Jake Krabbe

NMLS# 877141

Mortgage Loan Officer

Jake Krabbe
Mortgage Loan Officer

NMLS# 877141
State Lic: AZ # 0920357;
15333 N. Pima Road
Suite 205
Scottsdale, AZ 85260
Direct: (480) 442-9291
Fax: (480) 374-5216
Mobile: (480) 442-9291
jake.krabbe@academymortgage.com

Academy's My Mortgage App

Welcome to Academy Mortgage!

I'm available 24/7 for all of your mortgage needs. As a native Iowan, I base my career as a mortgage banker on customer service, hard work, and integrity. I moved to Arizona in the summer of 2010 and began my career with Academy in March 2012.

In my first year as a loan officer I was honored with the distinction of Rookie of the Year. I continued my dedication to the industry and was awarded to the Top Producers Club for 2013. With a Relatively short time in the business, I have emphasized helping families into new homes offering conventional, FHA, VA, and USDA loans. My focus on the customer experience has helped to grow my career and extend my network of realtors, home builders, title agencies, and over course satisfied home buyers.

Please don't hesitate to reach out to me with any questions regarding the mortgage process and I look forward to helping you find your next home.

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Brandon and Jake did a great job of getting everything completed for an early closing. Everyone was happy with the outcome. Annette Holmes - Realtor

NMLS# 877141

State Lic: AZ: 0920357;

Corp Lic: AZ: BK-0904081;

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Mortgage rates rise alongside employment opportunities

As job growth continues, interest rates of U.S. home mortgages have jumped up. This may signify that the housing market is strengthening along with the economy.

Mortgage rates see an uptick in February. Freddie Mac, a government-sponsored enterprise, released the Primary Mortgage Market Survey, and the results showed that fixed-rate mortgage rates rose. The average rate for a 30-year FRM was 3.69% for the week ending Feb. 12. This was up 0.10 percentage points week over week, and 15-year FRMs increased to 2.99% and was up 0.06 percentage points from the previous week.

However, individuals still have an opportunity to get a low mortgage rate. While interest rates are seeing their highest numbers this year, rates are still historically low. The current average interest rate for a 30-year FRM is 0.59 percentage points lower than the same time a year ago, when it was 4.28%. Last year at this time 15-year FRMs were also notably higher at 3.33%.

Job opportunities increased in January. The heightened interest rates reflect stronger employment opportunities. As the economy improves and the job market strengthens, the housing market can continue to recover from the 2008 housing crisis.

"The economy added 257,000 new jobs in January after robust increases of 329,000 in December and 423,000 in November," said Len Kiefer, deputy chief economist at Freddie Mac. "The unemployment rate edged up to 5.7% last month from 5.6% in December. Average hourly earnings rose 0.5%, following a 0.2% decline in December."

Jobs opportunities available in construction saw a notable increase in January

Construction industry sees continual job growth. A strengthening housing market may be responsible for the trend seen in the construction sector over the last 12 months. 

The National Association of Home Builders noted that continual job growth will encourage a heightened demand for housing. Consumers with steady jobs may become more confident in the housing market and decide to invest in real estate and help drive the demand for housing.

More employment opportunities and higher wages may stimulate construction activity to accommodate the needs of an increasing need for more real estate options.

Economy strengthens in 2015. In addition to job growth, Reuters reported that the U.S. economy is expected to improve substantially this year. Economists who participated in a Reuters poll anticipated 3.2% growth for gross domestic product in 2015.

"There may be a few ups and downs this year, but the economy's fundamentals are very strong and they are going to outweigh the issues from abroad. Three percent GDP (growth) is achievable," Ryan Sweet, senior economist at Moody's Analytics, told Reuters.

An increase in employment opportunities and more affordable energy and fuel are expected to increase consumer spending and continue to bolster the U.S. economy. 

The notable job growth and improving economic situation can encourage the improvement of the housing market in 2015. 

Academy Mortgage is one of the top independent purchase lenders in the country as ranked in the 2014 CoreLogic Marketrac Report. Visit www.academymortgage.com to find a loan, get a rate, or calculate your payment today.

