Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:11):
Good morning. Like I say, tend you're listen Welcome Home
Show by Guardian Savings Bank. I'm Larry Frakes, Tim Adams
sitting here.
Speaker 2 (00:17):
With you this Saturday morning. We're glad to have you
tuned into us.
Speaker 1 (00:20):
Hope you had a good Christmas and you're excited about
the twenty twenty five Tim, I can't believe it. We're
staying alive in twenty five, buddy, we're still here getting
it done. So we'll keep on keeping on. I guess
by local, be local, stay local worksforce, so we'll keep
on using it.
Speaker 2 (00:35):
I guess, keep on keeping on. So Banks Hoping to day.
Speaker 1 (00:38):
From nine to one. Phone numbers eighty five nine eight
nine nine one nine three six South and drives eighty
five nine two sixty three three three three five. So
if you can hear, you can call UF. You're listening
to a new year's edition for Welcome Home Show, Guardian
Savings Bank, Hoping to Day from nine to one. Like
I said, give us a call Racer on the bouncing around.
They're all over the place, Tim, This bond market's about
(01:01):
don't know which direction to go, and that's what's dictating
these rates. Where do you see that's really directed at
this point, can you tell anything?
Speaker 3 (01:08):
No, But you know, in the scheme of things, most
of the most of our big most of the big
investors have already made all our moves prior to the
end of the year of the l file taxes, YadA, YadA, YadA.
Speaker 2 (01:23):
So as I comically.
Speaker 3 (01:25):
Say, all the money's on the yacht somewhere in the
in the islands, Larry, and it's not moving on Wall Street.
And I haven't looked today, but I'm sure the volume
is way down. Trading volume is down. Uh, and that's
not been good for bonds because you know, there's less
trading at this point in the year. So I'm hoping
(01:45):
that herre as we turned the corner to twenty twenty five,
where of the markets go and uh, you know, there's
a lot of optimism in this administration to rebuild this
economy and that's good for the stock market layer and
that's what you know, that's what we sit here and
try to gauge what mortgage rates do too, what's going
(02:06):
on almost docs, So I think there's just a it's
a law right now. I don't think you can really
crust any of the indicators. We're watching, So we're just
crossing our fingers for the first year that brings us
some relief at the pump, so to speak, and mortgage
rates come down a little bit because we know we
got homeowners ready to go.
Speaker 1 (02:25):
Yeah, well, hopefully they'll get something dialed in here. I mean,
you got the there's so much movement and shaken out here.
I don't know what to believe anymore. I mean, all
the smoking merrors with the aliens and all that stuff.
You've got the inauguration coming, and you've got people trying
to get a bill path fifteen hundred page bill passed
through that I'm going to close the government down. There's
so much this array this time of the year that
(02:47):
doesn't happen every year. But I mean, I thought we'd
be a better shape rate wise by now, and all
the indications from our history of doing this business for
thirty years plus the heat or however long we've been
doing it, you know, it seems that they should be
as well. So somebody's you know, uh, stirring the pot.
So we'll just settle in here, see what happens. There's
still people buying homes and and right now, I mean,
(03:08):
like we say, all the time Tim Marry, the home date,
the loan. So if you get in now, you've got
less buyers you compete with.
Speaker 2 (03:15):
You've got uh uh.
Speaker 1 (03:19):
You know, the market is not too saturated with available
home but there's quite a few homes out there.
Speaker 2 (03:24):
They're staying on the market now.
Speaker 1 (03:25):
It seems like, so, you know, you get if you
get what you can afford at this point, and and
and and then work from there. You know, it's not
something that you have to keep. You know, once you
get in, let's just let's let's make something happen, and
let's get pre approved from.
Speaker 2 (03:42):
When the rates do come down or what? Have you
been talking to a guy.
Speaker 1 (03:45):
Over Shelbyville area and uh, you know, he's like, I
want to keep my payment this amount. I was like, yeah,
you can't get a house for that. The people want
to Sometimes people get lucky enough to be able to
rent something. It's like we used to Tim, They're like, well,
we don't want to pay anything more. We're paying the rent.
And I said, well, to be a homeowner today's market,
it's tough to do, you know. And they qualify for
(04:05):
so much more than what they give themselves credit for.
And I was like our ratios that we put together
are tougher than yours, and we don't want to put
anybody in position to fail. But now's the time to buy,
you know. So that's uh, you know, still still moving,
still shaking, got plenty of applications in.
Speaker 2 (04:24):
Just need to make sure that people.
Speaker 1 (04:26):
Know still get it, keep moving, you know, let's let's
keep moving and keeping on the market. Go from there.
Speaker 3 (04:36):
Well, we really didn't every week. Don't let the rate
prohibit you from if you find the hall dream home
or whatever, a home you really really want. It's on
sale right now compared to what it will be when
rates do come down.
Speaker 1 (04:53):
Absolutely, And you know, I was trying to explain to
them a little bit about how the exquity in the
house is going to happen with the payments that they
make and the natural appreciation of the property. And in
central Kentucky we've done pretty well with you know, being
insulated from some crazy stuff on on the market swings.
(05:14):
But you should be getting you know, about an eight
percent return on the you know, just about anywhere in
central Kentucky, I think on what your investment is, so
you know, you're kay have an eight percent and seven
percent interests and you're paying down the balance and you
always have an opportunity to refinance, you know, like I say,
marry the home date the loan and should be in
(05:36):
pretty good shape of that.
Speaker 3 (05:37):
That being said, you know, it's a it's a it's
going to be a fun time here, Larry.
Speaker 2 (05:44):
We've got the college Championship.
Speaker 3 (05:47):
In full swing, the new format, and we've got got
some cats aren't on today, but we do have a
lot of NFL or in a home for the holidays,
and you may something to look forward to with your family.
Speaker 1 (06:02):
Got a lot of NFL today.
Speaker 3 (06:04):
And I know me and my son have enjoyed watching
the games over the holidays.
Speaker 2 (06:10):
Tell us what we got today, Larry. What's on the
line up today and on TV?
Speaker 1 (06:15):
Well, you got the Cards and the Rams late tonight.
But it starts off with the Chargers and the pass Patriots.
I guess whatever you want to call them, New England.
They completely changed around since its quarterbacks makes a big
difference stuff. And then the Broncos and the Bengals and
the Cards in the Rams, so it's fun. I like
(06:36):
when they play on Saturday. I'm a fantasy football guy,
but I'm already done our league's finishing up their championships.
I wound up participating in a pay in league and
got my money back, thank goodness.
Speaker 2 (06:46):
And it was fun.
Speaker 1 (06:48):
But it was a crazy year in this sport. And
I don't know exactly how it's gonna shake down as
far as the playoffs go. But you know, being from
the Kansas City area, obviously, I'm a fan of them
being out here year. I like the Bengals to see
them to do well. I don't think they're going to
be in this way off, but I don't know. I
had to put my finger on exact that.
Speaker 2 (07:08):
I mean, I like to teach cancers. I just don't
know if they'll do it all this year.
Speaker 1 (07:11):
I don't I don't know. I don't know what to
get Jason dunnback on here again, the guy that played
with the Chiefs that graduate from KAU will see what
he's he's he's got, he's got his finger on the
pulse there in Kansas City. Yeah, bring in an expert,
will chat with him a little bit. He does a
podcast as well, so we'll see with him, uh see
what's going on. But yeah, I liked it.
Speaker 2 (07:32):
I mean the Bowl games, you know what, the home teams.
Speaker 1 (07:35):
I thought it was pretty cool, you know, watching the
first round of games to him where you know, Notre
Dame was at home, Ohio State was at home.
Speaker 2 (07:44):
Man, what a great atmosphere that must have been, you know.
Speaker 3 (07:46):
It was those were fun games, although they weren't very
good games, and you know, retrospect, but uh.
Speaker 1 (07:54):
Well, the home field advantage, I think good. Exactly what
it was supposed to and he gives everything everybody, you know,
something to play for. They still got to fine tune
in a little bit. But I mean, you're right, those
games were you know, I didn't you know, I thought
Indiana hadn't be the top twenty five team or you
had that, you know, but they had the record and
they played a decent conference. Then you got Tennessee, who
I thought was pretty solid, and Ohio State gave them
(08:16):
everything they could handle. Shows you what it is, you know,
so you but I mean I think that those guys
were just I think that Tennessee.
Speaker 2 (08:22):
Was a little overwhelmed with the atmosphere and Ohio.
Speaker 1 (08:24):
Statement, I mean, how many how many.
Speaker 3 (08:28):
Illegal procedure calls and that's just nerves and people.
Speaker 2 (08:34):
Being you know, in an environment they're like they've been.
Speaker 1 (08:37):
In there all day. I mean the energy, you could
feel the energy. You know, a place was standing room only,
and it was the record setting you know weekend as
far as I'm concerned, as far as the way the
playoffs went, but that home field advantage was most certainly
a bigger part of the overall status of these games
and what I thought it would be. I thought that
they would be you know, I just thought they would
(08:58):
be closer. I was wrong, and I and you're I'm
a fan duel guy myself, Pinky, So I had it
wrong all the way.
Speaker 2 (09:04):
Of course, I'm.
Speaker 1 (09:06):
Taking the underdog a lot of times on these types
of deal just because they you know, seem to have
a lot to play for and the games are closer
than what they think. But uh, home team, Home team
got the business taken care of this time, and hopefully
it'll happen as they continue to move on, they'll figure
out how to work this format a little better for everybody.
