Lower Rates? Don’t Relax Just Yet

 Over the past few days, mortgage rates have remained relatively steady—but don’t let the calm fool you. Here's what happened over the past three business days and why this quiet might not last much longer.

Monday, August 18th
Mortgage rates began the week at some of the highest levels we’ve seen in August, though still well below the peaks of the past 10 months. The difference between recent highs and lows has been very small, meaning rates are holding a tight range near 10-month lows. The start of the week was light on economic data, and market watchers weren’t expecting much movement unless a surprise headline hit. Even the upcoming Fed event in Jackson Hole wasn’t expected to shake things up like a jobs or inflation report might.

Tuesday, August 19th
Average 30-year fixed rates hovered around 6.59% for the average 30-year fixed loan. That’s just slightly higher than where they were last week. Despite some volatility in Treasury yields, mortgage rates barely budged—typical for this time of year. August tends to be a quieter month in the bond market. Without a major catalyst, the market is simply waiting for more impactful data to come later this week.

Wednesday, August 20th
Rates inched a bit higher again today, now averaging around 6.61%. Most of this increase happened gradually over the past several days. For context, that’s about $400 more in points per $100,000 borrowed than you would’ve paid last week. The Federal Reserve minutes were released this afternoon, but they didn’t contain any major surprises. The Fed is still more focused on inflation than jobs, and it’s clear that unless job market data weakens significantly, rate relief could take longer than buyers might hope.

Bottom Line:
Mortgage rates are holding steady near 10-month lows, but they’re creeping slightly higher as the market waits for new data. If you’re considering buying or refinancing, now is a good time to review your options while rates remain relatively favorable.

Have Questions or Want to Talk Through Your Options?
Whether you're planning to buy, refinance, or just want clarity on what today’s rates mean for you, I’m here to help.
Simply fill out the contact form on this page or give me a call—I’d be happy to walk you through your next steps.

#MortgageRates #HousingMarketUpdate #HomeBuyingTips #RefinanceOptions #InterestRateNews #RealEstate2025 #MortgageTrends #WeeklyRateUpdate

Source: Mortgage News Daily

Joe Costa and The Park Place Collective Group

402 West Broadway Suite 400

San Diego, CA 92130

619-990-7552

Finding the Right Mortgage Partner

 

Buying, selling, or refinancing a home moves fast—and the right mortgage partner should move faster. After 30+ years in the business, I’ve learned that success comes down to three things: clear guidance, creative problem-solving, and quick decisions. That’s the service standard I bring to every client and every real estate partner.

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By Joe Costa, Park Place Collective

What Sets Me Apart

• Sharper pricing, fewer layers. As the owner, I control my model—so you get competitive pricing without the red tape.

• Direct access. Call or text me. You won’t get routed through a maze to get an answer.

• Creative solutions. From self-employed income to complex assets, I structure deals that fit real-life scenarios.

• Consistency under pressure. Tight timelines, tricky titles, or appraisal surprises—I’ve seen it all and keep files moving.

For Real Estate Partners: Win More, Close Smoother

Faster answers = stronger offers.

Need numbers mid-showing or a same-day pre-approval? I turn scenarios quickly so you can write confident offers.

Certainty of close.

Upfront reviews, realistic timelines, and proactive condition clearing keep your transaction on track.

Programs that unlock deals.

Conventional, jumbo, bridge loans, reverse, and portfolio options like income stacking, asset depletion, and pledged-asset strategies—built to meet clients where they are.

Communication your clients feel.
Weekly updates (or more often if needed), plain-English explanations, and calm guidance that reflects well on your brand.

Result: Happier clients, fewer fall-outs, and a partner who helps you convert more buyers.

For Homebuyers & Homeowners: Clarity, Options, Confidence

Buying a home?

I help you understand exactly what you qualify for, what it costs, and how to position your offer—all before you fall in love with a home.

Refinancing?

We’ll look at the whole picture: lowering your payment, consolidating higher-interest debt, shortening your term, or accessing equity for renovations or investments. If it doesn’t benefit you, I’ll say so.

Self-employed or complex income?
No problem. I’m fluent in tax returns, K-1s, RSUs/bonus income, rental schedules, and bank-statement/asset-based options.

