March 13th 1 min Market Update

30 year fixed rate 4.5%
( 4.705% APR )
30 year fixed FHA rate: 4.75%
( 4.958% APR )
Jumbo rate: 6%
Loan Amounts up to $2,000,000, 5 or 7 year fixed 30 year amortiation. LTV's up to 80%, call for more details.
(6.236% APR)

1 min market Update

After 6 years with TMG Financial Services Inc. I have decided to move to a new company ABR Mortgage Inc. They have been in business for 22 years and have a great reputation. I still have my office in La Quinta as well as a new office in Palm Springs. I am very excited about this change, please see todays video update for the latest news regarding the real estate and mortgage markets.


30 year fixed rate 4.25%
( 4.452% APR )

30 year fixed FHA rate: 4.75%
( 4.985% APR )

Jumbo rate: 6%
Loan Amounts up to $2,000,000, 5 or 7 year fixed 30 year amortiation. LTV's up to 80%, call for more details.
(6.236% APR)

Today's News:
Mortgage delinquency rate hits record

http://www.marketwatch.com/news/story/mortgage-delinquencies-take-record-leap/story.aspx?guid=64AA3907-931E-4792-9EE8-0A4C4487234E

Feb 20th Mortgage Market Update

30 year fixed rate 4.75%
( 4.983% APR )
30 year fixed FHA rate: 4.75%
( 5.005% APR )
Jumbo rate: 5.375%
Loan Amounts up to $2,000,000, 5 or 7 year fixed 30 year amortiation. LTV's up to 80%, call for more details.
(5.694% APR)

Today's News:


Mortgage applications rose 45.7% last week
Falling interest rates cause refinance filings to soar, MBA data show:

http://www.marketwatch.com/news/story/week-to-week-mortgage-applications-up-457/story.aspx?guid=A3E1C145-F14E-4F97-B311-C6E822E0F8B3

Good video

Feb 13th 1 min Mortgage Market update

30 year fixed rate 4.75%
( 5.010% APR )
30 year fixed FHA rate: 4.75%
( 5.010% APR )
Jumbo rate: 5.375%
Loan Amounts up to $2,000,000, 5 or 7 year fixed 30 year amortiation. LTV's up to 80%, call for more details.
(5.694% APR)
Today's News: Great article that recomends people buy now.

Consumers' cash cows Plenty of falling prices, but 'deflation' party likely to be short-lived

http://www.marketwatch.com/news/story/Plenty-falling-prices-deflation-party/story.aspx?guid=%7B90A9F770%2DB166%2D477F%2D92A0%2D0B867A07AF66%7D&dist=hpts

Loan Modifications:

Our business is to help in any way we can when it comes to home finance, if you are having trouble affording your house payment, or are severly upside down in your mortgage we can now help you in modifying your loan. Using both legal and financial means to aggressively pursue negotiations with your lender to modify your loan.

After collecting some information from you, we do a preliminary analysis. Then, after discussing general terms with your lender, we provide you a scenario that either :

(a) reduces your payment,
(b) reduces your interest rate,
(c) reduces your principal balance, or
(d) a combination of these.

We do NOT charge any upfront fees for this analysis. Once we determine whether we can help, we work with you on the fee to be charged, and proceed according to your timeframe. If we can be of support and assistance, we want to work with you to modify your loan.

example:
5 yr. IO (Interest Only loan) @ 6.5% on 1st
Value of home: $187,500
Outstanding balance on mortgage: $297,600


Outcome: Reduced payments the payments 1st went down to 4.625% on a 30 yr. fixed, 2nd mortgage got a principal reduction from $48,500 to $19,652
Total savings of $586.00/ mo.

Feb 12th Mortgage Market Update

The Dow is down again I hope we can stay above the 7,500 floor. Rates are a little better, and foreclosures may be slowing.


30 year fixed rate 4.75%
( 4.965% APR )
30 year fixed FHA rate: 4.75%
( 4.983% APR )
Jumbo rate: 5.5%
Loan Amounts up to $2,000,000, 5 or 7 year fixed 30 year amortiation. LTV's up to 80%, call for more details.
(5.838% APR)
Today's News:
Jan. foreclosures climb 18%, but fall from December

Loan Modifications:

Our business is to help in any way we can when it comes to home finance, if you are having trouble affording your house payment, or are severly upside down in your mortgage we can now help you in modifying your loan. Using both legal and financial means to aggressively pursue negotiations with your lender to modify your loan.

After collecting some information from you, we do a preliminary analysis. Then, after discussing general terms with your lender, we provide you a scenario that either :

(a) reduces your payment,
(b) reduces your interest rate,
(c) reduces your principal balance, or
(d) a combination of these.

