Lexington, MA

Home Value Update for Lexington MA Through September 2009

According to Zillow.com, the sale prices of single family homes have fallen 4.3% in the last 3 months to August. The current mean listing price of homes for sale on the market in Lexington, MA, is $610,000. Below is a chart of the trend of prices of homes that sold in Lexington, MA, in the past year through August 2009:

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

Get a Free List of Websites of Government and Bank Foreclosure Listings in Lexington, MA

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

Are you looking for a home mortgage loan in the Lexington, MA area?

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

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

Home mortgage loans in Lexington:

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

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

• We help Lexington 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 Lexington, MA!

The Mortgage Interest Rate Lock Advisory for Lexington MA for November 2, 2009

Here are some of the events affecting mortgage interest rates today in Lexington, MA.

What the Mortgage Backed Securities Market is Doing Today:

The price of the FNMA 30-Year 4.5% MBS coupon opened at 101.09 this morning - down 3/32 from Friday'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 101.06 - 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 be about the same in price this morning as compared to Friday.

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

Recent Activity in Mortgage Backed Securities:

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

• Institute for Supply Management for October - the index increased more than 3 points from 52.6 in September to 55.7 for October. Analysts were expecting a reading of 53.0. This index measures manufacturer sentiment, on employment, production, new orders, supplier deliveries, and inventories. A reading above 50.0 indicates an expanding factory sector. This indicates that more manufacturers are reporting they are expanding rather than contracting. However, this report had no impact on the mortgage market or mortgage interest rates this morning.

In other news, construction spending jumped 0.8% in September, much more than the 0.2% decline that was expected, and follows a 0.8% increase in August. The spending increase was led by a 3.8% surge in private residential outlays. However, private nonresidential spending fell 1.8%.

The pending home sales index rose 6.1% in September to its highest level in almost three years. According to the National Association of Realtors (NAR), "The Pending Home Sales Index, a forward-looking indicator based on contracts signed in September, rose 6.1 percent to 110.1 from a reading of 103.8 in August, and is 21.2 percent higher than September 2008 when it stood at 90.9. The gain from a year ago is the largest annual increase on record, and the index is at the highest level since December 2006 when it was 112.8."

According to Lawrence Yun, the chief economist at NAR, the momentum is understandable. "What we're witnessing is a rush of first-time buyers trying to beat the expiration of the tax credit at the end of this month," he said. "Home values will stabilize sooner rather than over-correcting. That, in turn, will mean wealth stabilization for the vast number of middle-class families and lay the foundation for a durable economic recovery."

What's Happening With Mortgage Interest Rates Today:

Low to moderate volatility. Overall, this week's economic reports and the FOMC meeting will cause volatility to the stock markets 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 the best available mortgage interest rates for your situation in Lexington, MA!

If you are interested in energy efficiency go to the Lexington Energy Fair today at the Lexington Depot from 11-4. And since I can't be there please let me know how it was. Thanks! Go to their website for more details: www.lexgwac.org