Less stress, more momentum.
I translate guidelines into plain English and keep you informed so there are no last-minute surprises.

How I Work (Simple, Fast, Thorough)

1. Quick consult (10–15 minutes). Tell me your goal—buy, sell/bridge, or refinance.

2. Smart review. I collect a few key documents and run multiple scenarios side-by-side.

3. Clear plan. I’ll explain your best options, cost breakdowns, and timeline—and we move.

Real-World Examples (Hypothetical, for illustration)

• Buyer Advantage: Tight multiple-offer situation. We issued a strong, fully reviewed pre-approval and provided fast verification—helping the agent win without overbidding.

• Refi Relief: Homeowner with solid equity but higher rate. We structured a refinance that reduced the monthly payment and aligned the payoff with long-term goals.

• Complex Income: Self-employed buyer with seasonal cash flow. We used a bank-statement program combined with asset calculations to qualify comfortably.

FAQs

How fast can you turn a pre-approval?
Often same day with clean documents. Purchase timelines depend on property and appraisal, but speed is a priority from start to finish.

Are your rates competitive with big banks?
Yes. My owner-operated model keeps pricing sharp, and you get direct service on top of it.

When does a refinance make sense?
When it supports your goals—lowering payment, consolidating higher-interest debt, shortening the term, or tapping equity with a clear plan. We’ll do a side-by-side to see if it pencils.

What if my file isn’t “cookie-cutter”?
That’s where I shine—creative structuring within guidelines, explained in plain English so you can decide confidently.

Ready to Talk?

• Agents: Need fast numbers or a second look on a tough file? I’m a text away.

• Clients: Curious about buying or whether a refi makes sense? Let’s run the numbers together.

Joe Costa | Park Place Collective
Direct access. Clear strategy. Quick decisions.

619-990-7552

info@parkplacecollective.com

www.parkplacecollective.com

Game-Changer: Credit Scores Just Got Rewritten

 If you’re considering buying a home, your credit score plays a key role in qualifying for a mortgage—and even determines your interest rate. Recently, a big change was announced by the Federal Housing Finance Agency (FHFA) that could affect how lenders evaluate creditworthiness.

What’s Happening?
FHFA has approved the use of a new credit scoring model: VantageScore 4.0. This is being allowed alongside the current model known as Classic FICO, giving lenders more options when assessing borrowers.

There’s also a third model—FICO 10T—that was approved back in 2022 but is not yet being rolled out. This delay is causing tension in the industry.

Why Does It Matter?
Each credit scoring model weighs your credit history differently. For example:

• VantageScore 4.0 can generate scores for people with as little as one month of credit history.

• FICO 10T includes “trended data,” which tracks how you manage debt over time.

• Classic FICO is more limited and doesn’t factor in things like rent or utility payment history.

FICO argues that their new model (10T) is far superior, especially for accurately predicting defaults, and that it would allow more people to qualify with better rates. However, VantageScore supporters say it expands access to credit for people who might otherwise be invisible in the system.

How Could This Impact You?
If you're:

• A first-time homebuyer with limited credit,

• Someone who pays rent on time but doesn’t use credit cards often,

• Or just unsure how your credit profile will be evaluated...

...this shift could work in your favor.

But here’s the catch:
Lenders now have a choice between different models, and that means your loan approval—or the rate you’re offered—could vary depending on which score they use.

Bottom Line:
Navigating these updates is complex, but the opportunity is real. With the right guidance, you could qualify for more favorable mortgage terms than you thought possible.

Don’t rely on generic internet credit scores. Talk to a mortgage professional who understands how these new changes apply to your unique financial profile.

Source: National Mortgage News

About Us

• Joe Costa and The Park Place Collective Team are here to help service your needs with our Suite of Services.

  Company NMLS: 2571108

  Personal NMLS: 113396

  
  

  NMLS Consumer Access

Contact Us

• 402 West Broadway Suite 400
  San Diego, CA 92101
  Phone: (619) 990-7552
  info@parkplacecollective.com

Disclaimers

• Legal
• Privacy Policy
• Accessibility Statement
• Site M

Housing Market Confusing? Here’s Why You’re Hearing Mixed Messages

As we move into the second half of 2025, many homebuyers are wondering… what exactly is going on with the housing market?

