Saco, ME

Home Value Update for Saco ME Through September 2009

According to Zillow.com, the listing prices of single family homes and condos have remained fairly flat in the last 3 months through September 2009. The current mean listing price of homes for sale on the market in Saco, ME, is $259,000. Below is a chart of the trend of listing prices of homes for sale in Saco, ME, in the past year through September 2009:

If you're looking for a home or condo to purchase in Saco, 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 Saco, ME, or in the surrounding area.

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

There are a number of websites that contain free listings of government and bank foreclosed homes in Saco, ME. These websites contain descriptions, color photos, and addresses of the foreclosed homes for sale in Saco, 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 Saco, 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 Saco, ME

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

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

When you decide to buy a home or refinance a mortgage in Saco, 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 Saco 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 Saco 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 Saco. Why? Because we know Saco 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 Saco. Choose us, the Saco mortgage and loan specialists!

Home mortgage loans in Saco:

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

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

• We help Saco 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 interest rates for your situation in Saco, ME!

The Mortgage Interest Rate Lock Advisory for Saco ME for November 3, 2009

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

What the Mortgage Backed Securities Market is Doing Today:

The price of the FNMA 30-Year 4.5% MBS coupon opened at 100.97 this morning - up 1/32 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 100.81 - down 6/32 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 be 0.125% - 0.25% worse in price this morning as compared to yesterday.

Recent Activity in Mortgage Backed Securities:

The chart below shows the price trend of the FNMA 30-Year 4.5% coupon over the past 30 days:

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

• Factory Orders Report for September - the report revealed a 0.9% increase in new orders. Analysts expected a 1.0% increase. This follows a 0.8% decline in August. This report is similar to the Durable Goods Orders released last week, except it includes orders for both durable and non-durable goods. This report has little or no impact on mortgage interest rates this morning.

In other news, the Federal Open Market Committee (FOMC) begins its two day meeting today. The FOMC is the policy-making arm of the Federal Reserve, and determines what the short-term interest rate (or federal funds rate) should be. The Fed announces whether it will change the fed funds target rate at the end of each FOMC meeting.

It's expected the Feds will leave interest rates unchanged. However, traders will be looking at the post-meeting statement for any indication of when the Fed may make a move. The meeting will adjourn at 2:15 PM ET tomorrow, so look for any market reaction to the statement to come during afternoon hours.

There is an expectation that the Fed may alter its policy statement to take away any perception that the Fed will keep interest rates low for a "considerable" period by removing the word "considerable." That will allow the Fed to have more flexibility in determining short-term interest rates the future. That could have a negative impact on the mortgage market and may lead to higher mortgage interest rates.

What's Happening With Mortgage Interest Rates Today:

Moderate to High Volatility. Overall, the single most important day is Friday with the release of the Employment Situation Report. In addition to the economic reports and the FOMC meeting, I believe activity in the stock markets will be volatile which in will have an impact on trading of mortgage backed securities. If you have not yet locked in your mortgage interest rate, please proceed with caution and maintain contact with your mortgage professional.

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
• Float 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 Saco, ME.

October 2, 5:30-7:30 p.m. "Faces of Literacy, Voices of Courage," portraits of individuals whose lives have been changed by achieving literacy, photographs by Melissa DiPaola, Jessica Perro and Diane Wren, Opening Reception, organized by the Literacy Volunteers of Maine, Saco Museum, 371 Main Street, Saco. FMI: 207.283.3861 ext 114, www.sacomuseum.org.

October 3, 9 a.m.-4 p.m. Designing Women, annual show and sale with local women artists to benefit the Louis T. Graves Memorial Children's Library, $2/donation, Consolidated School, Route 9, Kennebunkport. FMI: www.designingwomen.org.

October 3, 11 a.m.-3 p.m. Equest's 5th Annual Family Farm Festival, puppets, magic and music, plus wagon rides, pony rides, farm games and food concession, to benefit the programs of Equest Therapeutic Riding Center, $6/all ages, Spring Creek Farm, 73 Drown Lane, Lyman. FMI: 207.985.0374, www.equestmaine.org.

October 3, 8 p.m. Graham Parker, a first time performer at Jonathan's Ogunquit, $22.50, Jonathan's Restaurant, 92 Bourne Lane, Ogunquit. FMI: 207.646.4777, www.jonathansrestaurant.com.

October 4, 9 a.m.-3 p.m. 15th Semi-annual Open House and Brewing Demonstration, information on making beer, wine, cider and mead, free, Shapleigh Hops Craft Brewing Supply and the Southern Maine Homebrewers, 37 Grant Road, Shapleigh.
FMI: 207.432.3677, www.shapleighhops.com.

October 4, 1-5 p.m. BIG ART, featuring works greater than 6-feet for public and corporate display, showcasing paintings by Jayne Adams and prints by S. Patricia Benson, final day of fall exhibition, free, Barn Gallery, Shore Road and Bourne Lane, Ogunquit.
FMI: 207.646.8400, www.barngallery.org.

October 4, 2-5 p.m. 52nd New England Square and Round Dance Convention's 2010 Kick-Off Dance, refreshments, fun and laughter plus a pot of gold, Biddeford Intermediate School, 334 Hill Street, Biddeford. FMI: www.nesrdc.org.

To check out the current lakefront property listings in the area just click below:

Search for lakefront properties in the Sanford Lakes Region $150k to $300k

Search for lakefront properties in the Sanford Lakes Region $300K to $450k

Search for lakefront properties in the Sanford Lakes Region $450k to $700k

Search for lakefront properties in the Sanford Lakes Region over $700k