Weekly Update

July 11, 2025 - #511

Welcome to our Five Hundred and ELEVENTH update, which just so happens to be happening on July ELEVENTH, which makes it that much more of a special update, especially when it happens on 7/11, so go get your free Slurpee at participating locations.

We’re entering the back half of the year… time flies when you’re having fun… LITERALLY and we’re so very thankful for your referrals and business so far this year. We’re improved over last year at this time and are optimistic about the mortgage business for the rest of the year. Back at your house, if you need help don’t call the wrong folks and get an imposter, because we’ve got some GREAT people for you to talk to -- feel free to reach out with your questions about installing a security system, making small repairs, plumbing, insurance and more. This week, rates bounced around but generally ended up about where they started the results of which you can see just above the trivia question. Before you scroll down to the rates and trivia, as usual, there is LOTS GOING ON, SO LET’S GET STARTED!

CRAZY STORY

My son is usually up for a good Lebron v. Jordan debate to talk thru who we think is the “Greatest of All Time” when it comes to basketball, and things got pretty intense around the dinner table Wednesday Night (don’t care, Jordan is the Goat) so we wanted to definitively end the debate and include this story about GOATS challenging each other.

TOMORROW New York City will host one of the greatest competitive eating contests of all time, and Joey Chestnut and Takeru Kobayashi are nowhere to be seen. Well gang, that’s because the contenders in this game are actually goats. We're talking goats not G.O.A.Ts for this one. The Great Goat Graze-Off will happen this weekend pitting Kash, Rufus, Mallo-mar, Romeo, and Butterball against each other. While the contest will be emceed by George Shea, who is the same host of Nathan’s Hot Dog Eating Contest, the animals will have a less frantic pace of their eating, with no force feeding.

The are brought in by the Riverside Park Conservancy as a less environmentally impactful way to clear the steep hills and they’ve been doing so for the past 5 summers, rather than bringing in heavy equipment or loud yard equipment. But THIS is the first time that the Title of GOAT Grazer is up grabs. Click below to read more about the contest and the goat G. O. A. T. competitors.

(PS Jordan is the real GOAT)

WRONG TIME AND WRONG PLACE

While you do still have time to make it to see the goats, you JUST missed a chance to see Dinosaurs race in in Auburn. And while the phrase, “Dinosaurs in Auburn,” sounds like some guys my age or older, trying to rekindle their college frat band vibes, three weren’t real dinosaurs and they weren’t in the loveliest village either. 300 contestants donned T-Rex costumes and raced on the Emerald Downs Racetrack in Auburn, Washington and spoiler alert; Andrew Stuber was the winner. Gang, even though you weren’t out in Washington State for the fourth to see the festivities, rumor has it that it will be aired on ESPN 2 later this summer, before football season. Click below to read more and to watch the T-Rex racers.

While that last one wasn’t in the Auburn that you may know or love, this next one did take place in Birmingham, but also NOT the Birmingham you know and love. This one took place in Birmingham England and there was much celebrating and rejoicing among bats. That’s because after decades, tons of hit songs, an awesome reality show, and more than a few crazy bat incidents. Ozzy Osbourne announced his retirement. He marked the occasion by bringing the original lineup of Black Sabbath together on stage for the first time in 20 years not far from where the band got their start, back in 1968. According to the article linked below, Osbourne sang from a black throne and started out saying, “Let the madness begin!” …and later paid tribute to fans with,

“I don’t know what to say, man, I’ve been laid up for like six years. You have no idea how I feel — thank you from the bottom of my heart,” Osbourne said. “You’re all … special. Let’s go crazy, come on.”

Click below to get on that CRAZY TRAIN and read more! 

LOTTERY HANGING CHAD RECOUNT

We really cannot imagine the roller coaster of emotions this would have caused at our head story runner’s house. Check this one out.

Last week, THOUSANDS of Norwegians were accidently notified by the country’s national lottery, Norsk Tipping, that they’d won life-changing jackpots worth millions. This wasn’t some AWFUL prank, but it was an accounting error of epic proportions thanks to a silly decimal mix‑up where, instead of converting prize amounts from euro‑cents to Norwegian kroner correctly, a manual coding error increased all winnings by a factor of 100.

OF COURSE, recipients celebrated their sudden wealth. But their excitement was short-lived when they received retractions and apologies explaining the inflated figures were just a glitch. Norsk Tipping said it was deeply sorry and promised to reward the actual, much smaller prizes.

I. Can’t. Imagine. The ups and downs of winning an imaginary/accidentally lottery and it going away in a flash. The editors here at the Weekly Mortgage Update are committed to NOT committing any such typos. Click below to read more.

REAL ESTATE TO BEHOLD



We had a “THEME” of mistaken identities earlier in the update, or wrong place wrong time type scenarios and so we wanted that to carry over to the real estate to behold section. First up from your friends at Zillow Gone Wild, rather than Menlo Park, which is home Silicon Valley, our first house comes to you from Menlo, Georgia. This one-of-a-kind monolithic dome home sits on 24 acres of Lookout Mountain, complete with a spring-fed pond, private river swimming hole, and state-park-style rock formations. Inside, you’ll find sky-high ceilings, a rock fireplace, and a custom kitchen. With 2 beds, 2 baths, and over 2,200 square feet, this isn’t just a home, it’s your own private adventure basecamp listed at $599,900. Click below to see the full listing on Zillow.