So but today you got the NFL Chargers and the
(09:28):
Patriots Broncos, and the Bengals, Cards and the Rams and
you know, Chargers, I'd say the Chargers will probably win,
the Bengals will.
Speaker 2 (09:35):
Win, and the Rams.
Speaker 1 (09:37):
But we'll see. I mean, that's mine. If I was
doing a three team parlay, that's who I take with that. Chargers,
Bengals and Rams. I don't even know what the line
is on them. You know.
Speaker 2 (09:46):
Sometimes the more we study, tim will analyze till we paralyze.
There you go here, they made it easy. They've made
it easy to spend a few bucks online gambling, Yes
they do. You know the deposits going really easy with
draw little different.
Speaker 3 (10:01):
Yes, yes, I've justified that years ago by saying, if
I'm losing it, especially if I'm playing horses, at least
feel like I'm giving something back to the horse.
Speaker 2 (10:14):
Maybe I don't know.
Speaker 1 (10:16):
Yeah, I don't know about all that, but what I think.
Speaker 2 (10:21):
That you're agree we love the industry.
Speaker 1 (10:25):
Yes, you know, we've we've we've had some success at it.
You know, when we put our minds together and pick
out some winners for the derby or some superfectives and stuff.
That's fun. But anyhow, heck we I guess, hey, we're
not really talking about loans right now, or are we talking
about something completely everydoy on the NFL and meat we
started talking about game. Everybody talking about the game being
read and fixed and calls and all that stuff supports entertainment,
(10:48):
they call it right at this point in our library,
I don't think.
Speaker 3 (10:52):
We can rely on the game if we're a living
So we better get back to the mortgage exactly exactly.
Speaker 1 (10:58):
We've we've tried it long enough. But uh, it's uh,
it's it's gonna be a fun weekend just the same.
And I'm anxious see O the rest of these bulls
play out. You got New Year's uh coming here a
few days. Hope everybody's got some good plans and and
got some uh safe travel plans in in the in
the fold, so everybody can get back and forth safely
and get everything done that they want to do. So
(11:19):
don't have any.
Speaker 2 (11:20):
Big plans, but necessarily like kind of lay low.
Speaker 1 (11:22):
Tim, you're kind of the same way, kind of hanging
around the neighborhood to see what happens.
Speaker 2 (11:28):
You can't get area at home with Ryan seacrests.
Speaker 1 (11:32):
Yeah. Yeah, they got that deal out of Nashville now,
so they get the big, big event down there, and
you get the one.
Speaker 2 (11:38):
In New York, which you've been to before, I believe.
Speaker 3 (11:40):
But the ball drop, it was on my bucket this
and I've been there and done that, and that wash
I'll have to say, you know, from somebody that didn't
get to travel much as a young young lad New
York City was it's it's great to you know, you
hear all about it, but so you go, you really can't.
Speaker 2 (12:01):
It doesn't put it into perspective. Does that make sense?
Speaker 1 (12:04):
Yeah? Sure does. Hey, we're gonna take our first break
of the day. You're listening to Welcome Home Show by
Guardian Savings Bank. We're opening away from nine to one
numbers eight five nine, eight nine nine one nine three
six Southland Drives eighty five nine two six three three
three three five.
Speaker 2 (12:17):
So if you can hear, if you can call us.
Today's music provided by gravel Switch.
Speaker 1 (12:21):
Hopefully you can enjoy that. Find them online somewhere and
give them some supportive local band listen to. You're listen
to Welcome Home Show by Guardian.
Speaker 2 (12:28):
Savings Bank on News Radio six point.
Speaker 1 (12:29):
Thirty w l AMT.
Speaker 2 (12:32):
We'll be right back.
Speaker 1 (12:35):
You're back to the Welcome Home Show by Guardian Savings Bank.
Happy New Year, everybody. Hope you're enjoying your day.
Speaker 2 (12:40):
Hope you've got big plans for the next several days.
Speaker 1 (12:42):
And if you're traveling, please be safe, use your blinker,
stay out on the left lane. The left lane is
for passing in Kentucky, so stay out of the left
lane and turn your brakes off if you if you've
got somebody coming at you after hours, turn your lights on,
if you're got your windshow whiffers on. There's a few
rules people don't seem to follow anymore to it just
cracks me up on the driving. But I'm not a
(13:02):
mind reader, but you got to be defensive. But all times,
you know what I'm saying. The main thing is get
out and have fun, be safe, beware your surroundings, know
what's going on. So just you know, don't drink and
drive have fun. We call it amateur night as we
get older, because you know there's going to be roadblocks
somewhere and we'll hear one of our friends or somebody
getting a lesson paying a little tuition, I reckon. So anyhow,
(13:22):
but thanks for joining us today. We've been talking a
little bit about all kinds of stuff NFL later on
this afternoon. You got that going on the rates, we're
around seven percent on a thirty year fixed tim and
we still have our KHC money. That's five point seventy
five for first time home buy our program, So keep
that in mind if you want, give me a call.
Taking several applications for that loan program, and so far,
(13:43):
so good. The fees are different because it's a government program.
But if you really put the numbers to work on paper,
with your appreciation what you're paying and the amount, you
know that you can get a ten thousand dollars down
paying assistance.
Speaker 2 (13:55):
With the loan program.
Speaker 1 (13:56):
You can't. You can't beat that either, tim So you
can almost get in for one hundred percent for no dancing.
Just depends on your price range and so on and
so forth. But I've had several people do it and
take advantage of it. But when you're seven percent on
a thirty year conventional five point seventy five, you need
to at least look at it. If you're a first
time home buyer. There's some income limitations, but there's no
location guidelines or restrictions, so you know, keep that in
(14:17):
minds pretty cool.
Speaker 2 (14:18):
I've done several of them, and I've looked.
Speaker 1 (14:20):
Over several different programs. For all of them, I did
convert one person who had enough of a down payment
from that particular program over to a three to one
ARM just because they're going to pay it off in
three years. Anyway, even though they're first time home buyers,
they've got the wherewithal the money. They feel income wise,
they're just gonna be in a short term. So instead
of paying the fees for CAGC, we're just going to
do an ARM, take a higher rate, and they're going
to pay it off in thirty six months, is what
(14:42):
they say. If not, guess what, Tim, they don't have to.
Speaker 2 (14:44):
Marry the loan. They just got a date it so
we can we can find them a new partner.
Speaker 1 (14:49):
If they don't have it paid off in thirty six
months or the rates get locked up between now and
that thirty six months, we'll refinance it, take advantage of it,
and they can pay it off whenever they want. You know,
most of the people that I've been getting in on
that pro have come through and having some success with it.
So give us a call and we'll take a look
and see what's going on. And like Tim, you were saying,
you just right now it's the right time to buy.
(15:10):
I mean, you're the competition and uh, that amount of
qualified buyers and there's a lot of people sitting on
the fence, So get out and get something done. If
for something you like, and we'll refinance it down the road.
There's any Baker refinance at any time. A lot of
people don't pay attention to that, Tim. We talk about
it all the time we first started doing the show.
People will not look at their interest rate or what
they have and just keep paying. And I take a
(15:32):
lot of that's auto deduct in auto draft and so
on and so forth, kind of out of sight, out
of mind type of thing. You know, people need to
look and see. Even if you're at eight percent and
you want to refinance down to seven at this point,
that's fine. I mean, then when it goes to six
and a half or six, we'll do it again. The
closing costs, you know, should not be you know, the
old one percent great drop didn't come into play for
a long time at Guard. And now with the way
the government's redone all the delivery fees and stuff. Gotta
(15:54):
be careful about saying that, Tim, because they're gonna I mean,
you you can have eight hundred and forty credits than
twenty percent equity still have a delivery fee in today's world.
That just to me is that's just hard to get
used to.
Speaker 3 (16:05):
Well, I mean, that's all the nature of this business,
and that's part of what the bit of reserve is
imposed upon banks. They want more profitability because they want
more of their share. I don't know that would seem
to be the case in my eyes, because we're charging
these fees that between you and me they go to
essentially they go to Freddie Mack, our investor exactly. And
(16:27):
so that's built in to protect against some foreclosures.
Speaker 1 (16:31):
Down the road, you know, who knows.
Speaker 3 (16:34):
You know, as we've discussed many times, those fees were
really brought to light back in two thousand and eight,
nine ten and that time span when we were experiencing
tremendous foreclosure and so we were told that those fees
would be transitory, you know, until they got to the
(16:55):
government got some of the money they lost during that
time back well.
Speaker 1 (16:59):
We were told that that money was going to be
used to be collected on all the refinancy and purchases
and went on to help pay back the government that
bailed out Handy and Freddy, which we did. We watched
them pay every penny back. Then all of a sudden.
They stayed on there. They were built in the Obama
Healthcare program. They were going offset the expenses of that.
Took us meant to figure that out. Now it's onto
something else, but it goes into a fund and helps
(17:20):
offset losses that it helps create housing for people that
ordinarily wouldn't qualify. So there's a few good things with it.
But it's just like the ATM. You know, back in
the day, we put money in the bank, we want
to get it back at paid ATMP. It's kind of
what the deal is now with your house. They got
the delivery fees like ATM FE. So, I mean, there's
always something they're going to charge you for. We're gonna
take another break.
Speaker 2 (17:37):
You're listen to Welcome Home Show by Guardian Savings.
Speaker 1 (17:39):
Bank over to day from nine to one on numbers
eighty five, nine eight, nine, nine, nine three six.
