Mortgage bonds worsened last week as Eurozone default fears eased abroad, and expectations for a domestic stimulus increased. Mortgage rates rose for the first time in three weeks last week, pushing conforming and FHA mortgage rates in Arizona off their all-time, historical lows. Rates were at their lowest Tuesday morning, then rose through Friday's afternoon closing. Markets open this week with an eye toward the world's central banks. In the Eurozone, central bankers (continue to) discuss the debt burdens of Greece and whether a coordinated intervention is necessary. Without it, some economists believe that the nation-state will default on its sovereign debt, which would then create additional financial stress within other nations in the region. Italy is included among those countries.
In the United States, central bankers are making equally-important choices. The Federal Open Market Committee will emerge from a 2-day meeting Wednesday and is expected to announce new stimulus for the U.S. economy. Since 2009, the Federal Reserve has twice stimulated the economy via an open-market, bond buying initiative. The programs created demand for mortgage bonds which, in turn, lowered mortgage rates for U.S. homeowners. If the Fed chooses this path a third time, expect for mortgage rates to fall in Scottsdale. If the Fed's sponsored stimulus is something else, however -- or if the Fed choose to do nothing -- mortgage rates may rise. There is economic data due this week, including the Existing Home Sales and Housing Starts report, but it will be the world's central bankers that sit in spotlights. Expect volatile mortgage rates this week. Wall Street can only guess what governments will do to stimulate their respective economies and can lead to wild swings in pricing. The "safe play" is to lock a rate while we're still near all-time lows. Once rates reverse higher, they're expected to rise quickly. Feel free to call anytime weekday or weekend for any questions or comments.
Mortgage markets improved last week as a weakening Eurozone and questions about the U.S. economy sparked a global flight-to-quality. Conforming and FHA mortgage rates improved for the second week in a row. The storylines should sound familiar by now. They are the same ones that have dictated the path of mortgage rates since April 2011. As a result, according to Freddie Mac, mortgage rates across Arizona and nationwide are now at an all-time low.
Not in 50 years of tracking mortgage rates has pricing been so favorable. Last week's holiday-shortened week didn't begin well for rate shoppers in Scottsdale. Rates moved higher on the expectation of additional economic stimulus from two separate parts of the government -- the Federal Reserve and Congress. Wall Street held high hopes for Ben Bernanke's address to the Economic Club of Minnesota, and for the President's address to a joint session of Congress. It expected Fed Chief Bernanke to reveal clues about the Fed's next move; and it expected the President to unleash a massive jobs creation program that would put more Americans to work.
Both outcomes would have harmed mortgage rates as money flowed into stocks. However, neither happened. Bernanke kept mum on the Federal Reserve's options and the White House announced a jobs program smaller in scope than was expected. Mortgage rates fell throughout the day Thursday then received a big boost Friday. Amid rumors of a pending Greek default and the potential credit downgrades of several Eurozone banking groups, safe haven buying picked up and drove mortgage rates down. Markets open this week with rates lower than they've ever been in history. There isn't much new data set for release this week so market expectations will continue to set the direction in which mortgage rates go. If concerns for a Eurozone default rise, mortgage rates should fall. Conversely, if Eurozone chatter settles, mortgage rates should rise. For now, mortgage rates remain at all-time lows and should not be taken for granted. If you see a rate that makes sense for you, consider locking it in. For any questions or comments please feel free to call anytime weekday or weekend at 480-221-9721.
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Keller William : 4621 E. Chandler Blvd - Phoenix AZ 85048 |
zip codes that can affect your decisions. When you are considering a move, especially to this Paradise Valley Luxury Home in 85253 where there are a lot of different areas with separate zip codes, talk to your realtor. Find out which zip codes near this Paradise Valley Luxury Home in 85253 have lower crime rates, lower prices for insurance coverage, and which areas have more family orientated neighborhoods. You don't want to base your entire moving decision for this Paradise Valley Luxury Home in 85253 on zip codes, but you will want to consider it so you don't end up with a horrible surprise when you get settled into your new place and realize crime rates are higher and your insurance rates are through the roof on this Paradise Valley Luxury Home in 85253 . Please consider having zip code questions ready for your realtor on this Paradise Valley Luxury Home in 85253 . If you have children in their teens, the schools around thisamenities a good elementary school has, like outstanding curricular programs, high student achievement, award winning teachers and programs, lots of opportunities for kids, accredited preschool programs all benefiting your young children when you move into this Paradise Valley Luxury Home near Cherokee Elementary School. We want our children to become caring responsible citizens who will contribute to our neighborhoods and community of this Paradise Valley Luxury Home near Cherokee Elementary School . To achieve these goals, it is important for all students to develop positive school habits, including regular attendance, coming to school on time, completing class work and homework, following rules and procedures, and learning basic life skills, this goal can be attainable by living within this Paradise Valley Luxury Home near Cherokee Elementary School . These are all important behaviors that contribute to your child becoming successful besides giving them the best opportunity by living in this Paradise Valley Luxury Home near Cherokee Elementary School .
