Kathryn Vatsula

Looks like Bonds and home loan rates are feeling the heat and pressure from several fronts. Inflation fears are creeping into the economy and as inflation is harmful to bonds that means that home loan rates will move higher. While home loan rates are incredibly low, it is clear this won't last much longer. Also adding pressure to Bonds and home loan rates is the Fed's plan to ration out their remaining purchases of Mortgage Backed Securities. The Fed has purchased around $950 B year to date out of the $1.250 T allotted for the program, which is now set to expire March 21, 2010. This means the Fed will be averaging about $14B a week in purchases, a lot less than the $25B or so they have been doing until recently. And, anytime demand for an items slows down, including MBS, the price goes down. This means HOME LOAN RATES will be moving higher.

FHA Streamline Refinance can REDUCE YOUR MONTHLY PAYMENT by $50.00 to $200.00 dollars. NO Appraisal, NO bank statements, NO paystubs or W2's!! If your Interest Rate is 6% or more you may be a candidate... Minimum Credit Score of 620.00 required. Estimated Closing days of 30 days or less.

When shopping for a home loan, one of the best avenue's to finding a good lender is by referral. Ask your local Realtor for a few names of lender's they may recommend. Ask family, friend and co workers who they used and find out how their experience was. Look for a loan officer who is local,working in your community and has experience. In today's market it is important to make sure you work with a loan professional. Ask how long they have been in business, spend some time with them, and most importantly have the loan office discuss in detail your good faith estimate. This form will show you prevailing interest rates, costs associated with the loan and the loan payment. This form should be explained to the buyer in detail. Buying a home can be a fun and exciting process, let your Loan Officer and Realtor work hand in hand to make this happen for you.