Speaker 2 (17:43):
If you can hear, if you can call us, hope.
Speaker 1 (17:45):
You enjoyed gravel Switch coming and going on the Music
Today local group out of one and catch them somewhere.
You can find them on Spot of Buying other sources
where you get your music. You listen to us on
news Radio six thirty. Oh gotch w LAB We'll be
right back your back us The Welcome Home Show by
Guardian Savings Bank over to day from nine to one.
Speaker 2 (18:03):
Numbers eighty five, nine, eight, nine, nine, one, nine.
Speaker 1 (18:05):
Three six Southland Drives eight five nine two sixty three
three three three fives. If you can hear, you can
call us. Got Jamie Mortimer, Aeron O'Brien, Jim McKenzie and
Alexijuani over the Southland holding down four back where it
all started with.
Speaker 2 (18:19):
Us Pinky back in the day.
Speaker 1 (18:21):
And uh so they're over there doing good Aeron and
Aaron does a lot of the k C loans Faha
loans bah stuff too, So she's a good connection on
that side of town. And if you hear the radio show,
you want to give us a call and see what
timber I could do for you, let us know and
we'll put it in the system, get it rolling and
make some stuff happen. So anyhow, we'll be here if
(18:42):
you meet us. Eight five, nine, eight, nine, nine, one
nine three six so ten. It looks like the Feds
have come out this week and they said that they're
going to their forecast of four rate cuts in twenty
twenty five is now down to two, so they're thinking
that might lend some stability to the bond market. I
don't know really what to believe anymore, because cause everything
that every bit of news comes out to the need
(19:03):
jerk reaction that a lot of the information we're getting
is found to not be accurate or true. That creates
the non.
Speaker 2 (19:08):
Knee jerk reaction.
Speaker 1 (19:09):
So I don't know if we need get into investment
side of stuff and quick game, well, I guess that's
a gamble too. I said, we just do some calls
and puts on these bonds because there's no rhyme or reason.
I mean, they're off over between eight and eight hundred
and a million jobs on the Bureau Labor Statistics, you know,
I mean, where is the real information on what they're
making these decisions on for what's going on in the economy,
because the information that they're putting out isn't accurate. I
(19:34):
don't know. You know how much saftware you can put it,
you know, I don't. I mean, I don't know. I
mean they're over overworked and understaffed at BLS, and they
just came out and said they've off by about over
eight hundred thousand jobs. I think it was closer to
a million. According to some of the statistics of giving
credit for jobs of a million people that aren't that
(19:55):
didn't get them.
Speaker 2 (19:55):
They're not they're not real, so don't. I don't know
how that this, but anyway, this is what says.
Speaker 1 (20:01):
Bonds have finally achieved some balance again after the Fed
announced they changed their forecast from four rate cuts down
to two in twenty twenty five. The ten year are
pretty much flat today. After making a little comeback in
the afternoon trading on Thursday, I'm far to do the
day on Friday. Our investors, feeling a little better about
the stability, have moved some of their negative hedge and
(20:22):
rate pricing has improved as a result.
Speaker 2 (20:24):
Highlighted several lines in the government rates.
Speaker 1 (20:26):
Those are the ones that generally take effect when these
bond markers jump like they do. We pride ourselves for
a long time tim on keeping our pulse on the
dagum economy. We could kind of have an idea on
what was going on in our guidance was wind to
lock when not the lock?
Speaker 2 (20:40):
I don't know that I have all that contentcy.
Speaker 3 (20:42):
More to you, well, absolutely not, you know, but once
again it's the Federal Reserve's job to get all this
under control, or that's what we've expected as a tax
tamed citizen. All up to the Federal Reserve that to
give the guidance to get to two percent inflation and
(21:04):
get to this, you know, and help the mortgage rate situation.
And I think that something Trump's very interested in. It's
ultimately up to the independent Central Bank, which is known
as the Federal Reserve. Jerome Powell is the figurehead. But
there's a you know, as I do, Larry, there's a
(21:24):
lot of back room politics in the Federal Reserve even
and I'm talking about how it was founded, as we
alluded to a few shows back twenty nineteen thirteen, it
was established, and it's a complicated system, but all banking
relies on the Federal Reserve, and they've taken up the
(21:44):
challenge to get inflation down to two percent, and this
is part of their strategy which I don't quite understand.
But if there is in fact that relief that they
see that inflation is better, then that's where they're going
to make the decision to do what quantitative easy I
don't know, we don't know at this point.
Speaker 2 (22:03):
You're right, well, it's all.
Speaker 1 (22:05):
About the money. We know that. We know that the
Federal Reserve has nothing to do with the FEDS because
you know Obama's going to appoint somebody, but they're nothing
more than a figure head. We figured that out. But
the people running the Federal Reserve is you know, are
are are doing it obviously to make money, and you
know that's why it was put in place. You know,
(22:26):
when the nineteen thirties or forties, somebody wanted to put
in the Federal Reserve. And I don't they're not elected
officials at all. They're eight or nine different appointed officials
and you probably look them up and see where they're
tied to and what's going on. But mainly the people
in Congress are just kind of puppet figures and the
pr part of it. They're not making any of the
final decisions. But just getting accurate information would be a start.
(22:48):
We just you know, you get three different jobs reports
out and the Bureau Labor Statistics is overestimated.
Speaker 2 (22:53):
Jobs by me and by million.
Speaker 1 (22:56):
You know as well. Last week you know there was
let's see, a couple thousand less jobs and expected were reported.
Continuing claims rose up to the highest level since COVID
coming in at one point nine to one million, So
it seems that once unemployed, unemployed work is harder to find.
So I mean that's the information that came out, you know,
(23:16):
on Wednesday. So I mean you go back and you
look at all this stuff and it's just kill there's
I don't know what. It's the end of the year.
Like you said as well. I think they pointed that out.
You know, people are kind of on the fence. Mom's
finished the see the finish line for twenty twenty four.
Headmonds are facing the result of too much demand with
(23:36):
not enough interested buyers. Money is required at all times
to fund deficit spending and pay interest on the debt
already incurred, and those who are buying bombs are therefore
supplying that money. They're caught up in a year in
positioning or just distracted from holiday commitments, but the money supplies.
Speaker 2 (23:50):
Shrinks and prices drift higher.
Speaker 1 (23:53):
That's exactly what's going on. I think you mentioned that
tim just that time of the year where people are
kind of you know, getting everything wound down for their
tax purposes and their finals, So you know that goes
on as well. I don't know, I just really can't
tell you know, who to believe in and who's you know,
stirring who's driving the boat here. I don't know if
(24:13):
we're ever going to get to figure it out completely,
but it sure keeps change, and ALUs that's the fun
part of our job. Well, i'd love to see in
place in a two percent and see if something really
does change. Well, they'll think up another way to I
only want to get on that political soapbox. They'll think
up another way to make some money. And that's generally
not good for the people in some positions. But there's
always something going on. It's a it's a wild, wild,
(24:35):
wild world up there, Tim. We just got to ride
it out. And like I say, you know, the interest
rates being what they are, there's a lot of people
that are on the fence that that can't buy and
won't buy. So give you something out there you want,
give us a call. Let's see if we can take
a look at let's take a look at first time
Home by our program, and if it's for all. Like
I said, there are some income limitations, but there's no
location limitation to where you can find something at. So
(24:57):
we could put something together and and get you on
the market shopping right now before the rates go down,
more people are gonna be qualified.
Speaker 2 (25:04):
Do you have more competition on the home that you like?
Speaker 1 (25:06):
So keep that in mind. We're here to help you
and get everything going. So what's the high, tim Can
you look and see what the highest the bomb has
been this year and kind of what the fluctuation has
been the last couple of months.
Speaker 3 (25:18):
Well, there's been a radical move the wrong way, and
that's bonds that are not very attractive to investors. And
so that started happening, you know.
Speaker 2 (25:29):
Basically right after the election.
Speaker 3 (25:30):
If you want to back up the camera, at the
October October twenty fourth, the.
Speaker 2 (25:35):
Bond's trading a flat four point zero.
Speaker 3 (25:38):
One percent, and you go today and the bond yield
as four point six to zero, and that's that's a
that's a huge swing. That's sixty really what we call
basis points or sixty points percentage points and at the
right at the and.
Speaker 2 (25:56):
This all started right before the election. So at the
end of October.
Speaker 3 (26:02):
Our yeal is what I said, a four point oh eight,
let's say, after the election four point three to zero,
So we gained thirty percentage points or bonds just went
in the Tank after the election. That tells me that
investors were moving their money somewhere.
Speaker 1 (26:19):
Else to the stock market because they think that that's
where only I think we talked about that. They think
that a lot of people right now they know that
that how the economy grew under Trump last time, so
they're thinking, hey, whit what we can You know that
there's all kinds of different factors in there.
Speaker 2 (26:34):
But yep, it's since the election, man is done.
Speaker 1 (26:36):
Because we were at five seventy five, you know sometime
in October where we going to thirty year fixed.
Speaker 3 (26:41):
Yeah, but if you ask me, Larry, that's something that
the Federal Reserve of had the ability to control.
Speaker 2 (26:47):
So can you have both? We should be able to
have it both ways.
Speaker 3 (26:51):
It should be attractive for bond investors, it should be
attractive for stocks stock investors. And that's the positivity of
what Trump brings to the Tank with this election, that
investors think that the stock market is going to do
very well during his administration.
