See this blog post by Ted C. Jones, PhD, Senior Vice President—Chief Economist, Stewart Title Guaranty Company.
http://blog.stewart.com/?p=68
Sunday, April 5, 2009
Friday, April 3, 2009
Loan Rates - Where do you get your information?
If you are in the market for a new home and waiting for interest rates to fall, you may want to read the article below. We all want to get the 'best' deal. That said, no one ever knows when the 'best' deal might come. Could we lose more than we gain by waiting? Perhaps. Read on.....
By The Time You Read About Low Mortgage Rates, It Was Already Too Late To Get Them
Thursday morning, homeowners in different parts of the country awoke to find similar-sounding newspaper headlines:
Rates on 30-year mortgages sink to 4.78%, a new low (LA Times)
Mortgage rates at record low for 2nd week (Miami Herald)
Mortgages hit another record low (San Francisco)
The underlying story was that Freddie Mac's weekly Primary Mortgage Market Survey showed the lowest, average 30-year fixed rate mortgage in its 38-year, rate-tracking history.
Once again, however, the headlines came too late for homeowners.
Prior to Thursday's market open, mortgage markets had already worsened from their record-setting levels. Slowly at first, and then with momentum. The shift pressured rates higher so that when lenders issued their Thursday morning rate sheets, most showed an 1/8 increase from Wednesday's close.
The negative momentum carried into the afternoon, too, forcing a second increase of an 1/8 percent.
The Freddie Mac survey may have been accurate when the sun came up Thursday, but by the time the sun went down, it wasn't even close. It's why you can't do your rate shopping by watching newspaper headlines. Mortgage markets are volatile and rates often change without notice.
Thursday, they did it twice.
Thanks to Daniel Sosa at PMZ Home Loans for the article
Daniel Sosa (209) 298-8017 dsosa@pmzhomeloans.com
By The Time You Read About Low Mortgage Rates, It Was Already Too Late To Get Them
Thursday morning, homeowners in different parts of the country awoke to find similar-sounding newspaper headlines:
Rates on 30-year mortgages sink to 4.78%, a new low (LA Times)
Mortgage rates at record low for 2nd week (Miami Herald)
Mortgages hit another record low (San Francisco)
The underlying story was that Freddie Mac's weekly Primary Mortgage Market Survey showed the lowest, average 30-year fixed rate mortgage in its 38-year, rate-tracking history.
Once again, however, the headlines came too late for homeowners.
Prior to Thursday's market open, mortgage markets had already worsened from their record-setting levels. Slowly at first, and then with momentum. The shift pressured rates higher so that when lenders issued their Thursday morning rate sheets, most showed an 1/8 increase from Wednesday's close.
The negative momentum carried into the afternoon, too, forcing a second increase of an 1/8 percent.
The Freddie Mac survey may have been accurate when the sun came up Thursday, but by the time the sun went down, it wasn't even close. It's why you can't do your rate shopping by watching newspaper headlines. Mortgage markets are volatile and rates often change without notice.
Thursday, they did it twice.
Thanks to Daniel Sosa at PMZ Home Loans for the article
Daniel Sosa (209) 298-8017 dsosa@pmzhomeloans.com
Friday, March 27, 2009
Look What We've Been Up To!
We just completed our newest model, The Villa. This 3 bedroom, 2 bath home is just the right size at 1372 square feet. This model sits on one of our average-sized home sites which is approximately 7500 square feet. This is country living!
I wanted to share some of the interior photos of this new Villa. I will post exterior photos in the days to come.
I wanted to share some of the interior photos of this new Villa. I will post exterior photos in the days to come.
Monday, March 23, 2009
What's Ahead For Mortgage Rates This Week
A friend of mine in the mortgage industry sends me updates to his blog, where he posts about daily mortgage rates and financial news.
Below is today's update, which I found quite interesting. I thought it was necessary to share with others!
Mortgage markets scored big gains last week, sparked by the Federal Reserves pledge to buy $750 billion more mortgage-backed bonds in 2009. Conforming mortgage rates fell on the week, overall. But Federal Reserve intervention wasn't the only good news for rate shoppers last week. New evidence showed -- for the time being, at least -- that the U.S. economy may be reversing direction:
Homebuilders are breaking ground on new homes again http://tinyurl.com/dd2bvw
First-time jobless claims are falling http://tinyurl.com/d2pnep
Inflation is present and, therefore, deflation is not http://tinyurl.com/dyo3nq
Should the economy continue trend stronger through the summer, it will likely fuel stock market gains, drawing cash away from mortgage bonds. This would lead mortgage rates higher -- perhaps for good. Today's levels are artificially low, after all, supported by government intervention more than economic fundamentals. After the Fed's Wednesday afternoon announcement, rates fell to all-time lows before recovering sharply into the weekend on economic optimism and fears of inflation. This week, the trend higher may continue….
You can read his full blog post at http://www.loanapproval411.com/info_01/page_1.rad
If you have any loan questions please call Daniel Sosa at PMZ Home Loans, (209) 298-8017
Below is today's update, which I found quite interesting. I thought it was necessary to share with others!
Mortgage markets scored big gains last week, sparked by the Federal Reserves pledge to buy $750 billion more mortgage-backed bonds in 2009. Conforming mortgage rates fell on the week, overall. But Federal Reserve intervention wasn't the only good news for rate shoppers last week. New evidence showed -- for the time being, at least -- that the U.S. economy may be reversing direction:
Homebuilders are breaking ground on new homes again http://tinyurl.com/dd2bvw
First-time jobless claims are falling http://tinyurl.com/d2pnep
Inflation is present and, therefore, deflation is not http://tinyurl.com/dyo3nq
Should the economy continue trend stronger through the summer, it will likely fuel stock market gains, drawing cash away from mortgage bonds. This would lead mortgage rates higher -- perhaps for good. Today's levels are artificially low, after all, supported by government intervention more than economic fundamentals. After the Fed's Wednesday afternoon announcement, rates fell to all-time lows before recovering sharply into the weekend on economic optimism and fears of inflation. This week, the trend higher may continue….
You can read his full blog post at http://www.loanapproval411.com/info_01/page_1.rad
If you have any loan questions please call Daniel Sosa at PMZ Home Loans, (209) 298-8017
Saturday, March 21, 2009
Thursday, March 19, 2009
We're Buying Loan Rates Down To 4.00% on 30 Year Fixed Loans
Promotion is valid on new contracts written between 3/1/09 and 3/31/09 on select homes. Promotion available to owner-occupants and is subject to availability, qualification using full documentation and a minimum FICO score of 620. Raymus Homes, Inc reserves the right to change or cancel promotion at anytime, without notice. Funds are limited and based on a first-come, first-serve basis. Promotion must be mentioned at the of contract. (4.601% APR)
Monday, March 16, 2009
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