On to another domed house, this next one's set high on a hilltop in Vista, California. With bold architecture, this striking geodesic dome home offers over 3,600 square feet of living space, 3 bedrooms, 3 baths, and panoramic views in every direction. The property spans 5+ acres of lush landscape, surrounded by fruit and avocado trees, creating a private retreat just 1.5 miles from the I-15. It’s got that “off-the-grid

retreat” feel without actually being off the grid. Listed at $1,100,000, this property is a unique opportunity in Southern California’s rolling hills. Click below to read more and see all the pictures on Zillow.

Finally, whether it’s Hitch’s house or Muhammad Ali, or really Will Smith himself... nothing gets jiggy with it quite like this amazing house. Will Smith’s Calabasas estate is less of a home and more of a kingdom, stretching across 150 acres, literally big enough to have its own ZIP code. The 25,000 sq ft Pueblo Revival-style mansion was designed in the late ’90s with Jada and their architect’s spiritual vision in mind. It features 9 bedrooms, a meditation room, private movie theater, recording studio, and a whole lounge just for awards - from above it looks like a mall!

Outside, you’ll find a private lake, gazebo, sports complex, sunken trampoline, a pool, and even a “puppy mansion.” The curved adobe roof is engraved with a Superman-style “S” and the entire property is packed with handcrafted finishes made by artisans from around the world. It’s not on the market- but it once was for $42 million. These days, it’s reportedly where Will escapes to reflect and recharge. Honestly, if you’re gonna go big… this is how you do it. Click below to see more.

THE ECONOMY AND REAL ESTATE

One of the big stories over the past few weeks was the Big Beautiful Bill and so we wanted to talk about a few homeowner, or borrower type things that are in there after President Trump signed it into law on July 4^th, 2025. While there aren’t any new grants to assist homebuyers are a few things to note. First, the mortgage insurance deduction was made permanent. Homebuyers using FHA, VA, USDA, or any of our other lower-down payment mortgages can now deduct premiums indefinitely (within income limits).

Also, the mortgage interest deduction which is capped at $750K, now stays permanent. And real estate investors could benefit from tax tools, such as the Qualified Business Income (QBI) deduction, interest write‑offs, continued use of 1031 exchanges, and capital gains rollovers into Opportunity Zones remaining intact.

Additionally, there are some enhancements to the Low-Income Housing Tax Credits (LIHTC) as well as a temporary SALT cap hike to up to $40,000 in high tax states from 2025-2029.

While the bill doesn’t introduce new homebuyer grants, it does lock in some key tax deductions. That being said, our editors would like to remind you to PLEASE consult with your tax professional as this section is NOT designed to be any form of tax advice from a free weekly mortgage update with stories about goats. Click below to read more. 

Our editors found about a Credit Change coming that could help more borrowers.

Fannie Mae and Freddie Mac announced that lenders can start to use a new credit scoring model called VantageScore 4.0, in addition to the old FICO scores. Why does this matter? VantageScore looks at your credit a little differently — it includes things like rent and utility payments, which COULD help more people qualify for a home loan. This move could open the door for EVEN MORE first-time buyers and folks with less credit histories. It’s part of a bigger push to make lending more accessible and reward consistent payments of non-traditional credit. Stay tuned — more updates are coming soon, and until then, click below to read more.

While we can do loans to help with renovations with almost VIRTUALLY any budget (that one would be tough for Comparable sales) we thought we’d close out with a story about the projects that can come thru with the best future return. So, we’re going to close this week with an article from our friends at Keeping Current Matters, titled, “Home Projects that Add the Most Value.” Keep reading below.

Some Highlights

• Whether you’re planning to move soon or not, you want to be strategic about which home projects you take on. ​Because not all of them will be worth it.
• Before you decide what upgrades to tackle, talk to an agent who knows what’s in demand in your area and where you’re most likely to recoup the costs.
• Let’s connect so you know which projects are actually worthwhile.​

RATES:

Pricing and rates remain erratic and volatile. Confirm rates & pricing directly with your loan officer.

Check out the trivia below and remember, there is a drawing to enter to win a gift card. This is your chance to enter for a chance to win the gift card awarded every other month. This trivia question is for the July and August drawing/card.

TRIVIA QUESTION

Since today is July Eleventh, or SEVEN ELEVEN, we thought a trivia question about the iconic convenience store would be appropriate today. 7-Eleven was originally called Tote’m and has been an iconic brand represented or rather renamed for movies and television such as the Kwik E Mart in the Simpsons, or "wheezing the Juice" at the Food Mart in Encino Man, or the Ulti-mart that met an unfortunate end in Grosse Pointe Blank, or the Quick Stop Groceries in Clerks (where Kevin Smith actually worked in New Jersey). Those are all mostly fictional stores but in ‘real life’ What country is home to the most 7-Eleven stores?

A) United States

B) Japan

C) Thailand

D) Canada

E) Mexico 

Click here to EMAIL ME YOUR ANSWER.

Have a great rest of the weekend. Stay safe out there. If you have any questions, please do not hesitate to call. You can contact me by email. Please, follow us on Facebook, Twitter, or LinkedIn. Thanks to many of you, we are continuing to expand our readership, so if you have a friend or client that you think may benefit from this newsletter, please feel free to forward it to them! If you got this from a friend, click here to sign up to receive it.