Speaker 1 (27:07):
Correct. Yes, so they're still trying to settle it on
what's going to happen here with all the changeover.
Speaker 3 (27:12):
But well, we saw some relief with the FED cut
just you know, back in the last month of October,
and of course that helps the payment on your heelock,
but that doesn't mean that we're going.
Speaker 2 (27:23):
To have lower thirty year fixed rate mortgages. And we
kind of stress.
Speaker 3 (27:26):
That weekend week out that the Fed Fund rate or
the what you read in the news doesn't gyrate with
mortgage rates, two different, totally different entities within the same
bubble per se. We just said, we're not seeing we're
not seeing treasuries do very well at all. Warren Buffett
was heavy on treasuries. I wonder where I haven't seen
(27:48):
where his investments have gone since that.
Speaker 2 (27:50):
That was leading up to the election. He was heavy
in treasuries.
Speaker 3 (27:55):
Treasury, he acquired more treasuries in the Federal Reserve, and
he's just a private set.
Speaker 1 (28:02):
Well. I guess when the last time the pal came
out and it took questions at the conference. It says
several things to take away from this experience. You can't
control interest rates, so don't pretend you can.
Speaker 2 (28:12):
What goes along with.
Speaker 1 (28:13):
That is you can't reverse time either. Making people think
you're more powerful than you do only set you up
parvel when the truth comes out. So our job here
is to let people know exactly what the rates are
when they are and then try to offer them an
opportunity to locker rate at the best chosen time. And
we used to have a.
Speaker 2 (28:27):
Lot of climbing that, a lot of uh, you.
Speaker 1 (28:30):
Know, success with picking it right and getting it right.
Speaker 3 (28:33):
We can still watch the indicators and tell someone whether
it's why it's the loft today for themselves, and then
the results happen, you know, if there's a reaction for
that action. So when we see that if a bond
yield's gone from four point six to oh to four
point sixty five, we're going to say, hey, customer, you
better lock in what's on the table today because bond
(28:55):
yields are moving the wrong way.
Speaker 2 (28:56):
Bond prices one down.
Speaker 1 (28:58):
And save that talk. Thank you, will come right back
talk to a little bit more. We've got another session left.
You're listened to Welcome Home Show by Guardian Savees Bank
over at eight from nine to one on number is
eighty five nine eight nine nine one nine three six
over today give.
Speaker 2 (29:11):
Us a call.
Speaker 1 (29:12):
We'll talk to you about what's going on.
Speaker 2 (29:13):
With your particular real estate needs.
Speaker 1 (29:16):
Hey, you're listening to music today by Gravel Switch through
out of the London Every fuck you good guys.
Speaker 2 (29:20):
So get out and watch it somewhere over New Years.
Speaker 1 (29:22):
You don't have any plans yet, you can find them online.
You're listening to Welcome Home Show by Guardian saves Bank
on news Radio.
Speaker 2 (29:29):
Jack thirty.
Speaker 1 (29:31):
Lap Let me right back. You're back. Listen to Welcome
Home Show about Guardian saves Bank, Larry Franks, Tim Adams
in here.
Speaker 2 (29:39):
Happy New Year everybody.
Speaker 1 (29:40):
We'd appreciate you tuning in to us.
Speaker 2 (29:41):
We hope everybody's had a good year.
Speaker 1 (29:43):
I'm ready for twenty twenty five to come around and
get started on that. So, as we talked about earlier,
don't have a lot of big plans. There's a lot
of fun stuff going on out there. So whatever your
plans are, just be safe. You know, when you're traveling
driving back and forth from Richmond, the lex insaid, it
just amazes me.
Speaker 2 (29:59):
You know.
Speaker 1 (29:59):
I mean we'll get in the left lane, but generally
I'm not waiting behind anybody. I'm rolling on. Tim kind
of like you, you know, you like to get up
there and cut your own path and get it going on. Well,
you know, these drivers are just you know, break neck
and weaving one lane of the other. I just kind
of back off a little bit, find my zone and
you know, speed up is and not try to force
(30:20):
the speed on the traffic, but let the speed come
to me.
Speaker 2 (30:24):
But some of those out there, they're just speed speech speed.
Speaker 3 (30:27):
Yeah, we get through, yeah, and sometimes even allow somebody
to get into the right hand lane.
Speaker 2 (30:33):
And there they are right on you know.
Speaker 1 (30:36):
Yeah. Well, I mean it's you know, everybody's got their
own philosophy. I like to try to stay away from everybody.
So I'll try to create a path and get away
from big, big crowds, and I try to You know,
what gets me is how many people driving the blind
spot of these eighteen wheelers driver around that left for
your tire driver can't see them. Nobody knows that there,
and then wheels do blow up and they do come off,
but people will sit right there riding that blind spot
like it. I'm just like, what are you thinking. I mean,
(30:58):
it's just it's one of the most danger jobs in
the world over the road, trucking.
Speaker 2 (31:02):
But I mean those you know, just amazes me what people.
Speaker 1 (31:07):
Out you know, how it comes through. But anyway, just
be safe this weekend, you know, get get where you
got to go and uh, just have a plan. I
guess just you know, keep paying attention to what's going
on around you, have a good time, and we're excited.
We appreciate everybody. We want to wish every very happy
New Year. That's you know, been a part of our
family for many years, and in twenty twenty five, we
(31:27):
hope to continue to grow it and keep things going.
Tim and I were just talking about fees and some
of the changes that have happened over the years in
this mortgage market and what they may or may not
do and how they affect us, and and we just
are appreciative of the business that we're still allowed to
do right here. Be local, by local, stay local. That's
(31:49):
what we say, and that's what you're going to do here.
Give us a call here eight five nine, eight nine
nine one nine pre six. Don't go online and fuill
out any of that because they're going to hook you
up with somebody out of Cincinnati, and it takes us
right out to the loop on being able to work
with you, and they're gonna get the same deal. I'm
not gonna say you're not well. We want you to
deal local.
Speaker 2 (32:05):
Come see this at the bank, Come see us at
South and come see.
Speaker 1 (32:08):
This at Hamburg. You know, puts some names and faces together.
We do a lot of stuff online. I get it.
You know, it's convenience, it's time saving, so on and
so forth. But you know, to give us a call,
we'll take an application over the phone. You are you
know we're gonna deal with local people, local closers, local appraisers,
local everything. You know, we live here. You're gonna see
us out and about.
Speaker 2 (32:29):
Or you can get online and talk to somebody that
you never know, never see and never run into, you know.
Speaker 1 (32:35):
If that's what ails you. I mean, but you know
we'll we can. We're as competitive as there is a
bank in the country. I can promise you. So at
least give us an opportunity. Make your three phone calls,
make us one of them, and we'll you'll give you
something to look at, and then you can compare apples
to apples hopefully, and we'll be in business. But we've
said that for many years. Can I like to tell people,
(32:55):
ain't go ahead and get you a couple of references.
Call these people. There are best competition, So who's got
the best deal? I ain't afraid, you know, And and
I Ain't you know how many times, Tim, have you
had somebody send you something that they got from somebody
else and you say, well, this is what we got,
we send the mars and all of a sudden that
could be matched. You know, we watched that go on
(33:15):
for years. We got about another minute here to talk.
But I mean, don't let that happen to you in
twenty twenty five.
Speaker 2 (33:20):
Let us get you something.
Speaker 1 (33:21):
We can't control what happens with the rates until we
can lock something for you, but we're going to give
you the best rate in the first shot deal. You know,
I don't know.
Speaker 2 (33:30):
We had people coming back to us going this, another
leaper's got this. You match it very often, does it?
Speaker 1 (33:35):
Tim?
Speaker 2 (33:36):
No, We're going to be right in the game. And
you know it's our costs.
Speaker 3 (33:40):
You know our costs are you know we eliminate lenders
title insurance.
Speaker 2 (33:44):
You can't say that often. That's uh, that's a.
Speaker 3 (33:47):
Health help healthy fee to pay it closing and we
don't require period so.
Speaker 2 (33:53):
Service the loans.
Speaker 1 (33:54):
Right.
Speaker 3 (33:55):
So that's a I think that's one of our biggest
that's the biggest plus I've done with us, is a
our closing costs B We service your loan What needs
more to be said that you can you know, if
you're s growing and you need to help with understanding
why you're s growing up and how you can deal
(34:17):
with it.
Speaker 2 (34:18):
I mean, there's just so many things that you can
deal with. It's not complicated. You talk to people. You
don't have to go through Prompts.
Speaker 3 (34:26):
One too, you know, and talk to somebody, Peggy, we're
in work quebecas man or whatever. So we talked about
that and made a lot of that. You don't talk
to people. We don't have a foreign entity in our
mortgage world, so you talk to real people in loan servicing.
And that's just where I think we set ourselves apart.
Speaker 1 (34:45):
Yeah, Hey, we hope our bad has a happy new Year.
We appreciate you tuning into us. Enjoy us in NFL
games today. We'll see how the rest of these Bowl
games turn out. Between now our next show. Happy new year,
everybody you've been listening Welcome Home Show by Guardian Savey's
bankel today from nine to one, number eighty five, nine
eight ninety nine one, nine thirty six.
Speaker 2 (35:01):
We're staying alive in twenty five. Baby, let's get it done.