Some headlines say the market is heating up. Others claim it’s slowing down. Both seem true—and here’s why.

Two Housing Markets Are Happening at Once

Right now, we’re seeing a “Tale of Two Housing Markets”:

1. Demand Is Growing
   More people are trying to buy homes. Lower mortgage rates over the past few weeks have brought more buyers back into the market.

2. Inventory Is Still Tight
   Even though more listings have popped up recently, it’s still not enough. The number of homes for sale is far below what’s needed to meet buyer demand.

What Does This Mean for Homebuyers?

You might be seeing homes go under contract quickly—or sitting longer than expected. You might notice price drops in one area and bidding wars in another. That’s because market conditions vary greatly by city, neighborhood, and even price point.

Some homes (especially updated or move-in ready ones) are flying off the market. Others are lingering, especially if they’re overpriced or in less competitive areas.

The Takeaway

If you’re feeling confused about the housing market, you’re not alone. The key is to focus on your local market—not national headlines.

A knowledgeable loan officer and real estate agent can help you cut through the noise and guide you with accurate, neighborhood-specific data.

Now may be a smart time to buy—especially with mortgage rates still near recent lows—but success depends on having the right strategy.

#HousingMarket2025 #HomeBuyingTips #RealEstateTrends #LowInventory #BuyerDemand #MortgageAdvice #LocalMarketMatters #TaleOfTwoMarkets

Source: Keeping Current Matters

Homebuyers Privacy Protection Act: A Major Victory for Every Homebuyer

By Joe Costa | Park Place Collective – Mortgage | Real Estate | Life Insurance Protection

On August 2, 2025, the U.S. Senate passed the Homebuyers Privacy Protection Act, widely known as the Trigger Leads Bill. This landmark legislation is a major win for homebuyers, mortgage brokers, and the entire housing market, as it prioritizes consumer privacy and security during the mortgage process.

What Are Trigger Leads?

When a homebuyer applies for a mortgage, a credit inquiry is triggered. In the past, credit bureaus could sell that borrower’s information to other lenders, creating what’s known as a trigger lead.

While intended to give consumers more choices, trigger leads often resulted in:

• Unwanted calls, emails, and texts from competing lenders

• Confusion during the homebuying process

• Erosion of consumer trust in the mortgage industry

For homebuyers, this was frustrating and stressful—especially during one of the biggest financial decisions of their lives.

Why the Homebuyers Privacy Protection Act Matters

The Homebuyers Privacy Protection Act—championed by a bipartisan group of Senators and Representatives—prohibits the misuse of consumer data from mortgage credit inquiries.

Here’s why this legislation is a game-changer:

• Protects personal financial information from being sold

• Reduces aggressive and confusing marketing during the mortgage process

• Creates a more private, secure, and stress-free home loan experience

• Rebuilds consumer trust in the mortgage industry

Simply put, this law ensures that when you apply for a home loan, your personal data remains private, and you can focus on achieving homeownership without unnecessary distractions.

What This Means for Homebuyers and Partners

At Park Place Collective, we believe this legislation represents a new era of mortgage transparency. By eliminating the risk of trigger leads, our clients can expect a clearer, safer, and more personalized mortgage experience.

Whether you’re a first-time homebuyer, a real estate partner, or a future client looking for the best mortgage solution, this change will protect your journey and give you peace of mind.

For information on trigger leads or any of our products contact us info@parkplacecollective.com 

With Mortgage Rates and 10 month lows, Park Place Collective has an opportunity to add this reduction with a pricing incentive

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Mortgage Rates Hit 10-Month Lows — Here’s Why That Matters for You

Author: Joe Costa | Park Place Collective

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Mortgage Rates Are Near 10-Month Lows 

If you've been waiting for the right time to buy a home, refinance, or invest in real estate, this could be the window you’ve been waiting for. After the release of early August’s jobs report and some mixed inflation data, mortgage rates have dropped to their lowest levels in nearly 10 months.

But that’s just part of the story...

At Park Place Collective, we’re going even further by offering a .90% pricing incentive on select mortgage programs — creating an opportunity for even greater savings.

