December 29th Market Update

I hope everyone had a great Christmas. I know I did. Santa was good to our family this year. I look forward to the new year. Rates are fantastic and many experts are saying now is a good time to take advantage of the current low home prices, and the historically low interest rates.

30 year fixed rate
4.875% @ 1 point ( 5.032% APR )

30 year fixed FHA rate:
5.5% @ 1 point ( 5.637% 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.

5.5% @ 1 point (5.749% APR)

30 year fixed rate
5% @ 1 point ( 5.132% APR )

30 year fixed FHA rate:
5.5% @ 1 point ( 5.637% 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.
5.5% @ 1 point (5.749% APR)

Today's News:

1. Fed balance sheet totals $2.34 trillion in week of Dec. 17. SOme say the government isn't doing enough, read this and you deciede:


2. 30-year fixed-rate mortgage at 37-year low
Fed actions send mortgage rates tumbling, and refinancers searching


Niche list:


1. FHA Refinance!!! Equity does not matter!!!
2. Conventional
3. Government
4. FHA, VA, PERS, STERS,
5. Down Payment Assistance is back!!!
6. Incredible pricing on jumbo's to 2 million
7. Cash out refinancing with one day off the mls
8. Extremely lenient FHA underwriting. Worried about credit
issues? I can help get around them
9. 75% Canadian loans
10. Stated loans to 70%LTV
11. Loan Modifications for those who are trying to save there
home
12. Credit repair; if you need help with your credit I found a
great company that can help!!!!!
13. HELOC's need an equity line? I can help.

December 16th Market Update

Here is your market update. If you know anyone looking to finance a property, please refer them to me. I feed my family from the referrals from you, don't keep me a secret. I hope to be serving you and the ones you love for years to come.

30 year fixed rate
4.875% @ 1 point ( 5.125% APR )

30 year fixed FHA rate:
5.5% @ 1 point ( 6.137% 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.
5.75% @ 1 point (5.849% APR)

Today's News:

KBW sees home prices bottoming by spring 2009

BOSTON (MarketWatch) -- Keefe, Bruyette & Woods on Tuesday forecast price depreciation of roughly 5% on new U.S. homes and losses of between 5% and 10% on existing homes for 2009, but expects prices to bottom by spring. "While we expect the current environment of limited liquidity and continued credit deterioration to persist into 2009, we expect both home prices and asset prices to bottom in 2009," KBW analysts wrote in a report. "We expect credit losses to stabilize once home prices stabilize.

Niche list:


1. FHA Refinance!!! Equity does not matter!!!
2. Conventional
3. Government
4. FHA, VA, PERS, STERS,
5. We have several 100% LTV Government programs!!!
6. Incredible pricing on jumbo's to 2 million
7. Cash out refinancing with one day off the mls
8. Extremely lenient FHA underwriting. Worried about credit
issues? I can help get around them
9. 75% Canadian loans
10. Stated loans to 70%LTV
11. Loan Modifications for those who are trying to save there
home
12. Credit repair; if you need help with your credit I found a
great company that can help!!!!!
13. HELOC's need an equity line? I can help.

Dec 10th Update

30 year fixed rate
5.375% @ 1 point ( 5.496% APR )

30 year fixed FHA rate:
6% @ 1 point ( 6.137% 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.
5.75% @ 1 point (5.849% APR)

Niche list:


1. FHA Refinance!!! Equity does not matter!!!
2. Conventional
3. Government
4. FHA, VA, PERS, STERS,
5. Access Program; an FHA loan with 0% down!! That is right
Down Payment Assistance is back!!!
6. Incredible pricing on jumbo's to 2 million
7. Cash out refinancing with one day off the mls
8. Extremely lenient FHA underwriting. Worried about credit
issues? I can help get around them
9. 75% Canadian loans
10. Stated loans to 70%LTV
11. Loan Modifications for those who are trying to save there
home
12. Credit repair; if you need help with your credit I found a
great company that can help!!!!!
13. HELOC's need an equity line? I can help.



