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Mortgage Market Update

click for larger imageThe rate markets are under pressure again this morning. The recent spike in interest rates adds more confirmation to our forecasts that the lows in the interest rates markets are now in place and rates are unlikely to fall to new lows. The recent stampede to the safety of US treasuries became excessive; the run down in rates was mostly in treasuries but mortgage rates benefited as the outlook for the US economy hit new lows in July and August. A lot of concern the US economy would double dip and fall back into text book recession sent investors, both domestic and foreign, to the safety of bonds.  There just isn't much room left for improvement, but a lot of room for rate to go up.  I would Strongly advise capitalzing while you can.

Want to know more on how the Mortgage Market directly effects mortgage rates or need an explanation of the candlestick chart above? Send us an email and we'll gladly provide an in depth article.  Realtors, ask about a detailed presentation on the Mortgage Market at your next office meeting.

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Monday
Nov092009

2009 Property Tax Bills are out - Need Help?

DateMonday, November 9, 2009 at 10:27AM

Many homeowners’s choose to pay their property taxes annually and avoid the monthly escrows.  Why would someone do this?  Well, there are two reasons:  1) You control your own money instead of the mortgage company and 2) Your monthly payment is lower (principle and interest only).  But now the property tax bills are out and those homeowner’s have thousands of dollars in taxes due.  2009 has been a tough year for most everyone and many will find themselves unable to pay these taxes.

I come bearing good news!  It may be possible for you to refinance your mortgage to a lower interest rate and have your 2009 tax bill rolled into the new loan to avoid the cash out of pocket!  Whew, that’s a sigh of relief for many!

As always, feel free to contact me directly and I will personally prepare a refinance scenario for your review.  It may just make your Christmas a bit brighter!  I’m here to help your family so let me know what your needs are.

AuthorPamela Crim | Comments Off |
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