Rates have Dropped a full .25% in one week!!

Rates have dropped .25% in the last week and home prices are still coming down with a glut of homes on the market in many areas. This is really a great time if you are looking to buy a home or refi your existing mortgage. Do not be lulled into thinking rates are going to go even lower. This is a short term rally in the bond market because it appears that JUST MAYBE the Feds may NOT raise rates when they meet August 8. They may give us a break until September 26 when they meet again. Of course this is all just speculation and that is why we have this rally! Happy house hunting and mortgage shopping. Do your homework. Get the lowest rates and fees possible.The first thing is that you need to have good credit scores. You can check your credit scores online at My Fico.Com or Equifax.
Next, you need to have some savings for a 5% or more down payment. Do you have a good way to save for a down payment? We highly recommend Emigrant Direct. They pay 5.15% on their savings account, with no minimums, no fees. www.rateinformer.com

CD's at 6% and Mortgage Rates at 6.5%. Whats up with this picture?

As the Feds have raised rates our CD's have gone up but our Mortgage rates have risen very little. As the world crisis continues Investors put their money in bonds which our rates tie into for the market. They feel our bonds are more stable than other countries or other forms of investments. The stock market is still shaky and investors are pulling out of the real estate market. That money has to be invested elsewhere in a "safe" place. Enjoy this break but remember this cannot continue. The banks will not pay you 6% for a CD and then lend it back to you at 6.5%. As we see more cracks in our economy our bonds will appear to be not as "safe" as they thought and rates will have to go up to attract more investors. It could happen very fast so be careful. Housing prices are down big time in many areas. Enjoy this nice time to get the house you want. Get the lowest rates and fees possible.The first thing is that you need to have good credit scores. You can check your credit scores online at My Fico.Com or Equifax.
Next, you need to have some savings for a 5% or more down payment. Do you have a good way to save for a down payment? We highly recommend Emigrant Direct. They pay 5% on their savings account, with no minimums, no fees. www.rateinformer.com

Are Things Looking Better ? Not!

The Feds hinted today that they may be getting close to the end of rate hikes if Inflation appears to be in control. The economy seems to be slowing down so they feel a little more comfortable about the overall picture in the US. That does not wash away world concerns that affect us in a very big way. Oil prices are still working their way upward and can and will cause damage to the housing market. Keep looking and shopping for just the right home. There are now more than ever to choose from in many areas. Get the lowest rates and fees possible.The first thing is that you need to have good credit scores. You can check your credit scores online at My Fico.Com or Equifax.
Next, you need to have some savings for a 5% or more down payment. Do you have a good way to save for a down payment? We highly recommend Emigrant Direct. They pay 5% on their savings account, with no minimums, no fees.
Make offers on the homes that would leave you some room if prices still come back down some more. Do not let your home buying time be one of trouble. Shop right and it can be a enjoyable purchase. www.rateinformer.com

Are Things Looking Better ? Not!

The Feds hinted today that they may be getting close to the end of rate hikes if Inflation appears to be in control. The economy seems to be slowing down so they feel a little more comfortable about the overall picture in the US. That does not wash away world concerns that affect us in a very big way. Oil prices are still working their way upward and can and will cause damage to the housing market. Keep looking and shopping for just the right home. There are now more than ever to choose from in many areas. Get the lowest rates and fees possible.The first thing is that you need to have good credit scores. You can check your credit scores online at My Fico.Com or Equifax.
Next, you need to have some savings for a 5% or more down payment. Do you have a good way to save for a down payment? We highly recommend Emigrant Direct. They pay 5% on their savings account, with no minimums, no fees.

Make offers on the homes that would leave you some room if prices still come back down some more. Do not let your home buying time be one of trouble. Shop right and it can be a enjoyable purchase. www.rateinformer.com

A Little Bit of the Unknown Lies Ahead

With all the problems going on in the world the markets do not have any direction except downward for now. The "experts" are still saying everything is fine and the housing market is still good but the reality is there is a fairly large and very troubling slowdown in our housing market in many of the previously "hot" areas. People are now sitting by the sidelines because of concern for their jobs and a fear of a slowdown in the economy. It is a very justified concern and we recommend you shop hard and bargain hard for that home if you are in the market. Get the lowest rates and fees possible.The first thing is that you need to have good credit scores. You can check your credit scores online at My Fico.Com or Equifax.
Next, you need to have some savings for a 5% or more down payment. Do you have a good way to save for a down payment? We highly recommend Emigrant Direct. They pay 5% on their savings account, with no minimums, no fees.
Make offers on the homes that would leave you some room if prices still come back down some more. Do not let your home buying time be one of trouble. Shop right and it can be a enjoyable purchase. www.rateinformer.com

A Slow Drift back Down.

Rates drifted back down slowly Thursday and Friday. We still have big issues with world problems and oil to deal with. Rates will move back and forth until August 8 when the Feds meet again. www.rateinformer.com

What now After The Feds meeting?

With indications of a still strong economy rates went up today. The fear is there are more Fed rate hikes ahead on August 8. Rates are getting close to 7 % but are still very low compared to previous years. Stay focused if you are purchasing a home and try not to chase rates. They may move up a little more but should do so slowly. www.rateinformer.com