All Quiet on A Smooth Friday

After a rough week with rates climbing higher by .125 or so things have leveled off. Indicators today were in line with expectations.We still see higher rates ahead. Its pretty hard to be getting over 5% on a 1 Yr. CD and getting a 30 Yr Mortgage at 6.25. Not too much of a spread for the financial Institutions. Stay sharp and always remember when you are shopping for a mortgage when you show the Lender you have some understanding of how things work they will "sharpen their pencil" and usually give you the best deal they can. Knowledge is POWER!! Enjoy our site and please let us know how it worked for you.

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Up,up and Away!

Rates are still on the move up Today. We are seeing the effect of the Feds rate increase coming into play along with higher Oil Prices. Please remember though our rates are still very low compared to past rates just a few years ago. Remember to work your best deal on your mortgage. Do not think it is all the same any place you go. Getting a mortgage is no different than shopping for any other item. Do your home work, find a fair Lender who will work with you. You can get that great rate if you work on it. The market is still on your side with low rates. www.Rateinformer.com

Not If But How High Will Mortgage Rates Go?

Our rates are continuing to move higher this Morning after everyone digest the news from yesterday. We certainly can see the Feds will continue to do whatever is needed to slow the economy down to prevent the bad side of INFLATION. The only problem we see is part of the slow down (a big Part) is the housing market. As rates continue up they will take a bite out of the housing market each time. Of course that is all part of what the Feds want. We need to remember that Mortgage Rates are very low and even with them going to 7.5% they would still be very low by normal guidelines. Yes the borrower has been "spoiled" by these great rates but higher rates do not mean the end of buying homes. Is it possible we might have to buy a little more moderate home? www.rateinformer.com

Feds raise Rates and Maybe More to Come!

The market did not like the news it received this afternoon but it was not unexpected. You cannot wish rates down. Mortgage rates went up nearly .125 today alone. It could just be a reaction to the Feds or it could be a the real thing (which it should be). Up to this time Mortgage Rates have not been going up in relationship to the Fed raises. Sooner or later they have to play catch up. In the past it has happened in a matter of days. Use our methods and your new Knowledge to get a fair rate with fair fees. Try it on some of the sites posted here and let us know the results.

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What will happen to Rates After the Feds meet Tuesday?

At this time it certainly appears that they will raise rates again. The real question is what will they say if anything about future hikes. We are in a world economy where economic news from other places in the world affect our rates much more than ever before (Oil Prices,currency,etc). Our economy certainly appears to be slowing down and if the slowdown in housing continues it could come to a halt. Only time will tell if the Feds need to continue to slow our economy down or is it enough at this time. They are very concerned about the possibility of INFLATION pushing its way into our pockets. Its a very fine line that we do not have full control of any longer. Our rates currently have no other place to go but UP at this time.

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Is There a Housing Bubble?

What a silly question. Its already here! Any time everybody wants to get in on a deal to make a fast buck its usually already too late. It was a wild ride up and for some of the latecomers the real estate market will be a wild ride down. How about all those great 100LTV Loans that were done and still are being done. What LTV will they be at next year? If you bought a home at the top of this market at $250,000 with lets just say 5% down and next year you need to sell and the market has leveled back (not crashed) to more reasonable values and your home dropped back a small amount in value, say 7-9%, you will not only lose your downpayment but will have to PAY to sell your home.(Don't forget there are cost involved to sell your house such as real estate fees etc. ) Do you start to see the big picture? $250,000 minus 9% equals $227,500 minus Real estate commision (6%) equals $213,850. Not too pretty of a sight is it? If you are purchasing a home now do it with the right intent. Is it a roof over your head? Then time will come to your rescue.
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Where are Mortgage Rates Going?

That is the magic question. We feel there is no room for lower rates at this current time. Actually we are amazed that they have held this low for so long. If you are considering a mortgage stay alert for changes. They usually are slow and subtle but can pop up fast at times. You can get the rate you want. Sometimes you just have to work for it. Find that fair and reasonable Broker and you can get your mortgage needs taken care of. Please let us know your results of using the information on this site.
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Are Higher Mortgage Rates Ahead?

Leading Indicators were down at -.2% this A.M. With the Feds meeting next Tuesday we foresee higher rates ahead. Rates at still at 6.125 with NO points and No Origination Fees for A clean $200,000 30 Yr Fixed rate Loan. Some areas of the country you may be able to get a 6%. Do your homework and save your money. Knowledge can give you the edge you need.

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Where does the poor borrower get help?

There are thousands of sites for the brokers and they all have their rates posted but there is very little info for the borrower to see "real" current rates. If the borrower has that information he now can have a level playing field to work with. Many brokers do not want the borrower to see what he or she gets back from the Lender. The borrower has the right to know. After all it is HIS money that he is spending. It is true you cannot cover everyones product or every type of loan but for the good credit (620+) standard loan which is the vast majority of product done the borrower can get the best rate he can by getting the knowledge of how the system works. How do you as a borrower feel about that? Do you know as of today the current rate for a 30 Year is 6% with NO points or NO origination Fees. Knowing that this rate is possible gives you the ability to be able to work with a broker and get the best deal possible. It is a fact there are brokers that will work for a fair fee and treat you right. As we have said before this is for a standard conforming loan and may not fit all borrowers. It would be nice to hear from the borrowers on this subject. The borrower deserves to have all the knowledge he can to help him make a wise decision

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