Here is a snapshot of this morning’s bond market:

And here is how lenders are reacting so far:

72 lenders are lowering rate this morning and 17 are raising them. The number of lenders increasing rates will more than likely rise if the market continues it’s current direction.

• The bond market is currently experiencing a rally that started back on April 21st. It is currently trading above it’s trend line, and we expect it to correct itself and come down to the trend line in the near future. It looks like that is already happening today.
• Investors are like to take their profits and run today, in light of how well the market has been doing this week.
• Germany has approved a bailout package, which should ease concern for investors, causing lower demand for U.S. bonds.

All of these items lean towards a not-so-good day for bonds, so therefore, rates. Hope you got your rate locked in yesterday!

Have a great weekend.

Here is this morning’s snapshot of the bond market:

And here is how lenders are reacting as of 8:00am:

So far this morning 30 lenders are lowering rates and only1 lender is raising them.

There are several reasons that the bond market is doing so well this morning.

• 1. The DOW is getting hammere this morning as fears about Europe continue
• 2. Jobless claims spiked, revealing that the economy may not be doing as well as everyone hoped
• 3. Inflation numbers came out and are the lowest they’ve been since 1966 – that is great news for rates

So when you combine a sluggish economy with zero inflation, along with concerns for investors about Europe’s stability, you get an incredible bond rally.

If you have a rate to lock in, now is a great time to do it and take advantage of this opportunity!

Good morning. Here is today’s snapshot of the bond market:

And here is what lenders are doing:

72 lenders are lowering rates and 13 lenders are raising them.

• Jobless claims stayed flat – the weak job report is helping rates stay low today.
• All eyes are on the 30 year bond auction tomorrow and the retail sales number. If there is a demand for the 30 year bonds and retail sales are low, that will be  good for rates, and if the opposite is true, rates could increase tomorrow.

Enjoy the sun today!

Here is a snapshot of the bond market today:

And here is how lenders are reacting:

97 lenders are lowering rates and 14 lenders are raising them.

• The 3 year mortgage bonds auction was good yesterday , but not as good as expected. The market will tread lightly today waiting to see how the 10 year auction will go today. If it goes well, that is good for rates, if it doesn’t, expect rates to go up.
• Sellers cut home prices over $25 billion as the tax credit ended April 30th. This is a sign that the Fed may need to continue artifically keeping rates low if the housing market is to improve.

Have a great week.

As of today, you have 30 days to have mutual acceptance on a home purchase and still receive the homebuyers tax credit, which is set to expire soon. In order to qualify for the credit, you must have mutual acceptance on the home you are purchasing by April 30th, and it must close by June 30th.

According to the opinions in the following article, most people think that this will be the end of the tax credit. There isn’t much hope that it will be extended.

http://curiouscapitalist.blogs.time.com/2010/03/30/extending-the-home-buyer-tax-credit-up-is-down-and-down-is-up/ 

If you are hoping to purchase a home using either the first-time homebuyers credit of $8,000, or the move-up buyers credit of $6,500, give me a call today to get pre-approved right away. You don’t want to miss out on this one!

It’s already that time again! Don’t forget to set your clock ahead 1 hour tonight!

 It’s also time to get off the fence if you’re considering purchasing a home. Have your family’s needs changed?

Do you need more bedrooms or a bigger yard – or just more space?

Interest rates are rising, and even with the lost equity in your current home, it may make financial sense to make that move-up now while you still have some equity left for a down payment.

Each situation is unique – if you’d like a customized analysis, I’m happy to provide you with one.

You’ll be able to see just how much a move would save/cost you versus how much it will save/cost for you to stay in your current home.

 Let me introduce you to the “SBD or Seller Buydown Program”. This progam can dramatically effect how much home you are able to purchase. This is invaluable information for you to have, especially if you are thinking of waiting before buying. The Fed’s program to keep interest rates low is ending at the end of March. The average interest rate (over a 48 month period) before the Fed put their program into place was 6.250%.

See what a difference that can make?!

These payments are principal and interest only – they do not include taxes, homeowners insurance or mortgage insurance

Please give me a call if you’d like to take a look at your own financial situation and see what your options are.

As always, there is no obligation.