Consumers Are Not So Confident!

Consumers Confidence came out lower at 105.4 which caused a rally in our rates. If they hold on Wednesday rates may drop .125 % lower. The big news will be employment (or the lack of it) on Friday. The Feds are watching for signs of a strong economy which would give them a reason to raise rates. Home prices are still dropping so enjoy the ride and get the home you need at the right price and the right rate and fees.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 one of the highest rates in the country on their savings account, with no minimums, no fees.

All is Steady This Week So Far !

Housing Starts were up but Building Permits were down so we feel this is a wash for us. CPI was in line so the stock market hit 12000 today. Our rates have come down a little but not anything like they were. We feel rates have a lot of room to go up but very little room to go down. The trend is more likely for upward movement as rates have been very low for a long time. As long as we do not see too much Inflation we will be fine. As soon as Inflation rears its ugly head watch out! Housing still is coming down so shop hard and the deal will happen. 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 one of the highest rates in the country on their savings account, with no minimums, no fees. www.rateinformer.com

Home Sellers are starting to get the Picture

As Homes sit on the market the sellers are now starting to realize that they need to adjust (lower) their prices to get some action on their home. Buyers are very carefully working their way though the listings and finding the sellers who ARE aware of the market and pricing their homes with the current trend. Real Estate Agents are having a difficult time trying to convince the sellers they need to price their home correctly. Sellers can be very stubborn and live off old market news. When you read of interest rates or home prices in the paper or on the news it is old news many times by the time it get published. Rates are starting to move up but not fast. Keep looking and you will get the good deal you want. There is a lot news this week that could change rates so be ready for a move in rates www.rateinformer.com

Rocky Times Ahead ?

With Inflation at 2.5% in the last August to August Year do we have anything to worry about? Some may say not really but think about it. Even at 2.5% per year a $20,000 car would cost nearly $23,000 just counting the Inflation factor not any other labor or parts cost increase. On a $200,000 home it add $5000 per year just for the inflation factor! Add that to everything else you buy and you get the point. What if it rises to 3-4 % per year as it has many times in the past. The Feds have every right to be worried and so should you. If you are getting 5% on your savings you really are are only getting 2.5%. We feel rates will move up into the 7% range before too long and even at that they will still be "low" by past standards. Some of the home price drops will help wash out the inflation factor and possible rate increases so keep looking for that 'perfect' home. You need good credit scores to get the best rate.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 one of the highest rates in the country on their savings account, with no minimums, no fees. www.rateinformer.com

The Feds say "They are Still Worried"

The Feds said they are still very concerned about Inflation and it appears they are not going to lower rates as some traders thought. Wishing rates down will not work. The economy still shows signs of trouble as the numbers keep coming in mixed. More people working ,less spending, oil prices are up, no down, etc. The economy has had a good long run but it cannot continue forever. There will be a huge slowdown if the housing market continues it downward trend in pricing. Rates have been low a VERY long time and they are due for a upward trend with Inflation in sight as business tries to improve their profits by raising prices to cover their upward labor and medical costs. The feds may just know a little more than we give them credit for by raising rates and then suddenly lowering them. That does not make sense. If they lower rates so soon it would appear they were wrong to raise them so much in the first place. Happy home hunting with prices coming down daily and rates still on the low side. You need good credit scores to get the best rate.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 one of the highest rates in the country on their savings account, with no minimums, no fees.

Turmoil in the Marketplace

Rates are moving up about .125 -.250 from the lows. Is the economy really doing better? That is the big question. There are still signs of the housing market getting weaker which makes this a very good time for home buyers but not so good for home sellers. We hope we do not see too much weakness in the labor sector because if people are not working they will not by a home no matter what the price is. The Feds are watching very closely to the economy. Is it slowing down or falling down? They want a soft slowdown so we do not have a recession. Be careful when shopping for your mortgage. There is a lot fraud still occurring as you can read from our news feeds. Shop carefully and you will be happy you did. You need good credit scores to get the best rate.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 one of the highest rates in the country on their savings account, with no minimums, no fees. www.rateinformer.com

Who Is On Your Side ?

It seems at times when you are house hunting there is no one there that really want to help YOU. It appears they are justing looking out for Their own interest. But if you look around and search hard enough you can and will find that GREAT REAL ESTATE AGENT & that Great MORTGAGE BROKER or LOAN OFFICER that is honestly going to try to assist you to get you the home you want and at the Interest Rate and Price you want. It may take some time to do this but it will be well worth it. Talk to some of your friends who have went though the same home buying process and get some of their advise. Make a lot of phone calls and see if the person is really listening to you when you are telling them what you are looking for or are they trying to push you in another direction that suits their interest rather than yor own. Some Real Estate Agents try to push their OWN listings on you because they get more commission. That would be great IF they have a home you want but if not move on if they are not listening to you when you tell them want you are looking for. Rates are low and Home Prices are still coming down to more realistic levels in most areas so happy house hunting! 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 5.05% on their savings account, with no minimums, no fees. www.rateinformer.com

Who Is On Your Side ?

It seems at times when you are house hunting there is no one there that really want to help YOU. It appears they are justing looking out for Their own interest. But if you look around and search hard enough you can and will find that GREAT REAL ESTATE AGENT & that Great MORTGAGE BROKER or LOAN OFFICER that is honestly going to try to assist you to get you the home you want and at the Interest Rate and Price you want. It may take some time to do this but it will be well worth it. Talk to some of your friends who have went though the same home buying process and get some of their advise. Make a lot of phone calls and see if the person is really listening to you when you are telling them what you are looking for or are they trying to push you in another direction that suits their interest rather than yor own. Some Real Estate Agents try to push their OWN listings on you because they get more commission. That would be great IF they have a home you want but if not move on if they are not listening to you when you tell them want you are looking for. Rates are low and Home Prices are still coming down to more realistic levels in most areas so happy house hunting! 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 5.05% on their savings account, with no minimums, no fees. www.rateinformer.com