Why This Market Shift Matters

When mortgage rates drop, your buying power increases. Whether you're purchasing your first home or refinancing an existing mortgage, even a small drop in rates can save you hundreds per month — and tens of thousands over the life of the loan.

Right now, we’re seeing:

✅ Lower rates = Lower monthly payments
✅ Increased affordability for buyers
✅ Higher net returns for investors
✅ Refinance opportunities with real savings

What We’re Doing to Help You Save

At Park Place Collective, we’re combining low market rates with a special .90% pricing credit, making this a unique opportunity to lock in savings.

This applies to a range of loan types — from purchases to refinances — and can make a meaningful difference to your monthly cash flow.

Don’t Wait — The Window May Be Short

Markets shift quickly. If the Fed changes course or new economic data emerges, we could see rates rise again. Taking action now means putting yourself in a stronger financial position.

💬 Want to explore your options?
📩 Contact us or click the link below to connect and get a personalized quote.

Book a Call

info@parkplacecollective.com

About Joe Costa & Park Place Collective
Joe Costa has been helping families, investors, and first-time buyers navigate mortgage financing since 1991. At Park Place Collective, we combine experience, strategy, and real-time market insights to help you make confident, informed decisions.

Park Place Collective NMLS: 2571108

Joe Costa NMLS: 113396

www.parkplacecollective.com 

Local Legends Spotlight

 Celebrating our community, one business at a time.

Each month, Park Place Collective features a standout local business to our audience—and gives that partner a turnkey marketing kit to share with theirs. It’s free, simple, and built to grow awareness and customers for everyone involved.

What is Local Legends Spotlight?

A no-cost, monthly cross-promotion where we:

• Feature one local business across our email newsletter and social channels
• Create and deliver a ready-to-use marketing kit for the partner to share on their channels
• Drive organic exposure and conversions for both brands—without extra work

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How It Works (Simple & Seamless)

1) Apply (2 minutes).
Submit the short form below with your logo, a few photos, and highlights.

2) We Create Everything.
Our team writes your feature, designs the social/email assets, and sets your spotlight date.

3) Go Live Together.
We publish your feature to our audience and send you the ready-to-post kit for yours.
That’s it—zero design or copywriting on your end.

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Why Join?

• $0 Cost — professional promotion at no charge
• Turnkey — we handle the strategy, copy, and design
• Audience Growth — reach our community while engaging yours
• Credibility & Trust — be featured by a respected, service-driven local brand
• Evergreen Assets — reuse your graphics and copy anytime

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What You Get (Your Partner Kit)

• Email Feature Copy (drop-in text for your newsletter)
• Social Media Posts (square + story captions and images)
• Story Graphics (IG/FB stories, Reels cover)
• Website Blurb (about 75–100 words)
• Optional: 30–60s interview questions for a quick Reel

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Eligibility

We prioritize locally owned or locally managed businesses that:

• Serve our community with integrity and great customer experience
• Provide clear benefits, offers, or value to local families and professionals
• Can share the collaboration on their email and social channels

(If you’re not sure you qualify, apply anyway—we’re friendly!)

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Spotlight Schedule

We feature one business per month to keep the series curated and special.
If selected, we’ll confirm your month and send your kit 2 weeks before go-live.

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Example Feature (What Yours Might Look Like)

Local Legends Spotlight: [Business Name]
[Business Name] is our go-to for [category: coffee, fitness, salon, retail, services]. We love them for:

• [Highlight #1: signature product/service]
• [Highlight #2: standout experience or guarantee]
• [Highlight #3: community impact or story]
  Exclusive Perk for Our Community: [Offer/bonus if provided]
  📍 [Address] | 🌐 [Website] | 📱 @[InstagramHandle]

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Apply to Be Featured

Business Info

• Business name
• Contact name + role
• Email + phone
• Website
• Social handles (Instagram, Facebook, LinkedIn, TikTok)

Brand Assets

• Logo (PNG preferred)
• 3–5 photos (storefront, product/service, team)

Highlights

• 2–4 bullet points that make you unique
• Optional: a time-bound offer for our audiences

Consent

• “I agree to be featured by Park Place Collective and allow submitted content to be shared across email and social media.”