PRESS RELEASE
ForeclosureS.com: Housing Markets Will Roar Back in 2009
U.S. Foreclosures Index Paints Bright Picture

Last update: 6:00 a.m. EST Dec. 9, 2008
SACRAMENTO, Calif., Dec 09, 2008 (BUSINESS WIRE) -- The nation's foreclosure hemorrhage has finally slowed and 2009 should see a significant decline in foreclosures as buyers return, pushing home prices up and fueling a real estate recovery, according to the 2009 Outlook from ForeclosureS.com, the leading real estate and property information and education specialists.
"Recovery is underway. Affordable is back in the housing market," says Alexis McGee, real estate expert, educator, and president of ForeclosureS.com. "In 2009, housing will not only recover, but we'll see buyers leap into this market in droves, depleting our housing oversupply, and actually put higher price pressures on the market."
"With 4.5% fixed mortgage rates, housing prices lower than they were 'pre-housing bubble', commodity prices lower, tax credits available for homebuyers, and the government eager to stimulate our economy, for the first time in years I can see prices rising again in 2009," adds McGee. "This is a great time to buy properties for investors -- to buy properties at wholesale prices below today's already low prices -- rent them out for positive cash flow and then sell them for big profits in late 2009 once price appreciation kicks in."
The latest U.S. Foreclosure Index by ForeclosureS.com shows a slight drop from 84,534 to 84,291 in the number of properties repossessed by lenders following foreclosure last month over October. These are REOs or lender-owned real estate. But that's off nearly 21% from September's 106,415 REO filings. (Year to date 12.6 of every 1,000 households nationwide have been lost to foreclosure.)
"Certainly some of the drop reflects growing results of government and private efforts to keep homeowners in their homes," says McGee. "But the recovery takes shape when you factor in other things like what the National Association of Realtors calls 'solid' gains from a year ago in existing home sales in some key areas, and the fact that many of the same areas are seeing dropping home prices. Fewer foreclosure actions were initiated in the last quarter, too, according to the latest Mortgage Delinquency Survey from the Mortgage Bankers Association," McGee adds.
"California is a great example of what's happening now and what lies ahead for the housing sector. Long a leader in the subprime mortgage mess and rising numbers of foreclosures, the state's foreclosures have slowed significantly," says McGee.
The latest U.S. Foreclosure Index numbers show November REO filings in the state down to 15,978 in November, down 6.55% from October and off nearly 50% from September. Home prices there have come down, too, as much as 39.4% from the third quarter from a year ago in some areas like Riverside-San Bernardino-Ontario, according to National Association of Realtors numbers. That's left many homeowners that bought their homes at high price points with upside down mortgages--they owe more than the value of the home. But it's also made homes more affordable for plenty of other people. Solid and in many cases rising existing homes sales support that, adds McGee.
In November, another perennial leader in foreclosures, Arizona, saw its REOs and pre-foreclosure filings drop (down 5.19% and 5% respectively), according to U.S. Foreclosure Index numbers.
The pre-foreclosure picture when averaged nationally isn't quite as bright. Pre-foreclosures include notice of mortgage default and/or foreclosure auction. Amid all the negative economic news across the nation, pre-foreclosures for November were up 5.57% from October with 27.1 of every 1,000 households across the country facing some kind of foreclosure action (177,254 vs. 167,906 filings in October). But that's still down nearly 2% and more than 7.5% from March's high, according to U.S. Foreclosure Index analysis.
"Pre-foreclosure numbers likely climb in early 2009 (albeit at a much slower rate than in 2008)," says McGee. "Too many homeowners already are just too overextended and likely won't seek help to work out their delinquent mortgages until after a pre-foreclosure filing against their property. That filing, it seems, is the wake-up call for many to get the help they need and sell," McGee adds.
"Potential homebuyers and investors on the other hand, will find the bargains growing in 2009," says McGee. "As the year progresses more bright spots will emerge, too, both in terms of foreclosure numbers and housing markets as efforts to work with strapped homeowners really begin to take root."
"I wish my crystal ball could pinpoint everything that's going to happen with housing markets in the next 12 months, but there are just too many variables. What I can tell, though, is that hardest hit housing markets have already hit bottom and others will follow in 2009. Third-quarter National Association of Realtor numbers actually show existing home sales picking up in about 20 percent of the areas studied. And, given the uncertainty and volatility of the stock market combined with all time low interest rates, extremely affordable low priced homes, and all the choices out there, 2009 is an excellent time to buy real estate. Properties, especially foreclosed ones, will be highly discounted, lenders are motivated to work with buyers, and the opportunities are abound. The bottom line to keep in mind: What goes down absolutely positively will go back up again.
"The return of solid housing markets is an important part of restoring stability to financial markets. The market will return when mortgage rates and home prices are down, and that's exactly what is happening now in the hardest-hit areas of the country," adds McGee.
ForeclosureS.com has been the professional's source for accurate foreclosure property information for more than 20 years. The company bases its analysis on the number of formal notices filed against a property during the foreclosure process. That can include notice of default, notice of foreclosure auction, and/or notice of REO (lender-owned real estate that occurs after a foreclosed property fails to sell at auction and reverts back to the lender). Pre-foreclosure filings are initial notices that all do not end up as foreclosure.
For more Foreclosure Statistics and Information for your area, as well as expert commentary from Alexis McGee, president of ForeclosureS.com, please contact Sofia Gutierrez, ForeclosureS.com

