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    Friday, February 29, 2008

    Core Personal Consumption Expenditure Index (PCE)

    Happy Friday! Attached is my weekly rate update check it out!

    This week was a step in the right direction as far as mortgage pricing was concerned. We’ve seen rates come back down about 0.25% across the board when compared to last week. 30 year fixed conforming rate is at 5.75% with 1 point.

    Today, the Core Personal Consumption Expenditure Index (PCE), the Fed's favored gauge of consumer inflation, was reported in line with estimates for the month of January. When inflation is high mortgage rates go up.

    Still no word from HUD regarding conforming loan limit changes; HOWEVER, as soon as I hear what they are I will be sure to send you a special alert!

    Make it a great weekend and remember I am never too busy for ANY of your purchase or refinance mortgage referrals!

    Monday, February 25, 2008

    Caught the flu bug?

    Good morning!

    The mortgage market was still volatile last week with several midday prices changes. Typically banks don’t come out with price changes unless there is a large shift in mortgage backed securities throughout the day. Well, we are seeing that the price of the bond has been moving around quite a bit, and the result: several pricing changes. Check out the newsletter for more information.

    Also, caught the flu bug? Check out ways to prevent getting sick and what to do about it if you are. There are some great tips!

    Talk soon and make it a great week!


    Oh by the way, if you or someone you know is interested in buying for refinancing a home… give me a call or email to cover the options! I’m never too busy for your referrals. Thanks.

    Friday, February 22, 2008

    ***Canadian / Foreign National Financing***

    In the market this week it remains volatile with large gains and losses in mortgage bonds. Last week Bush approved the Economic Stimulus Plan and HUD has up to 30 days to determine the new conforming loan limits. I expect to hear next week or the week after. I’ll keep you informed as soon as that information comes out.

    ***Canadian / Foreign National Financing*** 30% down!! It’s so easy! Call me for details!

    Oh by the way, I’m NEVER too busy for your referrals! Make it a great week!

    Monday, February 18, 2008

    Interest rates are still at a 4 year low!!

    This week’s update talks about why mortgage rates are going up after the Fed cut interest rates. Inflation is definitely a concern as the Fed continues to lower interest rates. Take a look at the 4 month bond graph in the middle of the update. Remember that mortgage pricing takes direction from Bond pricing. As bonds go up mortgage pricing comes down.

    Also, interest rates are still at a 4 year low!! If you need to refinance or are looking to purchase… Call me to get prequalified and see what options you have!

    Let me know if you have any questions about the information provided.

    Make it a great week.


    Sean La Rue's Weekly Newsletter

    Friday, February 15, 2008

    Conforming loan limits are still being reviewed

    Attached is my weekly rate sheet.

    The market remains volatile again this week and looks like there will be no end in sight. This is a result of Richard “Loose Lips” Fisher speaking on inflation and apparently it’s giving all of us a RUN for our money. Since January 22nd, mortgage bonds are down about 175bps, giving up most ground we got in early January.

    Today the 30 year fixed conforming rate is at 5.875%. No, rates aren’t terrible, remind your clients of this!! With favorable housing prices, interest rates, and maximum selection now is certainly the time to buy. Could it be a little better?? Could it be A LOT worse?? Think about it.

    Conforming loan limits are still being reviewed as I have no news of where HUD will finally call the loan limit home. I will continue to keep you informed as I get more information.

    Want to help your buyers get more bang for their buck? With 10% down or more many banks will allow up to a 6% sellers concession for closing costs. Think rates are good now? How would you like to have you or your client locked in at 5.00% on a 30 year fixed? I was able to do this for one of my clients and I can help you and yours as well.

    Oh by the way, I’m NEVER too busy for ANY of your purchase and refinance referrals!!

    Make it a great President’s Day Weekend!

    Tuesday, February 12, 2008

    Richard “Loose Lips” Fisher

    I hope you had relaxing weekend. This week’s update recaps the words of the Dallas Fed President Richard “Loose Lips” Fisher’s comments when he spoke last week. He was speaking on inflation and said it is “spiking.” Mortgage back securities don’t like inflation and that’s why pricing is up slightly at the end of last week. There’s also information about the new Economic Stimulus Plan and how a bill becomes a law. Check out the School House Rock link below.

    Make it a great week!

    Thursday, February 7, 2008

    Economic Stimulus Plan

    Good Afternoon!

    Attached is my weekly rate update.

    Yesterday, the Senate approved, 81-16, an amended version of the Economic Stimulus Plan, which you can read by clicking the link below. Dallas Fed President Richard “Loose Lips” Fisher was speaking in Mexico City and mentioned inflation rising. Remember, if inflation is an issue, mortgage pricing will respond by increasing rates. As a result, this week interest rates are up about a .125%. The good news… we are still at 40 year interest lows!!

    Part of the Economic Stimulus Plan is for to increase conforming loan amounts from $417,000. What’s this mean? For places like Coachella Valley, who have large inventory over the $417,000 price threshold, and for loan amounts between $417,000 and $625,000 now will be considered conforming loans and will decrease by 1.25%!! On a $625,000 loan amount that means a decrease by $505.06 per month on a 30 year fixed and $585.94 per month for a 5 year interest only!! THAT’S A BMW PAYMENT!! Check it out, do the math!! Now’s the time to get buyers off the fence so show them the money! Higher-end homes will be selling and I WANT to be doing your loans!!

    Call me to find out how I can help your clients buy or refinance their home. I’m NEVER too busy for ANY of your referrals!! Make it a great weekend!

    Click to see the Economic Stimulus Plan

    Monday, February 4, 2008

    Do Not Call Registry Reminder

    Hope you had a wonderful Super Bowl weekend! I know I enjoyed most of the commercials. In this week’s update I’d like you to educate yourself on a new practice the medical industry is trying to implement called a MedFICO. This is interesting information and can be found in this newsletter. Stay tuned with more information regarding the upcoming conforming loan limit increase from $417,000 up to $625,000.

    Do Not Call Registry Reminder (I just did it myself and took 30 seconds)
    REMINDER...12 days from today, all cell phone numbers are being released to telemarketing companies and you will start to receive sales calls.

    To prevent this, call the following number from your cell
    Phone: 888-382-1222.

    It is the National DO NOT CALL registry list. It will only take a minute of your time. It blocks your number for five (5) years. You must call from the cell phone number you want to have blocked. You cannot call from a different phone number.


    Oh by the way, I’m never too busy for any of your purchase or refinance mortgage referrals!

    Make it a great week!

    Saturday, February 2, 2008

    Fed cut 0.50%

    This week has once again been volatile, but the good news is the Fed cut 0.50% on the Fed Funds and the Discount Rate. Although not directly tied to mortgage rates, these rates are tied to Prime and are also what the banks are charged by the Fed overnight. Mortgage rates are, however, continuing to trend down right now and with rates at 5.75% on a 30 year fixed at ZERO points, why isn’t it a good time to buy? Buyers are getting off the fence!

    Mortgage bonds were trading higher this morning on the heels of a weak employment report that said non-farm payrolls fell by an estimated 17,000 jobs in January. This news is good for mortgage pricing.

    Stocks are unchanged this morning and are being held down by the lower than expected jobs number--despite the fact that Microsoft Corp is making a bid to acquire the search engine giant Yahoo.

    Attached is this week’s rate update. Make it a great day and a safe Super Bowl Weekend!