Lewiston, ME

Home Value Update for Lewiston ME Through September 2009

According to Zillow.com, the listing prices of single family homes and condos have been flat in the last 3 months. The current mean listing price of homes for sale on the market in Lewiston, ME, is $149,500. Below is a chart of the trend of listing prices of homes for sale in Lewiston, ME, in the past year through September 2009:

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

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

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

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

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

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

Home mortgage loans in Lewiston:

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

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

• We help Lewiston 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. Click here to get the best available rates for your situation in Lewiston, ME!

The Mortgage Interest Rate Lock Advisory for Lewiston ME for October 13, 2009

Here are some of the events affecting mortgage interest rates today in Lewiston, Maine.

What the Mortgage Backed Securities Market is Doing Today:

The price of the FNMA 30-Year 4.5% MBS coupon opened at 101.19 this morning - down 3/32 from Friday's close.

The FNMA 30-Year 4.5% MBS coupon is currently trading at 101.22 - up 1/32 from it's opening (as shown by the blue line). Last Friday, MBS closed down 19/32 for the day, and was 10/32 down for the week at 101.28. 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 0.25% - 0.50% worse 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:

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

• There are no economic reports scheduled for release today.

The 30-year Bond auction yesterday did not go as well as 10-year auction on Wednesday. This led to a selling in mortgage backed securities yesterday afternoon that carried over to 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.

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. Expect mortgage interest rates to rise following the lackluster sale of the 30-year Bond yesterday.

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.

For the best mortgage interest rates in Lewiston, ME, click here.

I am finding that today's market is more of a "normal" market. A few years ago just about anyone could walk into a mortgage company and get a home loan with little to no money down and marginal credit. Today with the foreclosures of those loans and adjustable rate mortgages, there has been some tightening of the reins as far as getting a home loan. However, it is still possible to receive a home loan with a great rate with little to no money down. If you are thinking of buying in today's market, I would not hesitate to sit with a mortgage broker and a realtor like myself and see what your options are. It is a great time to buy and there is nothing to be afraid of! Give me a call for a free consultation today!