The Scott Phippen Team

We’ve Moved Back!

Scott Phippen — Thu, 04 Mar 2010 16:35:36 +0000

Well we want to let everyone know that We’ve Moved Back! We’ve finally updated our original site and our temporary home is needed no longer. Please find us back at:

www.scottphippen.com

What’s in store for Mortgage Rates?

Scott Phippen — Wed, 20 Jan 2010 16:42:41 +0000

I can’t think of an easier year to predict the direction of interest rates than 2010. It is safe to say that mortgage rates will be higher this year than they were in 2009. Unfortunately for homeowners and the real estate markets, the days of a 4.5% 30 year fixed rate mortgage cannot last forever.

In November of 2008, the Federal Reserve allocated $1.25 trillion towards the purchase of Mortgage Backed Securities. As of January 15, 2010, $1.137 trillion of this budgeted amount has been spent. By March 31, 2010, the entire $1.25 trillion is scheduled to be depleted. Once the Fed steps out of the market, the likelihood of higher rates is probable.

Mortgage rates would have been about 1% higher had the Fed not intervened and purchased Mortgage Backed Securities. On a $200,000 mortgage, it would cost approximately $8,000 to buy down the interest rate by 1%. Essentially, the Fed has paid to buy down the interest rate by 1% for each person who has closed a mortgage since the program began. For those who also qualify for the Federal tax credit offered for purchasing a home, a homebuyer borrowing $200,000 will have a total gain of $13,500 – $16,000!

While inflation does not appear to be a major concern right now, the fear is that the massive amount of money the government is injecting into the economy will eventually lead to higher rates of inflation. Inflation is the arch enemy to bonds, and leads to higher mortgage rates. Given that the government has spent literally trillions of dollars stimulating our economy, they may be slow to increase the Fed Funds Rate to counter the growth of inflation. Once inflation takes hold, it can be difficult to contain. This would lead to aggressive interest rate hikes by the Fed to attempt to keep it at bay.

As interest rates move higher in 2010, there will be times when rates are more favorable than others. Mortgage interest rates do not move in a straight line. Therefore, although the trend will be for higher rates, there will still be opportunities to secure lower rates along the way. Given that extremely low rates are still available, right now is an excellent time for a mortgage review. Call my office to arrange a fifteen minute phone call so that we can review your situation and see if there are opportunities to save money. If you are considering purchasing a home, you may want to act soon before the tax incentives expire and mortgage rates increase much higher.

Merry Christmas

Scott Phippen — Thu, 24 Dec 2009 18:19:20 +0000

Wishing You all a very Merry Christmas. May you enjoy the holiday in the warmth of family and friends. May the spirit of the season find you well.

The Scott Phippen Lending Team

All Because of YOU

Scott Phippen — Wed, 25 Nov 2009 22:27:40 +0000

My staff and I would like to express our gratitude and thanks to all of YOU who donated to our food drive. It truly was a wonderful success. We collected over $2000 worth of food and fed a total of 42 families. We couldn’t have done it without your help!

My staff and I had the humbling opportunity to deliver each of these meals to families and houses desperately in need this Thanksgiving. Due to your generous donations we were able to put food on tables that would’ve been bare or replaced mac n’cheese with a Thanksgiving Feast. Truly hearts were touched both in and outside each household. We would like to pass along the heartfelt tears of gratitude from each of these families back to YOU. We only wish we could fully express the feelings and emotions we experienced with each of these families.

May we once again say Thank You to all who donated and experienced the gift of giving this holiday season. We wish you all a happy and safe Thanksgiving and we hope the holiday finds you in the company of family and close friends.

Happy Thanksgiving from The Scott Phippen Team

Final Week To Donate

Scott Phippen — Mon, 16 Nov 2009 23:12:21 +0000

We want to express our gratitude and thanks to everyone who joined us Saturday morning for breakfast and to donate to our food drive. We really appreciate all those who came out and supported us. We’d also like to say Thank You to all of you who have donated to our food drive. For those of you who haven’t had a chance to donate, THERE STILL IS TIME! We’ll be taking donations until Friday. Below is a small list of items we still need to feed our families in need. Feel free to bring your donations by our office Mon-Fri. 8am to 5pm. Once again Thank You so much for helping reach out to those in need. Tis the season!

Items still needed:

Turkeys (or gift cards for turkeys)
Gravy Mix
Cream of Mushroom (canned)
French Onions (canned)
Mini Marshmallows
Frozen Pie

Questions regarding the Food Drive feel free to call us at 801-501-7950, ask for Brad or Jodi.

Don’t Forget – FOOD DRIVE!

Scott Phippen — Tue, 10 Nov 2009 16:58:50 +0000

Thanksgiving Food Drive – This Saturday Nov. 14th

This Saturday we will be collecting items for our Thanksgiving Food Drive. Come drop by City Creek Mortgage between 8am -11am. We will be serving a FREE Breakfast for all those who come and donate as our way of saying THANK YOU for helping those in need this holiday season.

Don’t Forget! Put it on your calender and we will see you Saturday morning!

For Details on FOOD ITEMS that we are requesting click on the turkey below!

Click on Me for Food Items Needed!

Just think – What if you were in need?

Thank You for Coming!

Scott Phippen — Mon, 19 Oct 2009 19:13:12 +0000

We would like to thank everyone who came out to the Pumpkin Patch on Saturday. We had a great time and it was great to see everyone again. We appreciate all of our clients and understand that we wouldn’t be where we are today without your continued support. Please let us know if there is anything we can do to assist YOU, your family, friends and co-workers. Thank you once again!

TO VIEW MORE PHOTOS…CLICK HERE!

Experience the Gift of Giving

Scott Phippen — Fri, 09 Oct 2009 21:11:55 +0000

Click here for more information and details.

Scott’s Pumpkin Patch Picking

Scott Phippen — Tue, 06 Oct 2009 20:24:09 +0000

Don’t miss out on Scott’s Pumpkin Patch Picking!

For Details and Directions click on the pumpkin above.

We look forward to seeing you at the Pumpkin Patch!

Thanksgiving Food Drive

Scott Phippen — Wed, 30 Sep 2009 18:06:35 +0000

This Thanksgiving we want to provide meals for at least 50 needy families. We need your help in meeting our goal. We have listed the items we need to collect to feed our families on the Thanksgiving Food Drive page, or you can get there by clicking on the Turkey below.

Click on ME!

Just think – What if YOU were in NEED?