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What Happens After You Apply?

• You’ll receive a confirmation email with next steps
• If selected, we’ll confirm your month and send a short, editable draft for approval
• You get your full Partner Kit 2 weeks before your live date

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FAQs

Is this really free?
Yes. This is our way of investing back into the community we serve.

What’s expected of my business?
Share your feature to your audience during the same week we go live (we’ll give you everything to copy-paste).

How far in advance are features scheduled?
Typically 1–3 months out. Submit early to secure your preferred month.

Can I be featured more than once?
Possibly—depending on demand and seasonality.

Do I have to offer a discount?
No, but an exclusive perk can boost engagement.

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About Park Place Collective

We’re a service-first team providing Mortgage, Real Estate, Reverse Mortgages, and Life Insurance Protection.
Husband-and-wife team Joe & Marni Costa lead Park Place Collective with a simple promise: be proactive, transparent, and relentlessly helpful.

Contact
Park Place Collective
Joe Costa, NMLS: 113396 • Park Place Collective NMLS: 2571108
Office: 619-990-7552 • Cell: 646-245-7856
jcosta@parkplacefg.com

The Benefits of USDA Loans

At Park Place Collective, we are committed to helping individuals and families achieve their dream of homeownership. One powerful financing option that often goes overlooked is the USDA loan. Backed by the U.S. Department of Agriculture, USDA loans are designed to make buying a home in rural and eligible suburban areas more affordable and accessible for low- and moderate-income borrowers.

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Written by Joe Costa from Park Place Collective

If you’re considering purchasing a home and want to explore options beyond traditional financing, here’s why USDA loans might be the perfect solution:

1. No Down Payment Required

One of the most appealing benefits of USDA home loans is 100% financing. This means qualified borrowers can purchase a home with no down payment, unlike conventional loans that often require 3% to 20% upfront. For many first-time buyers, this makes homeownership possible without years of saving.

2. Competitive Interest Rates

According to Freedom Mortgage, USDA loans often feature competitive interest rates, sometimes lower than other loan programs. A lower rate translates to smaller monthly payments and potentially thousands in long-term savings over the life of the loan.

3. Flexible Credit Guidelines

USDA loans are ideal for buyers with limited credit history or less-than-perfect scores. Some lenders approve borrowers with credit scores as low as 640, and in certain cases, even slightly lower. This flexibility opens the door for more families to qualify for a mortgage.

4. No Private Mortgage Insurance (PMI)

Unlike conventional loans requiring PMI for low-down-payment borrowers, USDA loans do not require private mortgage insurance. Instead, borrowers pay a low upfront guarantee fee (typically 1%) and a small annual fee (0.35% of the remaining balance), helping reduce overall monthly costs.

5. No Prepayment Penalty

Want to pay off your mortgage faster? USDA loans allow you to make extra payments or pay off your loan early without any penalties. This flexibility can save borrowers thousands in interest over time.

6. Lower Guarantee Fees

Compared to FHA loans, USDA loans often have lower upfront and annual guarantee fees, offering more affordable home financing for eligible buyers.

7. Closing Costs Can Be Rolled Into the Loan

In some cases, USDA loans allow borrowers to finance closing costs as part of the loan, minimizing out-of-pocket expenses at closing.

Who Qualifies for a USDA Loan?

USDA loans are available to buyers in eligible rural and suburban areas who meet income limits set by the USDA. They are not just for farmers—many suburban neighborhoods qualify, making this an excellent option for first-time homebuyers.

For farmers and ranchers, the USDA also offers specialized farm ownership and operating loans to help with land purchases, equipment, and family living expenses.

Why Work With Park Place Collective?

At Park Place Collective, we specialize in helping buyers navigate USDA loans and other unique mortgage programs. Whether you’re a first-time buyer or looking for a rural property, we’ll guide you through the process to ensure you maximize the benefits of this powerful loan option.

If you’re ready to explore USDA home loan eligibility or want to learn more about no down payment mortgages, contact Joe Costa and Park Place Collective today to start your path to homeownership.

For information about USDA loans or any of our other products contact us info@parkplacecollective.com

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