We do NOT charge any upfront fees for this analysis. Once we determine whether we can help, we work with you on the fee to be charged, and proceed according to your timeframe. If we can be of support and assistance, we want to work with you to modify your loan.

example:
5 yr. IO (Interest Only loan) @ 6.5% on 1st
Value of home: $187,500
Outstanding balance on mortgage: $297,600


Outcome: Reduced payments the payments 1st went down to 4.625% on a 30 yr. fixed, 2nd mortgage got a principal reduction from $48,500 to $19,652
Total savings of $586.00/ mo.

Please email me for more information:

hughvh@themortggeguild.com

Feb 11th Market Update

The Dow was down over 300 points yesterday. It is attempting to recover this morning. I feel however we are still on a downward trend.


30 year fixed rate 4.5%
( 4.771% APR )

30 year fixed FHA rate: 4.75%
( 5.028% APR )

Jumbo rate: 5.5%
Loan Amounts up to $2,000,000, 5 or 7 year fixed 30 year amortiation. LTV's up to 80%, call for more details.
(5.838% APR)

Today's News:

Lawmakers grill bankers about bailout funds
Bank executives say they are putting government money to work

http://www.marketwatch.com/news/story/Lawmakers-grill-bankers-about-bailout/story.aspx?guid=%7BE87293EB%2DF45C%2D41B3%2DBAF1%2D8931D7009804%7D

Loan Modifications

We have loan mods!!!! If you are having trouble making payments, or are more than 30% upside down in your mortgage

2/10/09 1 min mortgage market update

The Obama Administration is spelling out there economic stimulus plan. It reminds me of the scene from the first Batman movie where the Joker is doing parade down the street throwing a bunch of money to everyone. Now I guess we are all suppose to run out and get as much as we can. The parts of the plan that effects housing is a 50 billion dollar plan to help with loan modifications, and there is a plan to give liquidity to banks to make them start lending.



30 year fixed rate 4.875%
( 5.109% APR )
30 year fixed FHA rate: 4.75%
( 5.115% APR )
Jumbo rate: 5.5%
Loan Amounts up to $2,000,000, 5 or 7 year fixed 30 year amortiation. LTV's up to 80%, call for more details.
(5.838% APR)

Today's News:

Overview of U.S. bank rescue plan

http://uk.reuters.com/article/economyNews/idUKTRE5194H420090210?pageNumber=1&virtualBrandChannel=0&sp=true

Loan Modifications

We have loan mods!!!! If you are having trouble making payments, or are more than 30% upside down in your mortgage please email me: hughvh@themortggeguild.com



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.

Feb 9th Mortgage Market Update

30 year fixed rate 5%
( 5.213% APR )

30 year fixed FHA rate: 4.75%
( 5.117% APR )

Jumbo rate: 5.5%
Loan Amounts up to $2,000,000, 5 or 7 year fixed 30 year amortiation. LTV's up to 80%, call for more details.
(5.838% APR)

Today's News:

Five reasons to buy a home this year
Affordability returns to housing, and buyers have loads of negotiating power

http://www.marketwatch.com/news/story/five-reasons-buying-house-now/story.aspx?guid=%7B01DA1B93%2D91D1%2D49E4%2DA1B1%2D0ACA9CE66FF4%7D

01/27/09 Market

Jan 20th Mortgage Market Update

We are officially under a new administration. New stimulus packages are being presented, new market information is being released. What does all this mean for our real estate and mortgage markets? Click my video to find out:


30 year fixed rate 4.625%
( 4.957% APR )

30 year fixed FHA rate: 4.5%
( 4.841% APR )

Jumbo rate: 6%
Loan Amounts up to $2,000,000, 5 or 7 year fixed 30 year amortiation. LTV's up to 80%, call for more details.
(6.154% APR)

Today's News:

1. Obama to unveil new rescue plan: Geithner
Treasury nominee offers no estimate of cost, signals more money needed

2. U.S. home builders became even more pessimistic about the housing market in January, according to a survey conducted by an industry trade group released Wednesday.

Jan 12 Mortgage Market Update

30 year fixed rate 4.625%
( 4.938% APR )
30 year fixed FHA rate: 4.5%
( 4.864% APR )
Jumbo rate: 6%
Loan Amounts up to $2,000,000, 5 or 7 year fixed 30 year amortiation. LTV's up to 80%, call for more details.
(6.154% APR)
Today's News:

1. Andrew Brenner, co-head of structured products and emerging markets at MF Global noted "the new money flows are going into corporate [bonds] and mortgages."

