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Mortgage Rates & Economic Updates

By Ramon Gomez, Jr.
Jul 15, 2020

This week we will start our blog with the current conforming and jumbo mortgage rates for Utah as shared by Josh Mettle followed by the golfing options in Park City and few ideas for freshening up your home's curb appeal.

The Conforming rates are based on a $300 loan amount and 65% loan to value and the Jumbo rates are based on a $1,000,000 loan amount with a $1,250,000 purchase price.

Loan Type Interest Rate APR    
30-yr fixed Conforming 3.25% 3.378%
15-yr fixed Conforming 2.75% 2.981%
 
Loan Type Interest Rate APR    
7/1 ARM Jumbo 3.00% 3.096%
30-yr fixed Jumbo 3.125% 3.219%
15-yr fixed Jumbo 2.875% 3.045%
In more home news - CoreLogic released home appreciation figures for May, showing that prices rose 0.7% from April to May and 4.8% when compared to May of last year and inflation continues to remain tame. At the wholesale level, the Producer Price Index was down 0.2% in June after rebounding in May, coming in much lower than expectations.

CoreLogic also noted that a lot of the demand was pent up from spring to summer with elevated unemployment, and that purchase activity and home prices could fall off once summer ends. It remains to be seen if this latest forecast will prove true, or if the surge in sales and appreciation levels off less steeply, which could still allow for home price gains over the next year.

Now for golf - there is no shortage of golf courses in the Park City area to enjoy. The Park Record has put together a list of all the local golf courses - from public and municipal courses to private clubs there is something for everyone.

Park City Golf Club (public) 1541 Thaynes Canyon Drive, Park City 435-615-5800 18 holes, par 72 $24-$70 This scenic municipal course offers lessons, leagues and a pro shop. Reservations can be made seven days in advance.

Canyons Golf Course (public) 3636 Willow Draw, Park City 435-615-4728 18 holes, par 70 $30-$150 This course features more than 550 feet of elevation change, including 270 feet on Hole 10 from tee to green. Group and individual lessons available.

The Outlaw Golf Club (public) 990 Longview Drive, Hideout 435-901-4227 9 holes, par 30 Located in the eastern foothills of the Jordanelle Reservoir, at the Outlaw, players can enjoy views of the glistening waters of the Jordanelle and the towering mountain peaks.

Soldier Hollow Golf Course (public) 1370 Soldier Hollow Drive, Midway 435-654-7442 Silver Course: 18 holes, par 72 Gold Course: 18 holes, par 72 $40- $50 Silver is the tamer of the two courses, slightly shorter with wider fairways, while the Gold has narrower, more undulating fairways, tee shots requiring longer carry and trickier greens.

Wasatch Mountain Golf Course (public) 975 West Golf Course Drive, Midway 435-654-0532 Lake Course: 18 holes, par 72 Mountain Course: 18 holes, par 71 $45-$50 Wasatch Mountain’s two courses offer serious variety, from the Lake’s gentle terrain to the Mountain’s dramatic elevation changes and potential wildlife sightings.

Mountain Dell Golf Course (public) Interstate 80, Exit 134 in Parleys Canyon 801-582-3812 Lake Course: 18 holes, par 71 Canyon Course: 18 holes, par 72 $13- $58 This Salt Lake City-run municipal course offers a variety of affordable amenities, from lessons to play-until-sunset twilight rates.

Jeremy Ranch Golf & Country Club (private) 8770 Jeremy Ranch Road, Park City 801-531-9000 18 holes, par 72 Membership required Nestled in Upper East Canyon of the Wasatch Mountains, Jeremy Ranch is the only Arnold Palmer Signature Course in Utah.

Park Meadows Country Club (private) 2000 Meadows Drive, Park City 435-649-2460 18 holes, par 72 Membership required This Jack Nicklaus Signature course has been called one of the best courses in Utah and Park Record readers have selected its Hole 15 as the best in Park City multiple times.

Glenwild Golf Club (private) 7600 Glenwild Dr., Park City 435-615-9966 18 holes, par 71 Membership required This course features a meandering creek with a series of lakes and shot values that enhance its playability and scenic appeal.

Promontory (limited public availability) 8758 N Promontory Ranch Road, Park City 888-458-6600 Pete Dye Canyon Course: 18 holes, par 72 Nicholas Painted Valley Golf Course: 18 holes, par 72 Limited open play at Pete Dye Canyon Course, $100-$250 Membership required at Nicholas Painted Valley Golf Course Dye Canyon rewards accuracy and takes dramatic advantage of the rugged terrain, while the links-style Painted Valley rewards the ability to hit the ball an incredible distance.

Talisker Club, Talisker Tuhaye Course (private) 9875 N. Tuhaye Park Drive, Kamas 866-253-8538 18 holes, par 72 Membership required Tuhaye is set against spectacular long-range views of Mount Timpanogos, Deer Valley’s ski runs and the shimmering waters of the Jordanelle Reservoir.

Victory Ranch (private) 7474 Victory Club Drive, Kamas 435-785-5030 18 holes, par 72 Membership required The course features 400 feet of elevation change but of all the vistas on the course, the 360-degree panoramic view from the championship tee box on the 17th hole is the real jewel.

Red Ledges Golf Course (private) 205 Red Ledges Blvd., Heber City 877-733-5334 18 holes, par 72 Membership required In addition to the 18-hole Jack Nicklaus Signature Course, Red Ledges boasts a family-friendly 12-hole Golf Park, with optional oversized cups and a layout that encourages bounces toward the hole.

We will wrap up this week's blog with 3 Tips to Glam Up Your Curb Appeal from Realtor Magazine. Curb appeal is even more important as more home buyers shop for homes from a distance and narrow the lists of which homes they want to view in-person. Here are some of their ideas to boost your curb appeal:

Pay attention to the driveway and walkways. You can take steps to make even concrete look good. After all, the driveway and walkways are what lead the eye toward a home’s front door. Any cracks or weeds popping up can present an eyesore. Patch the concrete with caulk and finish a concrete driveway and walkway with a clear, glossy sealer.

Fix up the garage. The garage is often an after-thought but it takes up a big portion of a home’s curb appeal, try painting the garage doors the same color as the home’s trim. Garage doors with a row of windows filter in more light and make it feel part of a home. Garage window kits are available for many models. You can swap out existing panels and add glass inserts.

Paint the front door. Peeling paint or rusty hardware on the front door isn’t very welcoming to a potential home buyer. If you’re going to spend money on one thing to add curb appeal, make it a new door. Front doors with glass inserts can help create a more welcoming space. But for homeowners looking to save, a fresh coat of paint may suffice.

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