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Foreclosures decrease in November 2014

The U.S. housing market continues driving down the road to recovery. It has seen an uptick in mortgage applications, a massive demographic of potential first-time homebuyers, an improving economy - and now the rate of foreclosures is consistently plunging. All factors signify a stronger housing market in 2015.

Foreclosures continued to decrease in November 2014. A press release from CoreLogic, a leading financial, property and consumer information and analytics company, indicated that nationally, foreclosure inventory decreased 35.5% compared to the previous year. A total of 41,000 completed foreclosures occurred during November 2014. Completed foreclosures consist of homes which are lost to the foreclosure process. When comparing this number to November 2013, the rate of completed foreclosures dropped 9.6%.

Normal foreclosure numbers average around 21,000 each month. The housing crisis in 2008 drove the intensive increase in national foreclosures. A total of 5.5 million completed foreclosures have occurred since the crisis.

In November 2013, 880,000 homes were in the process of foreclosing. This number plummeted to 567,000 in November 2014. In addition, that foreclosure inventory was at the lowest level since March 2008. 

CoreLogic reported the following states as having the lowest foreclosure inventory in November 2014: 

Improvement in the housing market is evident. U.S. News & World Report emphasized the correlation between employment expansion and the housing market. Applications for residential mortgages increase and a heightened demand for residential space intensifies as the economy improves and jobs become available for professionals entering the workforce. In addition, housing inventory may dwindle as certain regions experience a jump in population due to new jobs available in the area. 

The improving economic welfare of the nation will likely continue to feed housing and related endeavors, such as the construction sector and home-maintenance-related professionals. This, coupled with the decreasing rate of foreclosures, may improve the market. 

"The number of completed foreclosures over the past 12 months - just under 575,000 - are at the lowest level in seven years," said the president and CEO of CoreLogic, Anand Nallathambi. "This month's figure of 41,000 foreclosures is in line with levels experienced in the second half of 2007, which was the very beginning of the housing crisis."

Nallathambi noted the anticipation that nationwide, foreclosures will fall under 500,000 within the new year's first quarter. The progress signifies a continuously strengthening U.S. housing market.

November 2014 marked the 26th month in a row with double-digit drops year over year. Every single state in the nation reported double-digit numbers, indicating a decreasing number of completed foreclosures. However, the District of Columbia did not produce results that fell in line with the desired pattern. There, the rate of foreclosure activity increased 17.8% year over year.

Utah and Florida both saw the most impressive declines in foreclosure inventory. Utah saw a decrease of 48.8%, and Florida noted a 48.1% drop. CoreLogic indicated the other states with the largest year-over-year decrease in activity included Georgia, Arizona and Michigan. 

All the aforementioned states saw at least a 40% decrease in the total number of completed foreclosures. 

Academy Mortgage is one of the top independent purchase lenders in the country as ranked in the 2014 CoreLogic Marketrac Report. Visit www.academymortgage.com to find a loan, get a rate, or calculate your payment today.

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Housing market and strengthening economy are good news

Many home construction company gains occurred during periods of low U.S. home mortgage and other related rates. CNBC reported iShares Home Construction ETF saw a 7.6% average return, Masco averaged around an 8.4% gain, D.R. Horton reported an 8.7% average return, Lennar gained 10.1% and PulteGroup saw the highest average return of  14.8% during low rate and strong growth periods. 

Historical evidence for improvement of housing-market-related stocks. CNBC took a look at previous situations to determine a projection for the future of the housing market. In 1980, the 10-year Treasury yield dipped under 2.5%, and gross domestic product teetered above 2%. The result of these two numbers meeting instigated four quarters when home? builder stocks skyrocketed. This pattern could be mimicked in 2015.

Kiplinger, a business forecasting and finance advising company based out of the District of Columbia, reported GDP at 2% during the fourth quarter, MarketWatch noted that the current 10-year Treasury dropped to 2.19% Dec. 30. These conditions mimic those observed previously and lead economists to forecast a great year in 2015. 

Academy Mortgage is one of the top independent purchase lenders in the country as ranked in the 2013 CoreLogic Marketrac Report. Visit www.academymortgage.com to find a loan, get a rate, or calculate your payment today.

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