2. Bush: will ask Congress for TARP funds if Obama asks
President Bush said Monday he'd be willing to ask Congress for the remaining $350 billion in U.S. financial bailout funds if President-elect Obama requests it. Obama's team has reportedly been talking with the White House about having Treasury Secretary Henry Paulson ask Congress for access to the fund as early as this week. At his final press conference, Bush also said he is satisfied with steps taken by his administration to get credit markets working again.

Jan 9th Market Update

30 year fixed rate 4.625%
( 4.938% APR )

30 year fixed FHA rate: 4.5%
( 4.864% APR )

Jumbo rate: 6%
Loan Amounts up to $2,000,000, 5 or 7 year fixed 30 year amortiation. LTV's up to 80%, call for more details.
(6.154% APR)

Today's News:

1. 524,000 jobs lost in December Unemployment rate rises to 7.2%, the highest level in 16 years


2. FHA needs to ramp up program oversight


Fannie Mae and Freddie Mac Change the Appraisal Process

Freddie Mac and Fannie Mae will implement a revised Home Valuation Code of Conduct beginning May 1, 2009. In an attempt to increase the reliability of appraisals, the revised code builds on existing seller-servicer guidelines and will apply to lenders that sell single-family mortgage loans to Fannie Mae and Freddie Mac.
One major difference in the code is that lenders will be required to order appraisals from one central clearing house, which will in turn select an appraiser. The down side of such a process is that lenders will have little to no communication with the appraiser, which means there won't be an opportunity to have a discussion or touch base with appraisers before they go out to appraise the house. The new code is intended to help assure that borrowers, home buyers and secondary mortgage market investors receive fair and independent property valuations.
In some areas, lenders have already implemented these changes, and in the next few weeks and months, more will have to begin the process.

Jan 7th 2008 market update

30 year fixed rate 4.625%
( 4.938% APR )

30 year fixed FHA rate: 4.75%
( 5.063% APR )

Jumbo rate: 6%
Loan Amounts up to $2,000,000, 5 or 7 year fixed 30 year amortiation. LTV's up to 80%, call for more details.
(6.154% APR)

Today's News:

1. Fannie Mae will offer 3-year Benchmark Notes with the issue size to be determined, the mortgage giant said Wednesday. The issue will price on Thursday with settlement scheduled for Friday.

2. ADP shows 693,000 jobs lost in December
Private-sector payrolls drop adds to signficance of Friday employment report.


22 ways to come up with down payment on FHA loans:


1. Escrow deposit
2. Savings Account
3. Checking account
4. Gift Funds
5. Collateralized Loan
6. Sale Proceeds
7. Trade Equity
8. Sale of Personal Property
9. Employers Guarantee Plan
10. Employer assistance Program
11. Savings Bond
12. IRA
13. Thrift Savings Plan
14. 401k
15. Keogh Accounts
16. stocks
17. Bonds
18. Cash at Home
19. Rent Credit
20. Commission from Sale
21. Disaster Relief Grants and Loans
22. Cash Accumulated with a savings club

Jan 5th Market Update

It is now the New Year and it is time to reflect on where we are. There have been some changes to lending guidelines, I will keep you posted on those. I highly recommend, if you haven't already, that you have a mortgage professional review your mortgage. There may be something that could benefit you, and the product you need may be going away. For more information please click below on my market update video.



30 year fixed rate 5%
( 5.191% APR )

30 year fixed FHA rate: 5%
( 5.328% APR )

Jumbo rate: 6%
Loan Amounts up to $2,000,000, 5 or 7 year fixed 30 year amortiation. LTV's up to 80%, call for more details.
(6.154% APR)

Today's News:

1. Don't miss the refi window

2. Loan losses to take bigger bite out of banks in 2009
Deutsche Bank sees a chance of record losses; estimates cut for 16 banks

3. The Federal Reserve Bank of New York said Monday it has begun purchasing fixed-rate mortgage-backed securities guaranteed by Fannie Mae, Freddie Mac and Ginnie Mae. The purchases follow up on an announcement made in November that the Fed will buy up to $500 million in mortgage-backed debt from the major government-sponsored agencies to support the housing market. The Fed will not release details on what it's purchased or how much until Thursday, and will update those details weekly. The U.S. central bank has also purchased debt directly issued by the agencies in the last month


22 ways to come up with down payment on FHA loans:


1. Escrow deposit
2. Savings Account
3. Checking account
4. Gift Funds
5. Collateralized Loan
6. Sale Proceeds
7. Trade Equity
8. Sale of Personal Property
9. Employers Guarantee Plan
10. Employer assistance Program
11. Savings Bond
12. IRA
13. Thrift Savings Plan
14. 401k
15. Keogh Accounts
16. stocks
17. Bonds
18. Cash at Home
19. Rent Credit
20. Commission from Sale
21. Disaster Relief Grants and Loans
22. Cash Accumulated with a savings club

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.