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Ahwatukee Realty and Property Management : 21300 N. John Wayne Pkwy #120 - Maricopa AZ 85139 : 480-893-1461 |
zip codes that can affect your decisions. When you are considering a move, especially to this 2 Bedroom 2.5 Bathroom Home in 85048 where there are a lot of different areas with separate zip codes, talk to your realtor. Find out which zip codes near this 2 Bedroom 2.5 Bathroom Home in 85048 have lower crime rates, lower prices for insurance coverage, and which areas have more family orientated neighborhoods. You don't want to base your entire moving decision for this 2 Bedroom 2.5 Bathroom Home in 85048 on zip codes, but you will want to consider it so you don't end up with a horrible surprise when you get settled into your new place and realize crime rates are higher and your insurance rates are through the roof on this 2 Bedroom 2.5 Bathroom Home in 85048 . Please consider having zip code questions ready for your realtor on this 2 Bedroom 2.5 Bathroom Home in 85048 . If you have children in their teens, the schools around thisamenities a good elementary school has, like outstanding curricular programs, high student achievement, award winning teachers and programs, lots of opportunities for kids, accredited preschool programs all benefiting your young children when you move into this 2 Bedroom 2.5 Bathroom Home near Kyrene De La Sierra. We want our children to become caring responsible citizens who will contribute to our neighborhoods and community of this 2 Bedroom 2.5 Bathroom Home near Kyrene De La Sierra. To achieve these goals, it is important for all students to develop positive school habits, including regular attendance, coming to school on time, completing class work and homework, following rules and procedures, and learning basic life skills, this goal can be attainable by living within this 2 Bedroom 2.5 Bathroom Home near Kyrene De La Sierra. These are all important behaviors that contribute to your child becoming successful besides giving them the best opportunity by living in this 2 Bedroom 2.5 Bathroom Home near Kyrene De La Sierra.
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Reising Mortgage Team : 15111 North Pima Rd - Scottsdale AZ 85260 : 602-476-7427 |
zip codes that can affect your decisions. When you are considering a move, especially to this Scottsdale Home with Big Backyard where there are a lot of different areas with separate zip codes, talk to your realtor. Find out which zip codes near this Scottsdale Home with Big Backyard have lower crime rates, lower prices for insurance coverage, and which areas have more family orientated neighborhoods. You don't want to base your entire moving decision for this Scottsdale Home with Big Backyardon zip codes, but you will want to consider it so you don't end up with a horrible surprise when you get settled into your new place and realize crime rates are higher and your insurance rates are through the roof on this Scottsdale Home with Big Backyard . Please consider having zip code questions ready for your realtor on this Scottsdale Home next to Kyrene De Las Lomas Elementary School . If you have children in their teens, the schools around this
amenities a good elementary school has, like outstanding curricular programs, high student achievement, award winning teachers and programs, lots of opportunities for kids, accredited preschool programs all benefiting your young children when you move into this Scottsdale Home next to Kyrene De Las Lomas Elementary School. We want our children to become caring responsible citizens who will contribute to our neighborhoods and community of this Scottsdale Home next to Kyrene De Las Lomas Elementary School. To achieve these goals, it is important for all students to develop positive school habits, including regular attendance, coming to school on time, completing class work and homework, following rules and procedures, and learning basic life skills, this goal can be attainable by living within this Scottsdale Home next to Kyrene De Las Lomas Elementary School. These are all important behaviors that contribute to your child becoming successful besides giving them the best opportunity by living in this Scottsdale Home next to Kyrene De Las Lomas Elementary School.
