Auburn, ME

Home Value Update for Auburn ME Through September 2009

According to Zillow.com, the listing prices of single family homes have increased 6.0% in the last 3 months, while listing prices of condos have remained flat. The current mean listing price of homes for sale on the market in Auburn, ME, is $159,000. Below is a chart of the trend of listing prices of homes for sale in Auburn, ME, in the past year through September 2009:

If you're looking for a home or condo to purchase in Auburn, ME, or in the surrounding area, then try this home search.

You can still buy a home with no money down with the USDA Rural Development Home Loan program. With the FHA Mortgage program, you can purchase a home with as little as 3.5% down. When you're ready to buy a home, find out how much home or condo you can afford to purchase in Auburn, ME, or in the surrounding area.

Get a Free List of Websites of Government and Bank Foreclosure Listings in Auburn, ME

There are a number of websites that contain free listings of government and bank foreclosed homes in Auburn, ME. These websites contain descriptions, color photos, and addresses of the foreclosed homes for sale in Auburn, ME. And, most of these websites have government and bank foreclosure listings nationwide.

There's no charge to search the foreclosure listings on any of these websites, and there's no 7-day free trial period either. Virtually all of these websites do not require any personal information to get access to the government and bank foreclosure listings. You can access these foreclosure listings anytime you want and as often as you want - free of charge!

Get your own directory of free websites of government and bank foreclosures in Auburn, ME. While registration is required to get access to the directory of free websites of foreclosures, the information will be provided to you instantly, and is completely free-of-charge and without any obligation!

FHA, VA, and USDA Rural Development Loans in Auburn, ME

Are you looking for a home mortgage loan in the Auburn, ME area?

Then you've come to the right place! Northeast Community Mortgage is a mortgage broker serving Auburn, ME, and many of the surrounding areas.

When you decide to buy a home or refinance a mortgage in Auburn, ME or in the surrounding area, your search for a home mortgage loan should start and end here. With so many lenders to choose from in the greater Auburn area, you should choose one you can trust to find the mortgage loan that will best meet your needs.

As a mortgage broker, we help our clients obtain a loan from the lender who has the terms that best matches their needs. In terms of mortgage programs, we specialize in FHA, VA, and USDA Rural Development loans. We also offer fixed and adjustable rate conventional and conforming jumbo loans. So, before your first house-hunting trip, whether it's in Auburn or in any of the surrounding areas, we'll help you select the best financing program for your needs.

Sure, there are dozens of big bank mortgage lenders nationally, but you need a lender in Auburn. Why? Because we know Auburn and the surrounding areas. We know the local real estate agents, appraisers, inspectors, and so much more.

We also have state-of-the-art technology that makes the mortgage loan process as easy and fast as possible, all while delivering personal customer service that can't be beat. We'll also take care of all the details, and make your transaction as smooth and worry free as possible.

Our services and financial resources enable us to make loans other lenders do not. We pride ourselves on being a mortgage broker with experience. We are also well-respected within the wholesale loan community, as evidenced by our relationships with lenders such as Provident Funding, Wells Fargo, and Flagstar, to name a few.

Don't gamble your family's largest investment with a big name lender that may not know Auburn. Choose us, the Auburn mortgage and loan specialists!

Home mortgage loans in Auburn:

• We'll help you find the perfect home loan or mortgage.

Refinance mortgage loans, or refinancing your current home in Auburn:

• We help Auburn families lower their mortgage payments and/or lock in lower interest rates for their home loans every day.

FHA Loans, VA Loans, USDA Rural Development Loans, and so much more!

• No matter what type of home loan you need, we're ready to help.

We'll give you the personal attention you deserve and treat you as a valued customer. Get the best available mortgage rates for your situation in Auburn, ME!

The Mortgage Interest Rate Lock Advisory for Auburn ME for October 16, 2009

Here are some of the events affecting mortgage interest rates today in Auburn, ME.

What the Mortgage Backed Securities Market is Doing Today:

The price of the FNMA 30-Year 4.5% MBS coupon opened at 101.58 this morning - up 3/32 from yesterday's close.

The chart below shows today's price trend of the FNMA 30-Year 4.5% coupon:

The FNMA 30-Year 4.5% MBS coupon is currently trading at 100.56 - down 1/32 from its opening. Remember, on mortgage backed securities (MBSs), as the price goes down, the yield goes up - and so do mortgage interest rates. I expect that mortgage interest rates will essentially be the same in price today as compared to yesterday.

Economic Reports, News, and Events Affecting Mortgage Interest Rates Today:

• Industrial Production Data for September - there was a 0.7% increase in industrial production last month. Analysts were expecting am increase of 0.2%. This follows a 0.8% increase in August. This report provides us with an indication of manufacturing strength by tracking orders at U.S. factories, mines and utilities. A larger than expected increase normally would drive mortgage interest rates up, but it appears the data had no impact on the mortgage market this morning.
  
  
• University of Michigan's Index of Consumer Sentiment Preliminary Reading for October - the reading for October came in at 69.4, well below expectations. Analysts anticipated a reading of 74.0, up slightly from the final reading of 73.5 in September. This index measures consumer willingness to spend. This report also appears to have no impact on the mortgage market or mortgage interest rates this morning.

There are a number of quarterly earnings reports scheduled for release this week that could affect the stock markets. If the earnings reports are good or better than expected, then you can expect traders to sell bonds and mortgage backed securities and move those funds into stocks. If, on the other hands, earnings reports are worse than expected, then you can expect traders to sell stocks and move those funds into bonds as a safe-haven.

There are a few economic reports scheduled for release next week, but only one of them is considered to be important. The rest are either of moderate or low importance. Look for more details on next week's events on Monday.

What's Happening With Mortgage Interest Rates Today:

Moderate volatility. Overall, expect the mortgage market to be heavily influenced mostly by the stock markets today.

My Mortgage Interest Rate Lock Advice for Today:

If I were considering financing/refinancing a home, I would...

• Lock if my closing was taking place within the next 7 days
• Lock if my closing was taking place between 8 and 30 days
• Float if my closing was taking place between 31 and 45 days
• Float if my closing was taking place between 46 and 60 days

This is only my opinion of what I would do if I were financing a home. It is only an opinion and cannot be guaranteed to be in the best interest of any or all other borrowers.

Get today's mortgage interest rates for your situation in Auburn, ME.

Join us & the American Red Cross for a Blood Drive in Auburn Maine.

Friday, August 21st at the Auburn Mall 9am to 3pm

***Free T-shirts & coupon for a carton of Friendly's Ice Cream!***

***Even a chance to win Red Sox tickets!***

Sponsored by: Keller Williams Realty Mid Maine 34 Center Street Auburn ME 04210

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