to try and get the country
back on track. And it's a gamble because if it works, boy,
it really pays off. And if not, that's a whole
other question. And I wanted to put you in that
hot seat to conjecture on that, but just how does
that impact people specifically? And how can you be smart
(06:02):
right now?
Speaker 3 (06:05):
I mean how it affects people?
Speaker 2 (06:07):
You know, one of the in your comments they have below,
he's talking about making it to where large investment companies
cannot buy single family homes. I mean, it sounds good
on the surface, but once again, are we free market,
you know, free capital or not? And that's not what
that would say. So I don't know, would then drive
(06:27):
down home prices? Right, because you eliminate some of the competition,
so making it more affordable, some people can buy houses,
But then again you're driving down the price.
Speaker 3 (06:37):
So there's two sides to you know, every story.
Speaker 2 (06:40):
So yeah, I think there could be some positives to it,
and the biggest way to take advantage of it is
to look at the conditions where you're at right now.
Excuse me, So if you're you know, like we talked
about rates being fantastic, right now, home prices are starting
to kind of mellow a little bit, and we're seeing
it in other areas of the country more so where
the prices have come down. But the signs are there
(07:01):
that you know, in the West Michigan, Michigan area, you
could be trending back into a buyer's market, and that's fantastic.
If you have lower rates and you have home price
is coming down or sewing down a little bit, we're
gonna get more people in houses, and neviably that's what
we want, right It's become a homeowner, see that American
dream and use that. You know that you know, we've
talked about the net worth of homeowners in this country
(07:22):
and it's just so far outpaces those who don't own
a home. So that's inevitably what you want all this
to do is drive home ownership for people. But yeah,
the how much government gets involved, plus all of the
stuff he talks about it's going to go to the courts, right,
I mean as soon as the announces that somebody I
file a loss that you can't do that, and then
we'll have to wait it out and see what happens.
Speaker 3 (07:42):
Here.
Speaker 1 (07:42):
It is Artland Home Mortgage Dave Galloway with the latest
HHM lending dot Com day. People want to reach out,
find out whether it's maybe buying that home, maybe your
first lots of different options for you, or home equity,
line of credit and refinancing. Some folks maybe even look
at it that right now, either way they've got away.
The team going to point you in the right direction
(08:03):
at HHM lending dot Com. Thank you, my friend. Always
a pleasure, and man, things are really starting to heat
up AARTHT.
Speaker 3 (08:09):
They absolutely we always keep watching. Thanks for having me on.
Speaker 1 (08:13):
We'll have you back for updates.
I had to send it. I told you, I had
to send this to Dave and say, wait a minute,
is this legit? Is this a real story? Mortgage rates
just fell below six percent for the first time. Dave
Galloway from Hertlanhill mortgage with this right now to talk
about this story and share He told me, yes, it
actually yes, some of you got to you gotta maybe
break it down for us, Dave. But we've seen these
(00:22):
we've seen these rates. We've seen some movement here lately.
Tell us what's going on and what's causing it?
Speaker 2 (00:29):
Yeah, I mean, I mean the fed braid drop has
had a significant effect on that. In addition, like we've
talked about many times on your show, most of this
stuff comes to speculation, right, It's like what do they
think is going to happen in the future. So that's
driving a lot of what these banks and investors are doing.
And so yeah, we've seen probably over the last couple
of months. I think I haven't done the matrix on it,
(00:52):
but over fifty percent of the loans we've closed in
the last two months have been below six percent. And
we're really approaching, like on that fifteen year loan, getting
close to the four you know, high force and so
significant improvements and really historically speaking, just fantastic rates from
what we've seen in the past. And it's it is
(01:15):
cheaper money, especially when you talk about people that are
at twenty seven percent on credit cards, I mean a
five percent mortgage or in the fives is pretty manageable money.
It doesn't obviously overcome the higher prices of homes, but
it certainly makes it more affordable.
Speaker 1 (01:31):
So how much of this is due to what we
saw last week? We heard obviously that the interest rates
with the fat and the change is there, But how
much of this is due to the fact that Trump
said he wanted to buy some bonds.
Speaker 2 (01:48):
Yeah, the announcement that he ordered Fanny and Freddy to
buy a two hundred billion worth of mortgage backed securities.
That's usually going to have a really big effect on
what's going on.
Speaker 1 (01:58):
Have seen that yet? Is this baked then yet? Or
is that still yet to come?
Speaker 2 (02:04):
It's coming, But once again, everything's based on speculation, right,
So when they confirmed, because obviously he likes to say
things and sometimes they'll happen and sometimes they won't.
Speaker 3 (02:13):
But I believe Polti, who's.
Speaker 2 (02:16):
The head of U hud announced that it is it
is happening, and it won't be something that happens on
like you know, they drop a hat and it's purchased.
It's usually something that's it happens at you know, in
increments over time. Either way, it's it's a positive thing
for interest rates when they make those announcements and it
helps drive down the rates. And I really think he's
(02:37):
trying to just buy some time until Powell's term is done,
because then they feel they're going to have they're going
to be able to do more aggressive than what Powell
would be as far as dropping rates.
