Wednesday, November 26, 2008
Nov 26 market update
Conventional 30 year fixed rates:
5.25% (5.42%apr)
30 year fixed FHA rates:
5.5% (5.686%apr)
Low prices boost valley home sales
Foreclosure sales drive valley's third quarter
http://www.mydesert.com/article/20081120/BUSINESS04/811200325/1043/business04
Monday, November 24, 2008
Nov 24th Market update
30 year fixed rate
5.875% @ 1 point ( 6.066% APR )
30 year fixed FHA rate:
6.25% @ 1 point ( 6.447% APR )
Jumbo rate:
Loan Amounts up to $2,000,000, 5 or 7 year fixed 30 year amortiation. LTV's up to 80%, call for more details.
6.125% @ 1 point (6.193% APR)
Wednesday, November 19, 2008
11/19/08 Market Update
30 year fixed rate
5.875% @ 1 point ( 6.066% APR )
30 year fixed FHA rate:
6.25% @ 1 point ( 6.447% APR )
Jumbo rate:
Loan Amounts up to $2,000,000, 5 or 7 year fixed 30 year amortiation. LTV's up to 80%, call for more details.
6.125% @ 1 point (6.193% APR)
Niches:
Yesterday I went to the National Association of Mortgage Brokers Western Conference I found some great programs here is just some of them:
1. Awesome Conventional Pricing
2. Awesome Government Pricing
3. FHA, VA, PERS, STERS,
4. Access Program; an FHA loan with 0% down!! That is right Down Payment Assistance is back!!!
5. Incredible pricing on jumbo's to 2 million
6. Cash out refinancing with one day off the mls
7. Extremely lenient FHA underwriting. Worried about credit issues? I can help get around them
8. 75% Canadian loans
9. Stated loans to 70%LTV
10. Loan Modifications for those who are trying to save there home
11. Credit repair; if you need help with your credit I found a great company that can help!!!!!
12. HELOC's need an equity line? I can help.
Today's News
U.S. home builders reduced their starts of new homes by 4.5% in October, driving new construction to the lowest level since just after World War II, the Commerce Department estimated Wednesday.
click here for the full story
Monday, November 17, 2008
11/17/08 Market Update
30 year fixed rate
5.875% @ 1 point ( 6.066% APR )
30 year fixed FHA rate:
6.25% @ 1 point ( 6.447% APR )
Jumbo rate:
Loan Amounts up to $2,000,000, 5 or 7 year fixed 30 year amortiation. LTV's up to 80%, call for more details.
6.125% @ 1 point (6.193% APR)
Down Payment Assistance is Back!!!!!
That's right Access program is back!!! It is a second at 8% or 2% above the first note rate. The second can be used to cover the down payment and/or closing costs. Up to 105% CLTV. Call for more details.
Today's News
Fannie Mae said Monday it plans to reopen its three-year and five-year notes, selling $1 billion of each maturity. Fannie Mae currently has $4 billion in five-year notes and $3.5 billion in three-year notes outstanding. Both issues are slated to price Monday for settlement Wednesday.
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Other Services
If you are looking for other proffessional services, please check out the commits below. If you have a business and would like to promote it leave a commit below. I like to support other proffessionals I meet in the comunity.
Friday, November 14, 2008
Market Update 11/14/08
30 year fixed rate
6% @ 1 point ( 6.205% APR )
30 year fixed FHA rate:
6.25% @ 1 point ( 6.4 6% APR )
Today's News
Stocks fall as retail sales signal consumer distress
U.S. stocks on Friday fell for a fourth day this week, retreating after the prior session's rally, with retail sales declining a record amount in October, J.C. Penney Co. offering an outlook miss and Nokia Inc. warning of falling handset sales.
Thursday, November 13, 2008
11/13/08 Market Update
30 year fixed rate
6% @ 1 point ( 6.205% APR )
30 year fixed FHA rate:
6.25% @ 1 point ( 6.46% APR )
Today's News
Mortgage applications up 11.9% last week: MBA
Consumers took advantage of lower mortgage rates last week, with the pace of mortgage applications filed rising a seasonally adjusted 11.9% compared with the prior week, the Mortgage Bankers Association said Thursday.
Wednesday, November 12, 2008
Tuesday, November 11, 2008
Monday, November 10, 2008
11/10/08 1 min market update
As of right now at 7:47 am, the market is slightly up. There is no significant news due to be released until Thursday with the Federal Budget, then Friday with retail sales to be reported.
In the news this morning the US auto makers are trying to get in on the bail out plan, and the government has decided it is a good idea to put even more money into AIG. It seems we are back to bread lines, only it is big business in line for billions instead of the working class in line for basic necessities. We will see how the government interference plays out in the market. It has proven to make Wall Street very volatile so far.
As far as rates go they are very good right now. If you are not locked and you are closing your loan within the next 15 days you may want to lock, with the market being slightly up right now, just in case the market swings. However there is no real change in the performance of US companies. I would float if you are not faint of heart, and are willing to take a risk. Friday will tell if consumers are spending again buying American products. If that report comes in above expectations the market will improve and rates will go up, if it comes in low (which I feel is very likely) rates will get better.
Right now investors do not want to put there money in stocks, and investing in real estate loans is not that appealing either. Rates change based on what Wall Street is willing to pay for your loan. I'll keep you updated through the week as things change.
30 year fixed rate
5.875% @ 1 point ( 6.084% APR )
30 year fixed FHA rate:
6.375% @ 1 point ( 6.593% APR )
Today's News
AIG, Fannie Mae, General Motors, Circuit City in focus
U.S. stock market futures climbed, with commodities and their extractors getting a lift from a China stimulus package worth over $500 billion, as American International Group received a revamped bailout package.