Speaker 1 (35:04):
Tim, you can Listen to Welcome Home Show by Guardian
Savings Bank on News Radio six thirty w LAP Happy
Never Year,
Good morning. Like I say, tend you're listen Welcome Home
Show by Guardian Savings Bank. I'm Larry Frakes, Tim Adams
sitting here.
Speaker 2 (00:17):
With you this Saturday morning. We're glad to have you
tuned into us.
Speaker 1 (00:20):
Hope you had a good Christmas and you're excited about
the twenty twenty five Tim, I can't believe it. We're
staying alive in twenty five, buddy, we're still here getting
it done. So we'll keep on keeping on. I guess
by local, be local, stay local worksforce, so we'll keep
on using it.
Speaker 2 (00:35):
I guess, keep on keeping on. So Banks Hoping to day.
Speaker 1 (00:38):
From nine to one. Phone numbers eighty five nine eight
nine nine one nine three six South and drives eighty
five nine two sixty three three three three five. So
if you can hear, you can call UF. You're listening
to a new year's edition for Welcome Home Show, Guardian
Savings Bank, Hoping to Day from nine to one. Like
I said, give us a call Racer on the bouncing around.
They're all over the place, Tim, This bond market's about
(01:01):
don't know which direction to go, and that's what's dictating
these rates. Where do you see that's really directed at
this point, can you tell anything?
Speaker 3 (01:08):
No, But you know, in the scheme of things, most
of the most of our big most of the big
investors have already made all our moves prior to the
end of the year of the l file taxes, YadA, YadA, YadA.
Speaker 2 (01:23):
So as I comically.
Speaker 3 (01:25):
Say, all the money's on the yacht somewhere in the
in the islands, Larry, and it's not moving on Wall Street.
And I haven't looked today, but I'm sure the volume
is way down. Trading volume is down. Uh, and that's
not been good for bonds because you know, there's less
trading at this point in the year. So I'm hoping
(01:45):
that herre as we turned the corner to twenty twenty five,
where of the markets go and uh, you know, there's
a lot of optimism in this administration to rebuild this
economy and that's good for the stock market layer and
that's what you know, that's what we sit here and
try to gauge what mortgage rates do too, what's going
(02:06):
on almost docs, So I think there's just a it's
a law right now. I don't think you can really
crust any of the indicators. We're watching, So we're just
crossing our fingers for the first year that brings us
some relief at the pump, so to speak, and mortgage
rates come down a little bit because we know we
got homeowners ready to go.
Speaker 1 (02:25):
Yeah, well, hopefully they'll get something dialed in here. I mean,
you got the there's so much movement and shaken out here.
I don't know what to believe anymore. I mean, all
the smoking merrors with the aliens and all that stuff.
You've got the inauguration coming, and you've got people trying
to get a bill path fifteen hundred page bill passed
through that I'm going to close the government down. There's
so much this array this time of the year that
(02:47):
doesn't happen every year. But I mean, I thought we'd
be a better shape rate wise by now, and all
the indications from our history of doing this business for
thirty years plus the heat or however long we've been
doing it, you know, it seems that they should be
as well. So somebody's you know, uh, stirring the pot.
So we'll just settle in here, see what happens. There's
still people buying homes and and right now, I mean,
(03:08):
like we say, all the time Tim Marry, the home date,
the loan. So if you get in now, you've got
less buyers you compete with.
Speaker 2 (03:15):
You've got uh uh.
Speaker 1 (03:19):
You know, the market is not too saturated with available
home but there's quite a few homes out there.
Speaker 2 (03:24):
They're staying on the market now.
Speaker 1 (03:25):
It seems like, so, you know, you get if you
get what you can afford at this point, and and
and and then work from there. You know, it's not
something that you have to keep. You know, once you
get in, let's just let's let's make something happen, and
let's get pre approved from.
Speaker 2 (03:42):
When the rates do come down or what? Have you
been talking to a guy.
Speaker 1 (03:45):
Over Shelbyville area and uh, you know, he's like, I
want to keep my payment this amount. I was like, yeah,
you can't get a house for that. The people want
to Sometimes people get lucky enough to be able to
rent something. It's like we used to Tim, They're like, well,
we don't want to pay anything more. We're paying the rent.
And I said, well, to be a homeowner today's market,
it's tough to do, you know. And they qualify for
(04:05):
so much more than what they give themselves credit for.
And I was like our ratios that we put together
are tougher than yours, and we don't want to put
anybody in position to fail. But now's the time to buy,
you know. So that's uh, you know, still still moving,
still shaking, got plenty of applications in.
Speaker 2 (04:24):
Just need to make sure that people.
Speaker 1 (04:26):
Know still get it, keep moving, you know, let's let's
keep moving and keeping on the market. Go from there.
Speaker 3 (04:36):
Well, we really didn't every week. Don't let the rate
prohibit you from if you find the hall dream home
or whatever, a home you really really want. It's on
sale right now compared to what it will be when
rates do come down.
Speaker 1 (04:53):
Absolutely, And you know, I was trying to explain to
them a little bit about how the exquity in the
house is going to happen with the payments that they
make and the natural appreciation of the property. And in
central Kentucky we've done pretty well with you know, being
insulated from some crazy stuff on on the market swings.
(05:14):
But you should be getting you know, about an eight
percent return on the you know, just about anywhere in
central Kentucky, I think on what your investment is, so
you know, you're kay have an eight percent and seven
percent interests and you're paying down the balance and you
always have an opportunity to refinance, you know, like I say,
marry the home date the loan and should be in
(05:36):
pretty good shape of that.
Speaker 3 (05:37):
That being said, you know, it's a it's a it's
going to be a fun time here, Larry.
Speaker 2 (05:44):
We've got the college Championship.
Speaker 3 (05:47):
In full swing, the new format, and we've got got
some cats aren't on today, but we do have a
lot of NFL or in a home for the holidays,
and you may something to look forward to with your family.
Speaker 1 (06:02):
Got a lot of NFL today.
Speaker 3 (06:04):
And I know me and my son have enjoyed watching
the games over the holidays.
Speaker 2 (06:10):
Tell us what we got today, Larry. What's on the
line up today and on TV?
Speaker 1 (06:15):
Well, you got the Cards and the Rams late tonight.
But it starts off with the Chargers and the pass Patriots.
I guess whatever you want to call them, New England.
They completely changed around since its quarterbacks makes a big
difference stuff. And then the Broncos and the Bengals and
the Cards in the Rams, so it's fun. I like
(06:36):
when they play on Saturday. I'm a fantasy football guy,
but I'm already done our league's finishing up their championships.
I wound up participating in a pay in league and
got my money back, thank goodness.
Speaker 2 (06:46):
And it was fun.
Speaker 1 (06:48):
But it was a crazy year in this sport. And
I don't know exactly how it's gonna shake down as
far as the playoffs go. But you know, being from
the Kansas City area, obviously, I'm a fan of them
being out here year. I like the Bengals to see
them to do well. I don't think they're going to
be in this way off, but I don't know. I
had to put my finger on exact that.
Speaker 2 (07:08):
I mean, I like to teach cancers. I just don't
know if they'll do it all this year.
Speaker 1 (07:11):
I don't I don't know. I don't know what to
get Jason dunnback on here again, the guy that played
with the Chiefs that graduate from KAU will see what
he's he's he's got, he's got his finger on the
pulse there in Kansas City. Yeah, bring in an expert,
will chat with him a little bit. He does a
podcast as well, so we'll see with him, uh see
what's going on. But yeah, I liked it.
Speaker 2 (07:32):
I mean the Bowl games, you know what, the home teams.
Speaker 1 (07:35):
I thought it was pretty cool, you know, watching the
first round of games to him where you know, Notre
Dame was at home, Ohio State was at home.
Speaker 2 (07:44):
Man, what a great atmosphere that must have been, you know.
Speaker 3 (07:46):
It was those were fun games, although they weren't very
good games, and you know, retrospect, but uh.
Speaker 1 (07:54):
Well, the home field advantage, I think good. Exactly what
it was supposed to and he gives everything everybody, you know,
something to play for. They still got to fine tune
in a little bit. But I mean, you're right, those
games were you know, I didn't you know, I thought
Indiana hadn't be the top twenty five team or you
had that, you know, but they had the record and
they played a decent conference. Then you got Tennessee, who
I thought was pretty solid, and Ohio State gave them
(08:16):
everything they could handle. Shows you what it is, you know,
so you but I mean I think that those guys
were just I think that Tennessee.
Speaker 2 (08:22):
Was a little overwhelmed with the atmosphere and Ohio.
Speaker 1 (08:24):
Statement, I mean, how many how many.
Speaker 3 (08:28):
Illegal procedure calls and that's just nerves and people.
Speaker 2 (08:34):
Being you know, in an environment they're like they've been.
Speaker 1 (08:37):
In there all day. I mean the energy, you could
feel the energy. You know, a place was standing room only,
and it was the record setting you know weekend as
far as I'm concerned, as far as the way the
playoffs went, but that home field advantage was most certainly
a bigger part of the overall status of these games
and what I thought it would be. I thought that
they would be you know, I just thought they would
(08:58):
be closer. I was wrong, and I and you're I'm
a fan duel guy myself, Pinky, So I had it
wrong all the way.
Speaker 2 (09:04):
Of course, I'm.
Speaker 1 (09:06):
Taking the underdog a lot of times on these types
of deal just because they you know, seem to have
a lot to play for and the games are closer
than what they think. But uh, home team, Home team
got the business taken care of this time, and hopefully
it'll happen as they continue to move on, they'll figure
out how to work this format a little better for everybody.
