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    Monday, June 30, 2008

    Fed held constant the Fed Funds rate

    Last week the Fed held constant the Fed Funds rate, which had investors ponder the stability of the market. We know the Fed should hike rates to hedge inflation, but the question is will they and when? As the Fed was cutting rates remember I warned that mortgage rates would go up and hey have. I want to mention that if the Fed hikes rates mortgage pricing will get better. I’ll keep you informed as I get the information.

    It’s a short week for the Fourth of July weekend. I hope you are safe while enjoying the festivities!


    FHA Direct Endorsement

    Dear Friends and Family,

    I’d like to take a minute and let you know how the company I work for is staying competitive in this ever-changing market. I’ve found recently that FHA loans are one of the fastest growing loan programs in the market today. I am helping families buy homes with little to no money down. Zero to 3% down is still a possibility even in this difficult market.

    Franklin Loan Center has just completed its FHA Direct Endorsement approval process. This means I am now able to process, underwrite, approve, draw loan documents, and fund FHA loans IN-HOUSE with my Team!!! FHA 30 days or less!! This means you get the house you want at low interest rates and payments with my no-hassle loan close guarantee.

    The reason I share this with you is because we’ve you may have a friend, co-worker, or family members who have been thinking about buying a house. Let me know if I can help with my FHA program and expert knowledge.

    By the way, I am never too busy for any of your FHA Lending Needs.

    Friday, June 27, 2008

    The Fed kept interest rates

    Rates closed the week down on some products and flat on other.

    ·The market is still volatile and rates are changing everyday.
    ·The Fed kept interest rates at 2.00% and 5.00% for the prime rate. This is what I predicted last week would happen.
    ·Mortgage pricing went on a rally today and things are looking pretty good at week’s end. We are currently testing levels of support. I would encourage your clients who may be purchasing in the next 30-45 days to get locked in if they have an offer accepted. Things are getting good.
    ·Mortgages have shifted a lot in the “jumbo” market and make sure you see the difference for the 30 year fix and 5 year ARM for JUMBO loans!

    Monday, June 23, 2008

    I am your FHA expert!


    We are off to a great start this week with the up-coming reports for the market. The Fed will be talking about plans to maintain the fed funds rate where it is or to hike it hedging inflation. Remember, if the Fed increase the rates it is good for mortgage pricing and interest rates will go down.

    How often do you need to change your oil for the car? It depends, so see the newsletter below.

    Oh by the way, I’m never to busy for any of your purchase or refinance mortgage referrals! I am your FHA expert! Make it a great week!

    Friday, June 20, 2008

    Get a Good Faith Estimate

    Market Update

    Rates closed the week down on some products and flat on other.

    The market is still volatile and rates are changing everyday.
    Get a Good Faith Estimate from your lender when shopping for a mortgage to understand the costs involved with paying points or not paying points.
    After coming off the poor performance week in the market mortgage pricing has gotten better this week with a more than 100 bps increase in the market.
    In other news, oil prices bumped higher once again after news of a potential strike at a Chevron plant in Nigeria, which is Africa's largest oil producing nation. If oil prices continue on their current path, it may apply selling pressure to both Stocks and Bonds.
    I’m predicting that if inflation continues to be a concern interest rates will rise.

    Monday, June 16, 2008

    The markets volatility

    The markets volatility sure isn’t loosing any gas and slowing down. That’s right take a look at this week’s newsletter which continues to discuss the market volatility and inflation concerns by investors. What will it take to get oil to $100 a barrel down from $130? Some say a fed funds increase.

    Also, have you noticed signs that tomatoes are in trouble? The FDA has warned about salmonella in red raw tomatoes. See below.

    Make it a great week and stay hydrated out there! IT’s HOT!

    Monday, June 9, 2008

    June's monthly newsletter

    Dear Clients, Family & Friends,

    The summer is here can you feel it? The real estate market is not slowing down this summer so if you’re thinking of buying a property I can get the financing ready for you! There are many programs for 1st time home buyers and FHA is a great way to get lowest monthly payments and low to little money down.

    June's monthly newsletter can give you some tips to save money with retailers on how to use your stimulus check. It’s all about the plastic… credit cards! See this issue to get money saving tips!

    Friday, June 6, 2008

    Rates closed the week

    Rates closed the week up on some products and flat on other.

    · Unemployment rate is up to 5.5% from 5.0% last month
    · The half point raise was the biggest jump since February of 1986
    · Oil prices continue to rise and started the day at $136 per barrel. Watch this as inflation causes interest rates to increase.
    · It’s NOT all bad though… the stock market lost some of its gain today which is good for mortgage pricing. We’ll see how things play out next week.