Alex Tooke

by KERRI PANCHUK

Thursday, September 22nd, 2011, 9:32 am


The Federal Reserve's plan to reinvest principal payments on some bonds into mortgage-backed securities is already contributing to the nation's record low mortgage interest rates, Bankrate said Thursday.

Bankrate said the Federal Open Market Committee seems to be taking direct aim at mortgage rates by shifting $400 billion from short-term holdings into long-term government bonds. The program, which begins Oct. 3 and runs through June, will involve longer-term Treasury securities with remaining maturities of six years to 30 years, and will be financed through the sale of shorter-term Treasurys with maturities of three years or less.

"This program should put downward pressure on longer-term interest rates and help make broader financial conditions more accommodative," the FOMC said in a statement following its two-day meeting.

Analysts also said anemic economic growth and European debt fears are keeping investors on the sidelines.

Rates are unlikely to increase until mortgage refinancing and purchasing activity picks up, Bankrate said.

"In order to get the most economic impact out of low mortgage rates, the pool of prospective refinancers needs to be expanded. Deeply upside-down homeowners, those with second liens or mortgage insurance, and lender concerns about buyback liability are all formidable impediments to refinancing," according to the firm, which aggregates rate data from across the country.

The Freddie Mac primary mortgage market survey showed the average rate for a 30-year, fixed-rate mortgage remained unchanged this week at 4.09%, while the 15-year, fixed rate dropped one basis point to a new record low of 3.29%.

Meanwhile, the five-year, Treasury-indexed hybrid adjustable-rate mortgage averaged 3.02%, up from 2.99% last week and down from 3.54% a year ago.



The one-year, Treasury-indexed ARM averaged 2.82% this week, up from 2.81% a week earlier and down from 3.46% last year.

"A sluggish economy and investor concerns over the European debt markets left mortgage rates largely unchanged this week," said Frank Nothaft, vice president and chief economist for Freddie Mac.

"Manufacturing activity in both the New York and Philadelphia regions contracted in September," he said. "Moreover, the Federal Reserve board reported that households lost nearly $150 billion in net worth in the second quarter, representing the first quarterly decline in a year."

Bankrate data show the 30-year FRM at record lows for the fifth consecutive week. The average rate for a traditional mortgage fell to 4.29%, from 4.32% last week, while the 15-year FRM declined to 3.42% from 3.44%.

In addition, the 5/1 ARM decreased to 3.05% from 3.07% last week.

Reposted From: DenverRealEstateBlog.net

Many people today have a little trouble with their credit… or perhaps have had a bankruptcy in the past. In this day in age our credit is who we are and basically defines what we can do. Fortunately there is help for people that need assistance to repair their credit to a much desirable level.

The company Continental Credit provides comprehensive credit repair services in Denver or nationwide to help those that need assistance rebuilding their credit levels. This company has created a program that adjusts to each client’s needs.

According to their standards they are known for tailored:

• Erroneous and false information removal or correction
• Consumer Credit Report Consulting
• Consumer Credit Score Consulting
• Personal Attention - not automated

They pride in having a live person to assist you at all times rather than created an automation system that doesn’t tailor to your needs. A person’s credit is unique to the individual so should be treated on an individual basis!

Most companies today have automation processes that prevent them from addressing the individual needs of each customer at ideal levels. To cut costs they also end up outsourcing their customer service to other countries where their representatives read scripts that treat all customers the same way.

Continental Credit believes every single person’s situation and credit history is unique. They understand that the most efficient way to repair credit is through personalized support and strategies. According to their website:

“We have moved beyond standard credit repair, offering comprehensive credit consulting solutions tailored to an individual's needs, not a corporate standard. At Continental Credit, we welcome all who need change, and we have the solution to many credit conundrums.”

Credit repair services are also very affordable. Here is their billing standards stated on the website:

“We charge a credit report consulting and analysis fee of $189 at the end of the consultation. The fee is paid only after the entire credit report has been discussed and all accounts have been detailed in their entirety. Then, if errors are found and you wish to have us assist you in correcting them you can choose to enroll into our monthly service program. The fee for the monthly service is $59, which is billed in arrears. We will only bill you at the end of each month after all services have been performed in their entirety (prices vary by state).”