So but today you got the NFL Chargers and the
(09:28):
Patriots Broncos, and the Bengals, Cards and the Rams and
you know, Chargers, I'd say the Chargers will probably win,
the Bengals will.
Speaker 2 (09:35):
Win, and the Rams.
Speaker 1 (09:37):
But we'll see. I mean, that's mine. If I was
doing a three team parlay, that's who I take with that. Chargers,
Bengals and Rams. I don't even know what the line
is on them. You know.
Speaker 2 (09:46):
Sometimes the more we study, tim will analyze till we paralyze.
There you go here, they made it easy. They've made
it easy to spend a few bucks online gambling, Yes
they do. You know the deposits going really easy with
draw little different.
Speaker 3 (10:01):
Yes, yes, I've justified that years ago by saying, if
I'm losing it, especially if I'm playing horses, at least
feel like I'm giving something back to the horse.
Speaker 2 (10:14):
Maybe I don't know.
Speaker 1 (10:16):
Yeah, I don't know about all that, but what I think.
Speaker 2 (10:21):
That you're agree we love the industry.
Speaker 1 (10:25):
Yes, you know, we've we've we've had some success at it.
You know, when we put our minds together and pick
out some winners for the derby or some superfectives and stuff.
That's fun. But anyhow, heck we I guess, hey, we're
not really talking about loans right now, or are we talking
about something completely everydoy on the NFL and meat we
started talking about game. Everybody talking about the game being
read and fixed and calls and all that stuff supports entertainment,
(10:48):
they call it right at this point in our library,
I don't think.
Speaker 3 (10:52):
We can rely on the game if we're a living
So we better get back to the mortgage exactly exactly.
Speaker 1 (10:58):
We've we've tried it long enough. But uh, it's uh,
it's it's gonna be a fun weekend just the same.
And I'm anxious see O the rest of these bulls
play out. You got New Year's uh coming here a
few days. Hope everybody's got some good plans and and
got some uh safe travel plans in in the in
the fold, so everybody can get back and forth safely
and get everything done that they want to do. So
(11:19):
don't have any.
Speaker 2 (11:20):
Big plans, but necessarily like kind of lay low.
Speaker 1 (11:22):
Tim, you're kind of the same way, kind of hanging
around the neighborhood to see what happens.
Speaker 2 (11:28):
You can't get area at home with Ryan seacrests.
Speaker 1 (11:32):
Yeah. Yeah, they got that deal out of Nashville now,
so they get the big, big event down there, and
you get the one.
Speaker 2 (11:38):
In New York, which you've been to before, I believe.
Speaker 3 (11:40):
But the ball drop, it was on my bucket this
and I've been there and done that, and that wash
I'll have to say, you know, from somebody that didn't
get to travel much as a young young lad New
York City was it's it's great to you know, you
hear all about it, but so you go, you really can't.
Speaker 2 (12:01):
It doesn't put it into perspective. Does that make sense?
Speaker 1 (12:04):
Yeah? Sure does. Hey, we're gonna take our first break
of the day. You're listening to Welcome Home Show by
Guardian Savings Bank. We're opening away from nine to one
numbers eight five nine, eight nine nine one nine three
six Southland Drives eighty five nine two six three three
three three five.
Speaker 2 (12:17):
So if you can hear, if you can call us.
Today's music provided by gravel Switch.
Speaker 1 (12:21):
Hopefully you can enjoy that. Find them online somewhere and
give them some supportive local band listen to. You're listen
to Welcome Home Show by Guardian.
Speaker 2 (12:28):
Savings Bank on News Radio six point.
Speaker 1 (12:29):
Thirty w l AMT.
Speaker 2 (12:32):
We'll be right back.
Speaker 1 (12:35):
You're back to the Welcome Home Show by Guardian Savings Bank.
Happy New Year, everybody. Hope you're enjoying your day.
Speaker 2 (12:40):
Hope you've got big plans for the next several days.
Speaker 1 (12:42):
And if you're traveling, please be safe, use your blinker,
stay out on the left lane. The left lane is
for passing in Kentucky, so stay out of the left
lane and turn your brakes off if you if you've
got somebody coming at you after hours, turn your lights on,
if you're got your windshow whiffers on. There's a few
rules people don't seem to follow anymore to it just
cracks me up on the driving. But I'm not a
(13:02):
mind reader, but you got to be defensive. But all times,
you know what I'm saying. The main thing is get
out and have fun, be safe, beware your surroundings, know
what's going on. So just you know, don't drink and
drive have fun. We call it amateur night as we
get older, because you know there's going to be roadblocks
somewhere and we'll hear one of our friends or somebody
getting a lesson paying a little tuition, I reckon. So anyhow,
(13:22):
but thanks for joining us today. We've been talking a
little bit about all kinds of stuff NFL later on
this afternoon. You got that going on the rates, we're
around seven percent on a thirty year fixed tim and
we still have our KHC money. That's five point seventy
five for first time home buy our program, So keep
that in mind if you want, give me a call.
Taking several applications for that loan program, and so far,
(13:43):
so good. The fees are different because it's a government program.
But if you really put the numbers to work on paper,
with your appreciation what you're paying and the amount, you
know that you can get a ten thousand dollars down
paying assistance.
Speaker 2 (13:55):
With the loan program.
Speaker 1 (13:56):
You can't. You can't beat that either, tim So you
can almost get in for one hundred percent for no dancing.
Just depends on your price range and so on and
so forth. But I've had several people do it and
take advantage of it. But when you're seven percent on
a thirty year conventional five point seventy five, you need
to at least look at it. If you're a first
time home buyer. There's some income limitations, but there's no
location guidelines or restrictions, so you know, keep that in
(14:17):
minds pretty cool.
Speaker 2 (14:18):
I've done several of them, and I've looked.
Speaker 1 (14:20):
Over several different programs. For all of them, I did
convert one person who had enough of a down payment
from that particular program over to a three to one
ARM just because they're going to pay it off in
three years. Anyway, even though they're first time home buyers,
they've got the wherewithal the money. They feel income wise,
they're just gonna be in a short term. So instead
of paying the fees for CAGC, we're just going to
do an ARM, take a higher rate, and they're going
to pay it off in thirty six months, is what
(14:42):
they say. If not, guess what, Tim, they don't have to.
Speaker 2 (14:44):
Marry the loan. They just got a date it so
we can we can find them a new partner.
Speaker 1 (14:49):
If they don't have it paid off in thirty six
months or the rates get locked up between now and
that thirty six months, we'll refinance it, take advantage of it,
and they can pay it off whenever they want. You know,
most of the people that I've been getting in on
that pro have come through and having some success with it.
So give us a call and we'll take a look
and see what's going on. And like Tim, you were saying,
you just right now it's the right time to buy.
(15:10):
I mean, you're the competition and uh, that amount of
qualified buyers and there's a lot of people sitting on
the fence, So get out and get something done. If
for something you like, and we'll refinance it down the road.
There's any Baker refinance at any time. A lot of
people don't pay attention to that, Tim. We talk about
it all the time we first started doing the show.
People will not look at their interest rate or what
they have and just keep paying. And I take a
(15:32):
lot of that's auto deduct in auto draft and so
on and so forth, kind of out of sight, out
of mind type of thing. You know, people need to
look and see. Even if you're at eight percent and
you want to refinance down to seven at this point,
that's fine. I mean, then when it goes to six
and a half or six, we'll do it again. The
closing costs, you know, should not be you know, the
old one percent great drop didn't come into play for
a long time at Guard. And now with the way
the government's redone all the delivery fees and stuff. Gotta
(15:54):
be careful about saying that, Tim, because they're gonna I mean,
you you can have eight hundred and forty credits than
twenty percent equity still have a delivery fee in today's world.
That just to me is that's just hard to get
used to.
Speaker 3 (16:05):
Well, I mean, that's all the nature of this business,
and that's part of what the bit of reserve is
imposed upon banks. They want more profitability because they want
more of their share. I don't know that would seem
to be the case in my eyes, because we're charging
these fees that between you and me they go to
essentially they go to Freddie Mack, our investor exactly. And
(16:27):
so that's built in to protect against some foreclosures.
Speaker 1 (16:31):
Down the road, you know, who knows.
Speaker 3 (16:34):
You know, as we've discussed many times, those fees were
really brought to light back in two thousand and eight,
nine ten and that time span when we were experiencing
tremendous foreclosure and so we were told that those fees
would be transitory, you know, until they got to the
(16:55):
government got some of the money they lost during that
time back well.
Speaker 1 (16:59):
We were told that that money was going to be
used to be collected on all the refinancy and purchases
and went on to help pay back the government that
bailed out Handy and Freddy, which we did. We watched
them pay every penny back. Then all of a sudden.
They stayed on there. They were built in the Obama
Healthcare program. They were going offset the expenses of that.
Took us meant to figure that out. Now it's onto
something else, but it goes into a fund and helps
(17:20):
offset losses that it helps create housing for people that
ordinarily wouldn't qualify. So there's a few good things with it.
But it's just like the ATM. You know, back in
the day, we put money in the bank, we want
to get it back at paid ATMP. It's kind of
what the deal is now with your house. They got
the delivery fees like ATM FE. So, I mean, there's
always something they're going to charge you for. We're gonna
take another break.
Speaker 2 (17:37):
You're listen to Welcome Home Show by Guardian Savings.
Speaker 1 (17:39):
Bank over to day from nine to one on numbers
eighty five, nine eight, nine, nine, nine three six.
