Matthew Royer

Good Morning,

This week brought out some volatility in the interest rates…and after rates took a rise over the past week they are back down this morning. The main reason this morning is due to news spreading that both England and Germany have announced their belief that the economic recovery will take longer than they initially believed.

This caused a gut reaction in the stock market (which we have seen for years, this is a pretty standard reaction) which leads us back to square one with rates holding consistent with last week.

30 Year fixed: 4.625%

15 Year fixed: 4.375%

Matt

Good Morning,

As you will see below, rates are holding steady once again.

In the volatile Twin Cities purchase market, most lenders are now requiring a minimum of a 10% down payment unless the borrower chooses to take what I consider the more expensive FHA option. Yes, there is less of a down payment with FHA, but the additional costs and fees associated with it can end up hurting the borrower in the long run by pushing them into a higher mortgage balance than they would have with a comparable program.

Of course, going from a 3.5% down payment to a 10% down payment is a huge adjustment for most home buyers. Fortunately we have seen a new lender enter the purchase market that is now allowing us to offer a 5% down payment program because of their business relationship with one of the main mortgage insurance companies, whom are the sole company to insure mortgages up to 95% of the purchase price in our market currently.

I won’t get into the complexities of these two options. For a homebuyer who can scrape up the additional 1.5% down payment, this leads to a great opportunity that will put them ahead in the long run on their mortgage, making options to either refinance or sell that much easier in a trying market.

Have a good week.

Today’s Rates:

30 Year fixed: 4.625%

15 Year fixed: 4.375%

Matt

Good Morning, As you will see below, rates are holding steady once again. In the volatile Twin Cities purchase market, most lenders are now requiring a minimum of a 10% down payment unless the borrower chooses to take what I consider the more expensive FHA option. Yes, there is less of a down payment with FHA, but the additional costs and fees associated with it can end up hurting the borrower in the long run by pushing them into a higher mortgage balance than they would have with a comparable program. Of course, going from a 3.5% down payment to a 10% down payment is a huge adjustment for most home buyers. Fortunately we have seen a new lender enter the purchase market that is now allowing us to offer a 5% down payment program because of their business relationship with one of the main mortgage insurance companies, whom are the sole company to insure mortgages up to 95% of the purchase price in our market currently. I won’t get into the complexities of these two options. For a homebuyer who can scrape up the additional 1.5% down payment, this leads to a great opportunity that will put them ahead in the long run on their mortgage, making options to either refinance or sell that much easier in a trying market. Have a good week. Today’s Rates: 30 Year fixed: 4.625% 15 Year fixed: 4.375% Matt

Happy Wednesday!

You will see that rates are holding low thus far into the week. There really isn’t too much on the economic front that has changed.

My wife, Shannon and I were talking last night about the economy last night and brainstorming on a few simple ideas that I think can help almost any business in this atmosphere. Whether you are in a referral industry or even if you work for a company, a great way to keep a company going is by remembering who you know that would help your employer. It all comes down to one key question: Who do you know?

In my business, it comes down to who YOU know? Do you know of another realtor that has had a frustrating closing and needs someone they can trust? Do you know of a friend or family member that might want to look at the options of refinancing? Do you know of someone looking to buy a home that would like someone to walk them through the process? Do you tell them who they need to talk to?

Those are a few elements I would like you to keep in mind when thinking of me and how I can help the people most important to you. Now, what I would also like to know is what questions you would like be to be asking who I know to help you. So let me know. I know that by learning more about the best ways to help you, I have stronger options for helping my clients and friends with any need that comes up.

Have a good week.

Today’s Rates:

30 Year fixed: 4.75%

15 Year fixed: 4.5%

Matt

Matthew Royer
Mortgage Planner

Homes Mortgage
ofc 651 770 0637

cell 612 232 7646
fax 651 766 5201

toll free 888 481 0009

www.MattRoyer.net

Good Morning,

Rates are still holding steady. With the Federal bank continuing their plan of buying Mortgage Backed Securities to keep interest rates low, we should see a continued stability with rates hanging in the 4.75% to 5.25% range for quite some time. This will be especially helpful during periods of the stock market rallying, considering that those day by day rallies tend to have rates rise along with them.

Essentially, the Federal plan has placed a temporary ceiling on how high rates can go, this also means that it will be very unlikely that we will see rates dip much lower than this price point as well unless something drastically changes.

So, in the meantime, I will be enjoying the freedom of sandals while the weather keeps warm enough from day to day. For anyone who hasn’t spent their entire life here, I’m a firm believer that many think I’m crazy but I stick to the belief that after a long winter, any daytime high over 40 is sandals weather.

Have a good week.

Today’s Rates:

30 Year fixed: 4.875%

15 Year fixed: 4.625%

Matt

Matthew Royer
Mortgage Planner

Homes Mortgage
ofc 651 770 0637

cell 612 232 7646
fax 651 766 5201

toll free 888 481 0009

www.MattRoyer.netGood Morning, Rates are still holding steady. With the Federal bank continuing their plan of buying Mortgage Backed Securities to keep interest rates low, we should see a continued stability with rates hanging in the 4.75% to 5.25% range for quite some time. This will be especially helpful during periods of the stock market rallying, considering that those day by day rallies tend to have rates rise along with them. Essentially, the Federal plan has placed a temporary ceiling on how high rates can go, this also means that it will be very unlikely that we will see rates dip much lower than this price point as well unless something drastically changes. So, in the meantime, I will be enjoying the freedom of sandals while the weather keeps warm enough from day to day. For anyone who hasn’t spent their entire life here, I’m a firm believer that many think I’m crazy but I stick to the belief that after a long winter, any daytime high over 40 is sandals weather. Have a good week. Today’s Rates: 30 Year fixed: 4.875% 15 Year fixed: 4.625% Matt Matthew Royer Mortgage Planner Homes Mortgage ofc 651 770 0637 cell 612 232 7646 fax 651 766 5201 toll free 888 481 0009 www.MattRoyer.net

Good Afternoon,

Rates are still trending upwards as they had been last week. The main news is the initial release of information on the Presidential Mortgage Plan* that many have been asking about over the past few weeks.

Will it help homeowners? Only time will tell. The key ingredient I see on whether this will help current homeowners is if their total mortgages add up to more than 105% of their home value. If so, then there currently does not seem to be help for you in this plan. (See: Who is Eligible**)

As we find out more on this plan as we move into the next couple months, I will be sure to share updates for this.

Matt

*http://money.cnn.com/2009/03/04/news/economy/guidelines/index.htm?postversion=2009030414

**http://money.cnn.com/2009/03/04/real_estate/Obama_foreclosure_plan/index.htm?postversion=2009030414