The federal government has agreed to continue to buy mortgage backed securities (MBS) to keep rates low. This makes it affordable for home owners to sell and upgrade their existing home or first time homebuyers. When the feds stop buying MBS then rates are likely to go up making that home upgrade or first home unreachable. It is my opinion that if you are an existing homeowner and want to make the move to upgrade, do it NOW. Sure you will lose on the sale of your home since the value has dropped but in exchange you will buy a nicer home for less and secure an amazing rate.
Opportunities like this don't come around every day. In this case only about every 70 years!
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Remember the frenzy of buying homes and everyone buying at the top? Well, buy at the bottom before the frenzy drives up home values and makes that nicer home unreachable! For an MLS list of homes for sale you may find an agent or contact the following: Charlotte Area - Diane Aurit Cary/ Raleigh Area - Craig Rutman Wake Forest - Leesa Finley
Don't miss the boat!
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This day in history: In 1790 Washington DC became the official seat of the United States Government

In 1951 JD Salinger's Catcher in the Rye was Published.

Ever wonder if a refinance will be worth your while? What about finding out how much you can afford? How long will it take you to break even on closing costs? Well fret no more! No need to search all over the internet and deal with annoying pop ups!
All of the calculators you could possibly ever want or need is right here Mortgage Calculators
(If you are a real estate agent reading this keep that link under your favorites just in case you need it!)
What are the steps to home ownership? Watch this informational video that should help get you started!

Okay, so now you are wanting to buy a new home. Be careful! There are things that you can do to NOT get your loan approved. If you want to know what they are then click this link: Buyer Don'ts
What are the rates doing these days? I couldn't tell ya about "these days" but this is where they are today!
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Want to view properties in the Raleigh Cary area? Click here for MLS Want information on properties in the Charlotte area? Click here and request an MLS link
My services include property & casualty insurance, personal budgeting, financial planning, retirement planning strategies, sales training and real estate contract review. Visit my website: www.nevinhomeloans.com Licensed to broker loans with over 300 lenders including Bank of America, Wells Fargo, Citimortgage, Met Life, Fifth Third Mortgage, Flagstar Bank, ING, Lehman Brothers, Luther Burbank, Provident, Suntrust, US Bank and many more. Find a home with our network of professional real estate agents interviewed and selected for their extensive knowledge and expertise! Send us an e-mail with the city and state. nevin@nevinloans.com You may also call me (888) 206-5781 x 1017
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Good news is bad news in the world of mortgages. Several large companies have exceeded earnings expectations which means interest rates will rise. How does that work? Simply put, when the economy looks good Wall Street Investors buy stocks and sell bonds to try and make bigger profits. Selling bonds makes interest rates go up. When the economy looks bleak rates improve because Wall Street Investors sell stocks and buy bonds as a safer option.
Good financial news = higher rates
Bad news = lower rates.
Since many economists think that the worst is over, you better get scootin' or be prepared to pay a lot more per month for the same house.
Have a great day!
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Are you planning to move to Astoria? Are you planning on moving to Seaside? Clatsop County? Picture, courtesy of Elleda Wilson of Photografpix
To maintain my reputation I only work with the best. I suggest you do the same! Jenni Clark RE/MAX River & Sea Astoria OR E-mail jenniclark@riverandsea.net Website: www.riverandsea.net Cell (503) 440-1968
My services include property & casualty insurance, personal budgeting, financial planning, retirement planning strategies, sales training and real estate contract review. Visit my website: www.nevinhomeloans.com Licensed to broker loans with over 300 lenders including Bank of America, Wells Fargo, Citimortgage, Met Life, Fifth Third Mortgage, Flagstar Bank, ING, Lehman Brothers, Luther Burbank, Provident, Suntrust, US Bank and many more. Find a home with our network of professional real estate agents interviewed and selected for their extensive knowledge and expertise! Send us an e-mail with the city and state. nevin@nevinloans.com You may also call me (888) 206-5781 x 1017
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Jumbo Rates - there are two types of Jumbo rates 1) Traditional Jumbo and 2) Conforming Jumbo. Traditional Jumbo rates are much higher than Conforming Jumbo rates because they are purchased by private investors in the bond market. Conforming Jumbo loans are purchased by government sponsored entities Fannie Mae and Freddie Mac and therefore considered "safer". As a result their rates are lower.
Because of the varied information it is difficult to list the rates for jumbo and conforming jumbo loans on my blog. Therefore we ask that you please call in for these rates.
Traditional Jumbo loans do not have loan limits per se, except at the lenders discretion. Some traditional jumbo loans are in the millions.
Conforming Jumbos are limited by the county you live in using the FHA limits for California https://entp.hud.gov/idapp/html/hicost1.cfm but will never exceed 729,750 in California regardless of county.
Have a great day!
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To maintain my reputation I only work with the best: Need a North San Diego agent who has earned the title of Realtor? http://www.kimcarlsonhomes.net Here is a little more info on Kim: Kim Carlson's marketing strategies, expertise, knowledge, and dedication to her clients, have afforded her the ranking in the top 1% of Realtors in the Nation and a proven leader in San Diego County. Kim has engaged in the Real Estate Profession continuously since 1987. She possesses the skills to help you succeed with your next Real Estate transaction. Happen to be in the neighborhood? Visit our San Diego office 8998 Rio San Diego Drive Suite 365 Ask for Nevin
My services include property & casualty insurance, personal budgeting, financial planning, retirement planning strategies, sales training and real estate contract review. Visit my website: www.nevinhomeloans.com Licensed to broker loans with over 300 lenders including Bank of America, Wells Fargo, Citimortgage, Met Life, Fifth Third Mortgage, Flagstar Bank, ING, Lehman Brothers, Luther Burbank, Provident, Suntrust, US Bank and many more. Find a home with our network of professional real estate agents interviewed and selected for their extensive knowledge and expertise! Send us an e-mail with the city and state. nevin@nevinloans.com You may also call me (888) 206-5781 x 1017
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Hate to say it but Rates are getting worse this morning. The weekly jobless claims report was the trigger after yesterdays bond rally. Jobless claims dropped by 52,000 to 565,000. Analysts had predicted a drop of only 4,000. Continuing claims however continued to increase to a new high, 6.833 million from 6.72 million last week. So that hurt!
As claims increase the job market remains flat at best. There seems to be controversy as to the future of our economy but many believe that the worst is behind us and that a recovery is on its way.
$11 billion of 30 year bonds will be sold today beginning at 1PM. There has been a strong demand for these treasuries which is good news for us real estate professionals.
The International Monetary Fund stepped in yesterday with its view that the world economy is starting to pull out of the recession. However they state that the recovery will be weak.
To get the best interest rate call a mortgage broker!
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*Rates are subject to change due to market fluctuations and borrower's eligibility. |
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