Speaker 2 (17:43):
If you can hear, if you can call us, hope.
Speaker 1 (17:45):
You enjoyed gravel Switch coming and going on the Music
Today local group out of one and catch them somewhere.
You can find them on Spot of Buying other sources
where you get your music. You listen to us on
news Radio six thirty. Oh gotch w LAB We'll be
right back your back us The Welcome Home Show by
Guardian Savings Bank over to day from nine to one.
Speaker 2 (18:03):
Numbers eighty five, nine, eight, nine, nine, one, nine.
Speaker 1 (18:05):
Three six Southland Drives eight five nine two sixty three
three three three fives. If you can hear, you can
call us. Got Jamie Mortimer, Aeron O'Brien, Jim McKenzie and
Alexijuani over the Southland holding down four back where it
all started with.
Speaker 2 (18:19):
Us Pinky back in the day.
Speaker 1 (18:21):
And uh so they're over there doing good Aeron and
Aaron does a lot of the k C loans Faha
loans bah stuff too, So she's a good connection on
that side of town. And if you hear the radio show,
you want to give us a call and see what
timber I could do for you, let us know and
we'll put it in the system, get it rolling and
make some stuff happen. So anyhow, we'll be here if
(18:42):
you meet us. Eight five, nine, eight, nine, nine, one
nine three six so ten. It looks like the Feds
have come out this week and they said that they're
going to their forecast of four rate cuts in twenty
twenty five is now down to two, so they're thinking
that might lend some stability to the bond market. I
don't know really what to believe anymore, because cause everything
that every bit of news comes out to the need
(19:03):
jerk reaction that a lot of the information we're getting
is found to not be accurate or true. That creates
the non.
Speaker 2 (19:08):
Knee jerk reaction.
Speaker 1 (19:09):
So I don't know if we need get into investment
side of stuff and quick game, well, I guess that's
a gamble too. I said, we just do some calls
and puts on these bonds because there's no rhyme or reason.
I mean, they're off over between eight and eight hundred
and a million jobs on the Bureau Labor Statistics, you know,
I mean, where is the real information on what they're
making these decisions on for what's going on in the economy,
because the information that they're putting out isn't accurate. I
(19:34):
don't know. You know how much saftware you can put it,
you know, I don't. I mean, I don't know. I
mean they're over overworked and understaffed at BLS, and they
just came out and said they've off by about over
eight hundred thousand jobs. I think it was closer to
a million. According to some of the statistics of giving
credit for jobs of a million people that aren't that
(19:55):
didn't get them.
Speaker 2 (19:55):
They're not they're not real, so don't. I don't know
how that this, but anyway, this is what says.
Speaker 1 (20:01):
Bonds have finally achieved some balance again after the Fed
announced they changed their forecast from four rate cuts down
to two in twenty twenty five. The ten year are
pretty much flat today. After making a little comeback in
the afternoon trading on Thursday, I'm far to do the
day on Friday. Our investors, feeling a little better about
the stability, have moved some of their negative hedge and
(20:22):
rate pricing has improved as a result.
Speaker 2 (20:24):
Highlighted several lines in the government rates.
Speaker 1 (20:26):
Those are the ones that generally take effect when these
bond markers jump like they do. We pride ourselves for
a long time tim on keeping our pulse on the
dagum economy. We could kind of have an idea on
what was going on in our guidance was wind to
lock when not the lock?
Speaker 2 (20:40):
I don't know that I have all that contentcy.
Speaker 3 (20:42):
More to you, well, absolutely not, you know, but once
again it's the Federal Reserve's job to get all this
under control, or that's what we've expected as a tax
tamed citizen. All up to the Federal Reserve that to
give the guidance to get to two percent inflation and
(21:04):
get to this, you know, and help the mortgage rate situation.
And I think that something Trump's very interested in. It's
ultimately up to the independent Central Bank, which is known
as the Federal Reserve. Jerome Powell is the figurehead. But
there's a you know, as I do, Larry, there's a
(21:24):
lot of back room politics in the Federal Reserve even
and I'm talking about how it was founded, as we
alluded to a few shows back twenty nineteen thirteen, it
was established, and it's a complicated system, but all banking
relies on the Federal Reserve, and they've taken up the
(21:44):
challenge to get inflation down to two percent, and this
is part of their strategy which I don't quite understand.
But if there is in fact that relief that they
see that inflation is better, then that's where they're going
to make the decision to do what quantitative easy I
don't know, we don't know at this point.
Speaker 2 (22:03):
You're right, well, it's all.
Speaker 1 (22:05):
About the money. We know that. We know that the
Federal Reserve has nothing to do with the FEDS because
you know Obama's going to appoint somebody, but they're nothing
more than a figure head. We figured that out. But
the people running the Federal Reserve is you know, are
are are doing it obviously to make money, and you
know that's why it was put in place. You know,
(22:26):
when the nineteen thirties or forties, somebody wanted to put
in the Federal Reserve. And I don't they're not elected
officials at all. They're eight or nine different appointed officials
and you probably look them up and see where they're
tied to and what's going on. But mainly the people
in Congress are just kind of puppet figures and the
pr part of it. They're not making any of the
final decisions. But just getting accurate information would be a start.
(22:48):
We just you know, you get three different jobs reports
out and the Bureau Labor Statistics is overestimated.
Speaker 2 (22:53):
Jobs by me and by million.
Speaker 1 (22:56):
You know as well. Last week you know there was
let's see, a couple thousand less jobs and expected were reported.
Continuing claims rose up to the highest level since COVID
coming in at one point nine to one million, So
it seems that once unemployed, unemployed work is harder to find.
So I mean that's the information that came out, you know,
(23:16):
on Wednesday. So I mean you go back and you
look at all this stuff and it's just kill there's
I don't know what. It's the end of the year.
Like you said as well. I think they pointed that out.
You know, people are kind of on the fence. Mom's
finished the see the finish line for twenty twenty four.
Headmonds are facing the result of too much demand with
(23:36):
not enough interested buyers. Money is required at all times
to fund deficit spending and pay interest on the debt
already incurred, and those who are buying bombs are therefore
supplying that money. They're caught up in a year in
positioning or just distracted from holiday commitments, but the money supplies.
Speaker 2 (23:50):
Shrinks and prices drift higher.
Speaker 1 (23:53):
That's exactly what's going on. I think you mentioned that
tim just that time of the year where people are
kind of you know, getting everything wound down for their
tax purposes and their finals, So you know that goes
on as well. I don't know, I just really can't
tell you know, who to believe in and who's you know,
stirring who's driving the boat here. I don't know if
(24:13):
we're ever going to get to figure it out completely,
but it sure keeps change, and ALUs that's the fun
part of our job. Well, i'd love to see in
place in a two percent and see if something really
does change. Well, they'll think up another way to I
only want to get on that political soapbox. They'll think
up another way to make some money. And that's generally
not good for the people in some positions. But there's
always something going on. It's a it's a wild, wild,
(24:35):
wild world up there, Tim. We just got to ride
it out. And like I say, you know, the interest
rates being what they are, there's a lot of people
that are on the fence that that can't buy and
won't buy. So give you something out there you want,
give us a call. Let's see if we can take
a look at let's take a look at first time
Home by our program, and if it's for all. Like
I said, there are some income limitations, but there's no
location limitation to where you can find something at. So
(24:57):
we could put something together and and get you on
the market shopping right now before the rates go down,
more people are gonna be qualified.
Speaker 2 (25:04):
Do you have more competition on the home that you like?
Speaker 1 (25:06):
So keep that in mind. We're here to help you
and get everything going. So what's the high, tim Can
you look and see what the highest the bomb has
been this year and kind of what the fluctuation has
been the last couple of months.
Speaker 3 (25:18):
Well, there's been a radical move the wrong way, and
that's bonds that are not very attractive to investors. And
so that started happening, you know.
Speaker 2 (25:29):
Basically right after the election.
Speaker 3 (25:30):
If you want to back up the camera, at the
October October twenty fourth, the.
Speaker 2 (25:35):
Bond's trading a flat four point zero.
Speaker 3 (25:38):
One percent, and you go today and the bond yield
as four point six to zero, and that's that's a
that's a huge swing. That's sixty really what we call
basis points or sixty points percentage points and at the
right at the and.
Speaker 2 (25:56):
This all started right before the election. So at the
end of October.
Speaker 3 (26:02):
Our yeal is what I said, a four point oh eight,
let's say, after the election four point three to zero,
So we gained thirty percentage points or bonds just went
in the Tank after the election. That tells me that
investors were moving their money somewhere.
Speaker 1 (26:19):
Else to the stock market because they think that that's
where only I think we talked about that. They think
that a lot of people right now they know that
that how the economy grew under Trump last time, so
they're thinking, hey, whit what we can You know that
there's all kinds of different factors in there.
Speaker 2 (26:34):
But yep, it's since the election, man is done.
Speaker 1 (26:36):
Because we were at five seventy five, you know sometime
in October where we going to thirty year fixed.
Speaker 3 (26:41):
Yeah, but if you ask me, Larry, that's something that
the Federal Reserve of had the ability to control.
Speaker 2 (26:47):
So can you have both? We should be able to
have it both ways.
Speaker 3 (26:51):
It should be attractive for bond investors, it should be
attractive for stocks stock investors. And that's the positivity of
what Trump brings to the Tank with this election, that
investors think that the stock market is going to do
very well during his administration.