Fannie Mae (FNM:FNM 0.75, +0.01, +1.6%) said its third-quarter loss widened to $29 billion, or $13 a share in its fiscal third quarter ending Sept. 30, from a loss of $1.52 billion, or $1.56 a share in the year-ago period.
In the news this morning the US auto makers are trying to get in on the bail out plan, and the government has decided it is a good idea to put even more money into AIG. It seems we are back to bread lines, only it is big business in line for billions instead of the working class in line for basic necessities. We will see how the government interference plays out in the market. It has proven to make Wall Street very volatile so far.
As far as rates go they are very good right now. If you are not locked and you are closing your loan within the next 15 days you may want to lock, with the market being slightly up right now, just in case the market swings. However there is no real change in the performance of US companies. I would float if you are not faint of heart, and are willing to take a risk. Friday will tell if consumers are spending again buying American products. If that report comes in above expectations the market will improve and rates will go up, if it comes in low (which I feel is very likely) rates will get better.
Right now investors do not want to put there money in stocks, and investing in real estate loans is not that appealing either. Rates change based on what Wall Street is willing to pay for your loan. I'll keep you updated through the week as things change.
30 year fixed rate
5.875% @ 1 point ( 6.084% APR )
30 year fixed FHA rate:
6.375% @ 1 point ( 6.593% APR )
Today's News
AIG, Fannie Mae, General Motors, Circuit City in focus
U.S. stock market futures climbed, with commodities and their extractors getting a lift from a China stimulus package worth over $500 billion, as American International Group received a revamped bailout package.
Fannie Mae (FNM:FNM 0.75, +0.01, +1.6%) said its third-quarter loss widened to $29 billion, or $13 a share in its fiscal third quarter ending Sept. 30, from a loss of $1.52 billion, or $1.56 a share in the year-ago period.
Saturday, November 8, 2008
market update 11/08/08
Today’s market opinion:
The market finished up slightly on Friday. This is what we call “a dead cat bounce”. The market data for the week is not positive. The unemployment rate is at 6.5%, jobless claims are at 481,000 very high. The market can not return until we see some of these important indices make a positive change. Next week we have a few important reports ,including the retail sales report, which are likely to come in low and keep rates down for at least this next week. I would recommend floating for now, but be prepared to lock in a rate as we are in a volatile time, where anything can “Change”.
Today’s 30 year fixed rate:
5.875% @ 1 point (6.084% APR)
Today’s 30 year fixed FHA rate:
6.375% @ 1 point (6.593% APR)
Today’s News:
Conforming loan limit to stay at $417,000 next year
Despite the slide in housing prices in most parts of the country, the conforming home loan limit will remain at $417,000 next year for most of the country, the government said Friday.
http://www.marketwatch.com/news/story/conforming-mortgage-limit-stay-417000/story.aspx?guid=%7B2B8E8866%2D6028%2D4F24%2DB31A%2DFEDF41B0C3D8%7D
Motivation for the day:
Change is Good
http://www.changeisgoodmovie.com
The market finished up slightly on Friday. This is what we call “a dead cat bounce”. The market data for the week is not positive. The unemployment rate is at 6.5%, jobless claims are at 481,000 very high. The market can not return until we see some of these important indices make a positive change. Next week we have a few important reports ,including the retail sales report, which are likely to come in low and keep rates down for at least this next week. I would recommend floating for now, but be prepared to lock in a rate as we are in a volatile time, where anything can “Change”.
Today’s 30 year fixed rate:
5.875% @ 1 point (6.084% APR)
Today’s 30 year fixed FHA rate:
6.375% @ 1 point (6.593% APR)
Today’s News:
Conforming loan limit to stay at $417,000 next year
Despite the slide in housing prices in most parts of the country, the conforming home loan limit will remain at $417,000 next year for most of the country, the government said Friday.
http://www.marketwatch.com/news/story/conforming-mortgage-limit-stay-417000/story.aspx?guid=%7B2B8E8866%2D6028%2D4F24%2DB31A%2DFEDF41B0C3D8%7D
Motivation for the day:
Change is Good
http://www.changeisgoodmovie.com
Thursday, November 6, 2008
11/06/08-Market update
30 year fixed rates for the day:
6.375% @ 0 points ( 6.193% APR )
30 year fixed FHA rate for the day:
6.5% @ 1 point ( 6.623% APR )
News for the day: 'Underwater' Need Not Mean Foreclosure’
Why Most People Who Owe More Than a Property's Worth Will Still Keep Their Homes http://online.wsj.com/article/SB122583941535198573.html?mod=googlenews_wsj
Motivation for the day: The Richest Man in Town is a true story that captures the important things in life in an unforgettable way. It is beautifully written and will make you laugh, make you cry, but most importantly, will make you reflect on what life is about.
http://www.richestmanmovie.com
Free Tool of the day: Skype is a great way to communicate. It is a free web conference tool. Sign up and include me as your friend then we can talk for free on see each other. www.skype.com my username: hughvanhorn
6.375% @ 0 points ( 6.193% APR )
30 year fixed FHA rate for the day:
6.5% @ 1 point ( 6.623% APR )
News for the day: 'Underwater' Need Not Mean Foreclosure’
Why Most People Who Owe More Than a Property's Worth Will Still Keep Their Homes http://online.wsj.com/article/SB122583941535198573.html?mod=googlenews_wsj
Motivation for the day: The Richest Man in Town is a true story that captures the important things in life in an unforgettable way. It is beautifully written and will make you laugh, make you cry, but most importantly, will make you reflect on what life is about.
http://www.richestmanmovie.com
Free Tool of the day: Skype is a great way to communicate. It is a free web conference tool. Sign up and include me as your friend then we can talk for free on see each other. www.skype.com my username: hughvanhorn
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