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Sierra Pacific Mortgage Hires Mike Cass as a Regional Manager

Folsom, CA, Aug. 14, 2018 (GLOBE NEWSWIRE) -- Sierra Pacific Mortgage Company, Inc., one of the nation’s top ten private mortgage lenders, is pleased to announce that Mike Cass has joined the company as a Regional Manager. Based out of Minneapolis, Minnesota, Mr. Cass will oversee the company’s retail sales teams in the northern, midwestern states.   

Mike has been in the mortgage industry since 1987 and has held varying roles throughout the Midwest.  Most recently, he served as the President of Results Mortgage. To Sierra Pacific Mortgage, Mike brings industry knowledge, experience, and the regional network to help Sierra Pacific Mortgage further expand their presence throughout the Midwest.  

“I joined Sierra Pacific Mortgage because they are best positioned for the years ahead and have a track record of consistent leadership for the last 33 years. Their tagline ‘Promises Made. Promises Kept’ says it all.” Mr. Cass said. “Financially, they are strong and independent and have a national presence. Additionally, being a direct lender to Fannie, Freddie and Ginnie means more programs and products to offer my clients with better control over pricing, guidelines, and service!

Mortgage rates reach highest level in nearly two months

Mortgage rates continued their upward march this week.

According to the latest data released Thursday by Freddie Mac, the 30-year fixed-rate average climbed to 4.6 percent with an average 0.4 point, its highest level in nearly two months. (Points are fees paid to a lender equal to 1 percent of the loan amount.) It was 4.54 percent a week ago and 3.93 percent a year ago.

The 15-year fixed-rate average grew to 4.08 percent with an average 0.4 point. It was 4.02 percent a week ago and 3.18 percent a year ago. The five-year adjustable rate average rose to 3.93 percent with an average 0.2 point. It was 3.87 percent a week ago and 3.15 percent a year ago.

“Mortgage rates trended higher over the past week as President Trump and European Commission President [Jean-Claude] Juncker agreed to avert a trade war toward the end of the week, easing some of the trade tensions that had been putting downward pressure on rates,” said Aaron Terrazas, senior economist at Zillow . “Strong Q2 GDP data released on Friday also contributed to the trend, but strong data were largely expected and already priced in to rates. The strength of the economy was reinforced in Wednesday’s [Federal Open Market Committee] statement, solidifying expectations for future rate hikes this year.”

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