Licensed Mortgage Professional Certified Real Estate Instructor
A Michigan native, John relocated to Arizona for the warm weather and to attend Arizona State University where he obtained a degree in Economics. After graduation he worked for Merrill Lynch as a Financial Consultant.
He has been in the mortgage industry for the past 8 years. He and his team are pleased to be partnered with AmeriFirst Financial for all the tools and resources they provide his realtor partners. He is one of AmeriFirst's Top Ten Producers. John has a passion for teaching which makes him a perfect fit for educate2earn. As a licensed mortgage professional and certified real estate instructor he loves sharing timely, relevant information with you to help you grow your business.
John loves sports and fitness. He is a Boys & Girls Club of Scottsdale Committee Member where he is actively engaged in raising money for the annual Uncorked & Unplugged event. Outside of work he loves spending time with his son, Brody and is a great dad.
April 28, 2011
Hey John,
I just want to say thanks again for all your help with the purchase of our home. This is my 3rd home purchase and by far was the quickest and easiest to get thru. We had a very short amount of time to close on the house after the bank approved the short sale, you and your team stepped up and got it done. Awesome Job to you guys!!
Toby Lee
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February 22, 2011
John,
I would like to take this opportunity to compliment you and your team of professionals who worked on refinancing my home. My goal was to take advantage of the low rates and reduce my house payment. I had called several mortgage brokers and you were the first to call back. You didn't wait a day or send an email. You were on the phone with me within an hour taking care of business. You and your team were available, even on weekends, answering my questions and guiding me through the process. The end result was that my house payment is now below a thousand dollars. I live in a very desirable part of Phoenix in a very nice house. To have the payment I have, thanks to you, is not only amazing but gives me a little more assurance in these uncertain financial times. My thanks to you and your team for your professionalism and personal caring in handling this important financial decision that will have a lasting and positivie effect on me and my family.
Sincerely,
Sandor J. Rogoff
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June 8, 2010
Dear AmeriFirst,
As a note of recommendation and thanks; we thank John Reising for the splendid job that he performed for my husband and I for processing our mortgage loan quickly and precisely.
During the process of selling our home and purchasing a short sale home, John was on top of all of the various tasks and paperwork in order to allow us to move into our new home. This was a huge relief to us, knowing that was could have been faced with moving into temporary housing due to title processing.
John's personal advice, support and service along with competitive rates sold us as a repeat client.
Sincerely,
Linda Prell
Very Happy Customer
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September 9, 2010
I have great confidence in recommending John to my clients. First and foremost, I know that he will answer their calls, listen to learn how he can best help them find the best loan program for their situation and he will follow through with regular contact and great customer service. I have found John willing to take the time to counsel potential Buyer's who might have might have blemish marks on their credit reports and show them what they can do to more easily qualify for a mortgage or even a lower rate. He's willing to take the time to do what's in the best interest of the home Buyer, not just take a loan application and move on. My clients report that John's rates and terms are generally in line with the best they will find. Most have told me that they would be willing to pay a little more than the lowest rate they might find on the internet because they know that John is close by and always available. John is always at the top of my list of recommended Lenders.
Jeff Gerber ABR,GRI,SRES,REALTOR
The Empowered Team LLC
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September 3, 2010
"Thank you! When it looked like the deal was going to fall apart, you really came through!!! Thanks for being on the top of your game! I love it when people earn my business and you did exactly that. I look forward to doing more business with you in the future. - Eric Nyquist-TheNyquistGroup.com
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August 13, 2010
I have been a Buyer's Broker here in Arizona since 1978 and I am delighted to have found John Reising of Amerifirst Financial. John has been working with my clients for a long time and is caring, consistent and completely thorough in all that he does. He treats all parties of the transaction with respect and most importantly, he gets the job done and done right.
Joani Frankel
The Joani Frankel Team
John Hall and Associates
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August 19, 2010
John Reising is the true professional when it comes to his business and helping home buyer's obtain a new mortgage. John continues to educate himself on a daily basis and is very knowledgeable with what is happening today in our complex real estate market. He is up to date on the latest mortgage programs, and shares his information with the real estate world to make us all better at what we do.
Most importantly John delivers what he promises. If you are looking for a straight answer, friendly smart customer service and someone who can get the job done then John is the Mortgage Professional you are looking for.
Linda M. Lesser
Keller Williams Arizona Realty
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