Speaker 1 (27:07):
Correct. Yes, so they're still trying to settle it on
what's going to happen here with all the changeover.
Speaker 3 (27:12):
But well, we saw some relief with the FED cut
just you know, back in the last month of October,
and of course that helps the payment on your heelock,
but that doesn't mean that we're going.
Speaker 2 (27:23):
To have lower thirty year fixed rate mortgages. And we
kind of stress.
Speaker 3 (27:26):
That weekend week out that the Fed Fund rate or
the what you read in the news doesn't gyrate with
mortgage rates, two different, totally different entities within the same
bubble per se. We just said, we're not seeing we're
not seeing treasuries do very well at all. Warren Buffett
was heavy on treasuries. I wonder where I haven't seen
(27:48):
where his investments have gone since that.
Speaker 2 (27:50):
That was leading up to the election. He was heavy
in treasuries.
Speaker 3 (27:55):
Treasury, he acquired more treasuries in the Federal Reserve, and
he's just a private set.
Speaker 1 (28:02):
Well. I guess when the last time the pal came
out and it took questions at the conference. It says
several things to take away from this experience. You can't
control interest rates, so don't pretend you can.
Speaker 2 (28:12):
What goes along with.
Speaker 1 (28:13):
That is you can't reverse time either. Making people think
you're more powerful than you do only set you up
parvel when the truth comes out. So our job here
is to let people know exactly what the rates are
when they are and then try to offer them an
opportunity to locker rate at the best chosen time. And
we used to have a.
Speaker 2 (28:27):
Lot of climbing that, a lot of uh, you.
Speaker 1 (28:30):
Know, success with picking it right and getting it right.
Speaker 3 (28:33):
We can still watch the indicators and tell someone whether
it's why it's the loft today for themselves, and then
the results happen, you know, if there's a reaction for
that action. So when we see that if a bond
yield's gone from four point six to oh to four
point sixty five, we're going to say, hey, customer, you
better lock in what's on the table today because bond
(28:55):
yields are moving the wrong way.
Speaker 2 (28:56):
Bond prices one down.
Speaker 1 (28:58):
And save that talk. Thank you, will come right back
talk to a little bit more. We've got another session left.
You're listened to Welcome Home Show by Guardian Savees Bank
over at eight from nine to one on number is
eighty five nine eight nine nine one nine three six
over today give.
Speaker 2 (29:11):
Us a call.
Speaker 1 (29:12):
We'll talk to you about what's going on.
Speaker 2 (29:13):
With your particular real estate needs.
Speaker 1 (29:16):
Hey, you're listening to music today by Gravel Switch through
out of the London Every fuck you good guys.
Speaker 2 (29:20):
So get out and watch it somewhere over New Years.
Speaker 1 (29:22):
You don't have any plans yet, you can find them online.
You're listening to Welcome Home Show by Guardian saves Bank
on news Radio.
Speaker 2 (29:29):
Jack thirty.
Speaker 1 (29:31):
Lap Let me right back. You're back. Listen to Welcome
Home Show about Guardian saves Bank, Larry Franks, Tim Adams
in here.
Speaker 2 (29:39):
Happy New Year everybody.
Speaker 1 (29:40):
We'd appreciate you tuning in to us.
Speaker 2 (29:41):
We hope everybody's had a good year.
Speaker 1 (29:43):
I'm ready for twenty twenty five to come around and
get started on that. So, as we talked about earlier,
don't have a lot of big plans. There's a lot
of fun stuff going on out there. So whatever your
plans are, just be safe. You know, when you're traveling
driving back and forth from Richmond, the lex insaid, it
just amazes me.
Speaker 2 (29:59):
You know.
Speaker 1 (29:59):
I mean we'll get in the left lane, but generally
I'm not waiting behind anybody. I'm rolling on. Tim kind
of like you, you know, you like to get up
there and cut your own path and get it going on. Well,
you know, these drivers are just you know, break neck
and weaving one lane of the other. I just kind
of back off a little bit, find my zone and
you know, speed up is and not try to force
(30:20):
the speed on the traffic, but let the speed come
to me.
Speaker 2 (30:24):
But some of those out there, they're just speed speech speed.
Speaker 3 (30:27):
Yeah, we get through, yeah, and sometimes even allow somebody
to get into the right hand lane.
Speaker 2 (30:33):
And there they are right on you know.
Speaker 1 (30:36):
Yeah. Well, I mean it's you know, everybody's got their
own philosophy. I like to try to stay away from everybody.
So I'll try to create a path and get away
from big, big crowds, and I try to You know,
what gets me is how many people driving the blind
spot of these eighteen wheelers driver around that left for
your tire driver can't see them. Nobody knows that there,
and then wheels do blow up and they do come off,
but people will sit right there riding that blind spot
like it. I'm just like, what are you thinking. I mean,
(30:58):
it's just it's one of the most danger jobs in
the world over the road, trucking.
Speaker 2 (31:02):
But I mean those you know, just amazes me what people.
Speaker 1 (31:07):
Out you know, how it comes through. But anyway, just
be safe this weekend, you know, get get where you
got to go and uh, just have a plan. I
guess just you know, keep paying attention to what's going
on around you, have a good time, and we're excited.
We appreciate everybody. We want to wish every very happy
New Year. That's you know, been a part of our
family for many years, and in twenty twenty five, we
(31:27):
hope to continue to grow it and keep things going.
Tim and I were just talking about fees and some
of the changes that have happened over the years in
this mortgage market and what they may or may not
do and how they affect us, and and we just
are appreciative of the business that we're still allowed to
do right here. Be local, by local, stay local. That's
(31:49):
what we say, and that's what you're going to do here.
Give us a call here eight five nine, eight nine
nine one nine pre six. Don't go online and fuill
out any of that because they're going to hook you
up with somebody out of Cincinnati, and it takes us
right out to the loop on being able to work
with you, and they're gonna get the same deal. I'm
not gonna say you're not well. We want you to
deal local.
Speaker 2 (32:05):
Come see this at the bank, Come see us at
South and come see.
Speaker 1 (32:08):
This at Hamburg. You know, puts some names and faces together.
We do a lot of stuff online. I get it.
You know, it's convenience, it's time saving, so on and
so forth. But you know, to give us a call,
we'll take an application over the phone. You are you
know we're gonna deal with local people, local closers, local appraisers,
local everything. You know, we live here. You're gonna see
us out and about.
Speaker 2 (32:29):
Or you can get online and talk to somebody that
you never know, never see and never run into, you know.
Speaker 1 (32:35):
If that's what ails you. I mean, but you know
we'll we can. We're as competitive as there is a
bank in the country. I can promise you. So at
least give us an opportunity. Make your three phone calls,
make us one of them, and we'll you'll give you
something to look at, and then you can compare apples
to apples hopefully, and we'll be in business. But we've
said that for many years. Can I like to tell people,
(32:55):
ain't go ahead and get you a couple of references.
Call these people. There are best competition, So who's got
the best deal? I ain't afraid, you know, And and
I Ain't you know how many times, Tim, have you
had somebody send you something that they got from somebody
else and you say, well, this is what we got,
we send the mars and all of a sudden that
could be matched. You know, we watched that go on
(33:15):
for years. We got about another minute here to talk.
But I mean, don't let that happen to you in
twenty twenty five.
Speaker 2 (33:20):
Let us get you something.
Speaker 1 (33:21):
We can't control what happens with the rates until we
can lock something for you, but we're going to give
you the best rate in the first shot deal. You know,
I don't know.
Speaker 2 (33:30):
We had people coming back to us going this, another
leaper's got this. You match it very often, does it?
Speaker 1 (33:35):
Tim?
Speaker 2 (33:36):
No, We're going to be right in the game. And
you know it's our costs.
Speaker 3 (33:40):
You know our costs are you know we eliminate lenders
title insurance.
Speaker 2 (33:44):
You can't say that often. That's uh, that's a.
Speaker 3 (33:47):
Health help healthy fee to pay it closing and we
don't require period so.
Speaker 2 (33:53):
Service the loans.
Speaker 1 (33:54):
Right.
Speaker 3 (33:55):
So that's a I think that's one of our biggest
that's the biggest plus I've done with us, is a
our closing costs B We service your loan What needs
more to be said that you can you know, if
you're s growing and you need to help with understanding
why you're s growing up and how you can deal
(34:17):
with it.
Speaker 2 (34:18):
I mean, there's just so many things that you can
deal with. It's not complicated. You talk to people. You
don't have to go through Prompts.
Speaker 3 (34:26):
One too, you know, and talk to somebody, Peggy, we're
in work quebecas man or whatever. So we talked about
that and made a lot of that. You don't talk
to people. We don't have a foreign entity in our
mortgage world, so you talk to real people in loan servicing.
And that's just where I think we set ourselves apart.
Speaker 1 (34:45):
Yeah, Hey, we hope our bad has a happy new Year.
We appreciate you tuning into us. Enjoy us in NFL
games today. We'll see how the rest of these Bowl
games turn out. Between now our next show. Happy new year,
everybody you've been listening Welcome Home Show by Guardian Savey's
bankel today from nine to one, number eighty five, nine
eight ninety nine one, nine thirty six.
Speaker 2 (35:01):
We're staying alive in twenty five. Baby, let's get it done.
Speaker 1 (35:04):
Tim, you can Listen to Welcome Home Show by Guardian
Savings Bank on News Radio six thirty w LAP Happy
Never Year,
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