Speaker 1 (02:46):
So let's let's take another step back and look at
another big announcement that he's Yeah, the other day he
said he wants these credit card companies who have these
outrageous rates twenty thirty percent whatever some people are paying,
he wants them to come down for ten percent for
a year. And I saw a guy talking about how
(03:07):
he believes that an explosion of boom is about ready
to come in the next year or so for for
lots of folks in for the economy and several different
with one of the things that he really recommended, and
this is some Dave Ramsey, But it really does make sense.
It's like, there are a lot of people that I've
just been crushed with this credit card stuff right now,
and if you're able to bring the rates down to
ten percent, maybe they can make those payments. But even better,
(03:31):
maybe he said you can if you're already making payments,
you can have those cards paid off in the next year,
get your house in order, and get things cleared up.
And as far as the home equity line of credit goes,
we start looking at this, hang how much would that
play into that strategy and what do you recommend people do?
(03:52):
I mean know, everybody's different, but right now we've got
some interesting set of circumstances here.
Speaker 2 (03:58):
Yeah, anytime you can take that and read the interest
on it, it gives you opportunity. Now, are you going
to use that opportunity to acquire more debt? Because if
you do, then it's really not accomplishing what the goal
is is to eliminate that debt. But if you're looking
at it and saying, I'm maxed out of my budget,
I can't pay my bills down, and now you get
(04:19):
that relief on interest and so my monthly payments minimum,
which means if I stick to my budget, I will
eliminate my debt a lot faster, which is always the
best way to go, right, is you should you don't
want to pay interest in this world. You want to
receive interest on money you're able to save. So yeah,
I think it could very well have a positive effect.
You know, but anytime government gets involved and you know,
(04:42):
creates new regulation, there's always a there's always a you know,
a side effect of that too, and does it you know,
will it create more debt by doing that?
Speaker 3 (04:50):
So it would remain to be seen.
Speaker 2 (04:52):
I mean, I think it would be great, but yeah,
the end all goal should be getting rid of the
credit card debt and then not using it again.
Speaker 3 (04:57):
Yeah.
Speaker 1 (04:58):
What you're getting at here, I think is what a
lot of folks, particularly right now on the right particularly
are looking at us, is singing, you know these things.
You know, he's getting involved in doing some things that
we don't necessarily we don't like, like in theory and principle,
maybe not necessarily what we want to see done, particularly
(05:18):
when the left does it, we really don't like it.
But when you know, because it kind of sounds like,
you know, I saw somebody in the chat say capital
controls and that that's like what mom Donnie wants to
do and is doing in New York City, and that
goes a completely different direction. But he seems to be
taking a different approach in sort of an emergency situation
(05:41):
to use these levers that have been put there that
he didn't put there to try and get the country
back on track. And it's a gamble because if it works, boy,
it really pays off. And if not, that's a whole
other question. And I wanted to put you in that
hot seat to conjecture on that, but just how does
that impact people specifically? And how can you be smart
(06:02):
right now?
Speaker 3 (06:05):
I mean how it affects people?
Speaker 2 (06:07):
You know, one of the in your comments they have below,
he's talking about making it to where large investment companies
cannot buy single family homes. I mean, it sounds good
on the surface, but once again, are we free market,
you know, free capital or not? And that's not what
that would say. So I don't know, would then drive
(06:27):
down home prices? Right, because you eliminate some of the competition,
so making it more affordable, some people can buy houses,
But then again you're driving down the price.
Speaker 3 (06:37):
So there's two sides to you know, every story.
Speaker 2 (06:40):
So yeah, I think there could be some positives to it,
and the biggest way to take advantage of it is
to look at the conditions where you're at right now.
Excuse me, So if you're you know, like we talked
about rates being fantastic, right now, home prices are starting
to kind of mellow a little bit, and we're seeing
it in other areas of the country more so where
the prices have come down. But the signs are there
(07:01):
that you know, in the West Michigan, Michigan area, you
could be trending back into a buyer's market, and that's fantastic.
If you have lower rates and you have home price
is coming down or sewing down a little bit, we're
gonna get more people in houses, and neviably that's what
we want, right It's become a homeowner, see that American
dream and use that. You know that you know, we've
talked about the net worth of homeowners in this country
(07:22):
and it's just so far outpaces those who don't own
a home. So that's inevitably what you want all this
to do is drive home ownership for people. But yeah,
the how much government gets involved, plus all of the
stuff he talks about it's going to go to the courts, right,
I mean as soon as the announces that somebody I
file a loss that you can't do that, and then
we'll have to wait it out and see what happens.
Speaker 3 (07:42):
Here.
Speaker 1 (07:42):
It is Artland Home Mortgage Dave Galloway with the latest
HHM lending dot Com day. People want to reach out,
find out whether it's maybe buying that home, maybe your
first lots of different options for you, or home equity,
line of credit and refinancing. Some folks maybe even look
at it that right now, either way they've got away.
The team going to point you in the right direction
(08:03):
at HHM lending dot Com. Thank you, my friend. Always
a pleasure, and man, things are really starting to heat
up AARTHT.
Speaker 3 (08:09):
They absolutely we always keep watching. Thanks for having me on.
Speaker 1 (08:13):
We'll have you back for updates.
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