Dec 9th Market Update

Good morning here is your market update. If you know anyone looking to finance a property, please refer them to me. I feed my family from the referrals from you, don't keep me a secret. I hope to be serving you and the ones you love for years to come.


30 year fixed rate
5.375% @ 1 point ( 5.496% APR )

30 year fixed FHA rate:
6% @ 1 point ( 6.137% 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.
5.75% @ 1 point (5.849% APR)
Pending home sales index down 0.7% in October

By Ruth Mantell

Last update: 10:00 a.m. EST Dec. 9, 2008
WASHINGTON (MarketWatch) -- In a sign that further weakening may be in store for the U.S. housing market, an index of sales contracts on previously owned U.S. homes fell 0.7% in October from the prior month, the National Association of Realtors reported Tuesday. The index, which is considered a leading indicator of existing home sales, was down 1% from the prior year. Pending home sales in October were mixed regionally, with declines of 8.7% in the West, and 4.3% in the Midwest. Meanwhile, there were gains of 7.8% in the South, and 0.6% in the Northeast. The September pending home sales index was revised to a decline of 4.3% from a prior estimate of a 4.6% drop.


Niche list:


1. FHA Refinance!!! Equity does not matter!!!
2. Conventional
3. Government
4. FHA, VA, PERS, STERS,
5. Access Program; an FHA loan with 0% down!! That is right
Down Payment Assistance is back!!!
6. Incredible pricing on jumbo's to 2 million
7. Cash out refinancing with one day off the mls
8. Extremely lenient FHA underwriting. Worried about credit
issues? I can help get around them
9. 75% Canadian loans
10. Stated loans to 70%LTV
11. Loan Modifications for those who are trying to save there
home
12. Credit repair; if you need help with your credit I found a
great company that can help!!!!!
13. HELOC's need an equity line? I can help.


I appreciate your business. Please don't keep me a secret. I feed my family off of the referrals I receive from you. I look forward to serving you and the ones you love for years to come.

Sincerely,


Hugh Van Horn
Branch Manager
TMG Financial Services Inc.
(951) 897-4844 hughvh@themortgageguild.com
www.hughvanhorn.blogspot.com

12/04/08 Market Update

30 year fixed rate
5% @ 1 point ( 5.132% APR )

30 year fixed FHA rate:
5.5% @ 1 point ( 5.637% 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.
5.5% @ 1 point (5.749% APR)

12/03/08 Market update

30 year fixed rate
5.375% @ 1 point ( 5.562% APR )
30 year fixed FHA rate:
5.875% @ 1 point ( 6.007% 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.

5.875% @ 1 point (6.063% APR)
Today's News

FDIC's Bair: Hopeful for her mortgage plan
Encouraged that Obama will support $24.4-billion foreclosure mitigation plan

30 year fixed rate 5.375% @ 1 point ( 5.562% APR ),

30 year fixed FHA rate: 5.875% @ 1 point ( 6.007% 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. 5.875% @ 1 point (6.063% APR)