Eric's Daily Rate Watch for November 5, 2009 - 8:09am PST

4.875% on 30yr Conv - (with 1/2pt origination OR 5.000 % w/0pts)

4.750% on FHA 30yr - (5.000% w/no origination)

5.125% on 30yr Investment Property

3.500% 5yr ARM interest-only

5.500% 30yr Fixed Jumbo

4.375% 5yr ARM Jumbo (to $1million)

STILL TIME TO CLOSE PURCHASES BEFORE NOV 30^th - if you call right away!

BIG CHANGES COMING IN CREDIT-QUALIFYING GUIDELINES - Watch for my update this afternoon on the FannieMae underwriting release coming in December. This WILL affect EVERYONE and ability to get loans!

GET YOUR PAST FHA CLIENTS TO REFI NOW!! - The rules for Streamline FHA refinances are changing in a big way very soon. As of now, we just go off their original loan amount, with no appraisal and no income/asset documentation. They can also LEAVE an existing 2^nd mortgage in place to unlimited loan-to-value. VERY easy to lower their rate. Starting Nov 17^th, they will have to document their income, will have to own the home for a certain time, have cleaner credit, have a max limit on LTV, and more.

LOOK IN YOUR CLOSED DATABASE for anyone that bought using FHA and call/email them about refinancing. With these rates and loose guideline for the next two weeks only, it's the best chance they will every have to see a rate reduction, with minimal cost. Have them call me right away to evaluate their benefit level.

PRODUCTIVITY IS UP AND NEW UNEMPLOYMENT CLAIMS ARE DOWN - Strong productivity is great for the Bond Market and rates, because when companies produce more supply, it keeps inflation in check. On the flip side, another 512,000 people filed for unemployment claims ... better than expected, but can't be good for the economy. So a mixed bag today, and all eyes are on Friday's big unemployment report.

Refinance to 105% LTV OR HIGHER !! - FINALLY we seeing some relief as a result of all the bailouts that will affect those of you who pay your mortgages on time, but have lost value in your homes. Available right now is a plan to allow refinance of a 1^st mortgage (no cashout) up to 105% loan-to-value. If you have a 2^nd, that will remain in place, regardless of loan-to-value. So, if you are current on pmts, and couldn't refi before due to lost value, this may work for you.

HOW TO GUARANTEE THE BEST RATE - In order to lock anything, we need to have income/asset info on file. Purchases require Sales Contract. Currently, we have historic low rates. If we lock today, and rates dip significantly while we're processing the loan, we can look to renegotiate with our investor to give you the lower rate. If you have a lower target rate, then apply today (get info on file) and we'll be ready if rates dip. As a courtesy, if rates swing lower 4-6 months after you close a loan with us, we can in many cases do a no-cost refi to the lower rate. Don't miss a great opportunity!

Apply Online 24/7 at www.GoNorthwestLoans.com/applyNow.html.

Or call 503.698.5801 and do it by phone.

Here's a quick snapshot of today's most popular programs:

Conforming - (up to $417k)

30yr fixed 4.875 (4.969apr) - Owner-Occupied - 5.000% with zero origination

15yr fixed 4.250% (4.412apr) - Owner-Occupied - 4.375% with zero origination

30yr fixed 5.125% (5.342apr) - Investment 25%down 1.5pts - or 5.250% at 1pt

5/1 ARM i-o 3.500% (3.415apr) - fixed for first 5yrs - interest only minimum pmt

30yr FHA 4.750% (5.437apr) - 5.000% with zero origination - similar for VA or USDA

Jumbo - (over $417k)

30yr fixed 5.500% (5.621apr) - up to $500k at this rate

30yr fixed 5.750% (5.902apr) - up to $600k at this rate

30yr fixed 6.125% (6.296apr) - up to $700k at this rate

30yr fixed 6.375% (6.527apr) - up to $850k at this rate

30yr fixed 6.625% (6.798apr) - up to $1,500,000 at this rate

5/1 ARM 4.375% (4.688apr) - fixed for first 5yrs - up to $1million

NOTE - These rates are just a sampling of the thousands of programs we have available from over to fit virtually any situation. The above-listed rates assume a purchase loan with excellent credit (740+), at or below required loan-to-value ratio (varies by program, call for details), and required income documentation. This is PAR pricing with standard origination and underwriting fee. Very competitive rates are also available for borrowers needing a higher loan-to-value, and those with lower credit scores and/or challenges. Rates are subject to change without notice. Please email or call us for accurate quotes and pre-approvals.

Current Product Offerings:

Purchase, Refinance, Construction, Land loans, Lot loans, Farms, Commercial, Investment Property, Single & Multi-family, Business acquisition & refinance, Conventional, FHA, VA, USDA, Reverse, Cash-out, No-Cost refi's available

and most of these loans can be done on our in-house bank lines (faster and cheaper)

Have a successful day ... call or email me with any scenarios!

ERIC