Check out their website for more information as well as FAQs:

http://www.continentalcreditonline.com

Or call Toll-Free: 1-866-488-2066

Though we at MileHighHomeGuide.com & DenverRealEstateBlog.net do not endorse Continental Credit we provide this information for your use to help repair your credit.

Reposted From: DenverRealEstateBlog.net

Check out MileHighHomeGuide.com for all your Denver and Colorado real estate needs!

Looking for fun things to do in the Denver area this fall? Check out the Denver Botanic Gardens Corn Maze. This year's 8-acre corn field maze has the theme titled Native Roots | Modern Form (a tribute to the Allan Houser exhibit currently showcased throughout the Gardens on York Street) and features Native American artwork. You will also be able to view the full design from a 15-foot tall illuminated bridge that overlooks the entire maze. There is even a mini-maze designed for the youngsters as well!

On top of all of that there are more fun things to do like hay rides, pony rides, and even an area to have a little picnic while you're visiting the the corn maze.

As the Botanic Gardens is looking to stay green this year and save on paper they are requesting you print the map of the maze beforehand. Below is the design for this year. Click to download the full PDF version and bring it along!



Here is the map to the Denver Botanic Gardens Corn Maze at Chatfield along with directions to get there:



Denver Botanic Gardens at Chatfield 8500 Deer Creek Canyon Road Littleton, CO 80128 303-973-3705 Fax 303-973-1979

To Denver Botanic Gardens at Chatfield from I-25:

• Merge onto C-470 west, go 11.40 miles
• Take the CO-121 / Wadsworth Blvd. exit. Keep left at the fork in the ramp.
• Turn left onto S. Wadsworth Blvd. Proceed south for 1/2 mile to the stoplight at Deer Creek Canyon Road.
• Take first right onto Deer Creek Canyon Road and drive 1/4 mile
• Denver Botanic Gardens at Chatfield is on your left at 8500 Deer Creek Canyon Road

Location & Hours Every Friday, Saturday and Sunday from Sept. 9 through Oct. 30 at our Chatfield location. Fridays 4 – 9 p.m. Saturdays Noon – 9 p.m. Sundays Noon – 6 p.m.

Admission $10 Adults $8 Member, Student, Seniors (65+) $6 Child (ages 3-12) $4 Child Member Free for children 2 and under

For more information about that maze check out the Botanic Garden's website: http://www.botanicgardens.org/content/corn-maze

Reposted From DenverRealEstateBlog.net
Brought to you by: MileHighHomeGuide.com

Hey DENVER! Do you or someone you know live in a cool renovated loft or condo or an unconventional home in Downtown?

If you have recently renovated a space and think it deserves to win a generous grand prize, then HGTV is looking for you!!

Home & Garden Television's BANG FOR YOUR BUCK is new and improved, and currently looking for enthusiastic homeowners in the DENVER area RIGHT NOW!

Each episode will tour three similar renovations at similar price points in the same city. HGTV's Vern Yip and a local real estate expert will determine how the renovations impact each home's value, and the renovation they determine got the biggest bang for its buck will win a generous grand prize! Throughout the show, we'll provide viewers with expert advice, answers on remodeling values, and inspiring ideas for design.

Taping will begin shortly, so if you're interested, please apply immediately! **Deadline to request an application Tuesday September 20th

Request an application by contacting Sami Hartman at:
shartman@highnoontv.com
or (303) 872-8709

Bang For Your Buck is produced for HGTV by High Noon Entertainment in Denver, CO
www.HGTV.com/bang
www.highnoonentertainment.com

Reposted From: DenverRealEstateBlog.net

We've created a list of the best-priced properties in the area. This list includes motivated sellers, bank-owned properties, short sales, and foreclosures. These properties will go fast so set up a viewing with us as soon as possible. You can contact us at info@milehighhomeguide.com.

Single Family Home Best Buy List – 2011-09-10

Condo/Townhome Best Buy List – 2011-09-10