Happy New Year!

Happy New Year!

Well I’d say it’s about time… this week we are watching the geo-political environment with the assassination of Pakistani opposition leader Benazir Bhutto. This is a great example of external forces and their effect on mortgage market. After loosing some ground in mortgage bonds earlier in the week we are back above the 50-day moving average which is good for pricing. New home sales were reported at 647,000 which came in less than expected at 715,000. This could also be a result of home sales which are typically a bit slower before the holidays.

Keep in mind this information is nationally based. There has been a pick up in loan applications and I hear a buzz in the market regarding contracts flying about. Have a VERY Happy New Year, be SAFE, and I look forward to speaking with you soon!

-Sean

Oh by the way, I’m NEVER too busy for any of your purchase or refinance mortgage referrals and I’ll be sure to treat them like family.

Happy Holidays!

Good Afternoon and Happy Holidays!

Mortgage pricing is up slightly this week as investors moved money out of bonds after the PCE-Core report came in today slightly above expectations…. Okay okay what does this mean? The PCE measures consumer spending and is a report to measure inflation. We’ll be watching inflation to make sure it doesn’t get too far out of control. But if inflation continues to be a problem rates will continue to go up. If you are working with clients be sure to pass along this information so they can get locked in at the low of 2 year mortgage rates.

**QUICK TIP** CANADIAN FINANCING 70% NO VERIFIED INCOME NO CREDIT REPORT.

Give me a call if I can help. I’m never too busy for any of your referrals.

8 Day Loan Close

This week the mortgage market proved to be volatile when we got news Tuesday about the Fed cut. With the Fed fund and discount rate cut by .25% this has pulled money out of bonds and into stocks this is driving mortgage pricing slightly higher today. Over the next week or two, rates should again stabilize and turn lower. Mortgage applications are at a two year high this week as refinancing has become a popular choice for many homeowners. If you have a friend or client interested in refinancing out of a pay-option ARM or Interest Only payments and wants a 30 year fixed mortgage I’d be happy to meet with them. I’m never too busy for any of your referrals! Have a great weekend!

-Sean La Rue

P.S. Need help getting a deal closed? This week I closed a loan in 8 days from loan application to funding! Call me to get your deals closed…

President Bush Announces Industry Agreement to Freeze Sub-Prime Mortgage Rates

President Bush Announces Industry Agreement to Freeze Sub-Prime Mortgage Rates

Pros and Cons of Bi-weekly Payments

Refinance Your ARM Mortgage

Now that some of the dust from the credit crisis has settled, many borrowers are in serious need of a mortgage review. We take our job as mortgage planners very seriously and would welcome the opportunity to do a 10-minute mortgage review to determine if there are other options you should consider regarding your home financing.

If you currently have a 3-, 5-, 7- or 10-year fixed-rate or adjustable loan OR you have purchased in the last few years, it would be well worth your while to give us a call to review the options available to protect your financial future. It could be time to secure a longer-term fixed-rate option so that you are shielded from future market fluctuations. Also, if property values decline due to credit tightening, it may impact your ability to secure new financing.

Give us a call to discuss your options today. We value our relationships and want to ensure that we are doing everything possible to help our borrowers make the right lending choice for their future.

Many analysts still believe that the credit crunch is far from over and that additional tightening may occur. So it is critical for you to be proactive TODAY in order to protect your financial future!

We are here to help and would welcome your call.