Inflation, inflation, inflation.

Clients & Friends,

Market Update

Rates closed the week up by about .250% across the board on all products.

Inflation, inflation, inflation. As I have said before, inflation is the arch enemy of bonds, and can cause rates to jump instantly on even a whisper of the word. Inflation erodes the fixed rate of return by bond holders enforcing bonds to raise their rates to attract investors. Stay tuned until next week, and keep your fingers crossed for a reversal and rally in rates back down.

CHECK OUT TODAYS BONUS FLYER!

CHECK OUT TODAYS BONUS FLYER! Want to save your client $375?
Print out this FREE APPRAISAL flyer and give it to your clients. I’ll pay their appraisal fee at closing.

Market Update

·Loans from $417,000 to $500,000 are called Agency Loans and recently the pricing has become better across the board.
·Rates this week are flat to up after the Fed meeting minutes came back with talks of high inflation
·Have your home re-assessed for your property tax bills. The county is reassessing property values to lower tax bills. Riverside County residents needing more info may contact the assessor's office at 800-746-1544 or http://riverside.asrclkrec.com
·Print the FREE APPRAISAL flyer for new referrals.

Attached you will find my current rate sheet for the weekend. These rates have been accumulated from, Chase, Wells Fargo, IndyMac, Countrywide, Citi Mortgage, Wachovia, and Everbank. I have handpicked the best rates from all these banks for the most popular loan programs, so that I can ensure you and your clients the very best deal.

Rates closed flat

Market Update:
Rates closed flat for the week which is fortunate because we had a bad stretch mid week with rates rising temporarily.
Agency Loans are priced great, but make sure to have your borrowers call me to make sure they qualify for the restrictions attached to these mortgages.

Agency jumbo loans, are loan amount between $417K - $500K. There are only two competitive programs offered.
30 year Fixed – 6.000%
5 Year Fixed Arm – 5.375%

Pre-approval letters

Many of my referring agents have asked me to forward to them a word copy of my simplified loan application. This form is one easy way to get your clients pre-approved with very little hassle or paperwork. You can also direct your clients to my website where this form can be found as well. Your clients can also get pre-approved by calling me directly, you calling me with their contact information or by e-mailing me.

The mortgage business today has become so volatile, that it’s vital to make sure your clients are pre-approved correctly with a reputable company.

Here are some red flags that should be noticed by you on any Pre-approval letters,.

· Not on letterhead or signed
· Out of town lender
· The client is doing a 100% loan
· The lender is a friend or family member
· Lender & Realtor are the same
· Franklin Loan Center has not pre-approved your client ( Ha, Ha )

Pre-approvals if done correctly can be done in as little time as 10 minutes so why not value your time and make sure you’re not wasting your time and $4 a gallon of gas money. I have frequently been pre-qualifying buyers while sitting in the car with their agent, and it’s a smart way to start your day. I am available 7 days a week, so feel free to optimize my experience to help you be more efficient.

Are we at the bottom or near the bottom?

I think it’s actually happening! Are we at the bottom or near the bottom? It’s really too close to tell, but close it is. I’ve been reading several articles where banks are getting the large cash infusions to increase liquidity to originate more loans. It’s no secret banks want to do business, but what kind of loans are they looking for?

Although there are selective stated income programs still available prepare your clients for the current mortgage market. You can help set their expectations. Prepare your clients to provide the necessary documents for qualifying for a full documentation loan. See the attached flyer to see what they’ll need. It’s basically back to normal lending requirements where borrowers provide their tax returns and source their down payments. Not only this, but they will get the best interest rates and lowest payments out there!

Call with any questions and let’s set ourselves up for success together! Make it a great week!

Market Update and FREE APPRAISAL flyer

Clients & Friends,

CHECK OUT TODAYS BONUS FLYER! Want to save your client $375? Yeah of course you do!!
Print out this FREE APPRAISAL flyer and give it to your clients. I’ll pay their appraisal fee at closing.

Market Update

·The jobs report came in at 20,000 jobs lost this month, which is a lot better than expectations of 75,000.
·Float interest rates until next week as a result of the market opening weak this morning and since improving.
·Do you have a cash buyer? Ask me about my Strategic Equity planning program and help maximize your clients’ investment.
·Print the FREE APPRAISAL flyer for new referrals.

Attached you will find my current rate sheet for the weekend. These rates have been accumulated from, Chase, Wells Fargo, IndyMac, Countrywide, Citi Mortgage, Wachovia, Everbank, and Washington Mutual. I have handpicked the best rates from all these banks for the most popular loan programs, so that I can ensure you and your clients the very best deal.

See the article below…

Smaller Property Tax Bills in the Desert Sun April 27, 2008.

Make it a fantastic weekend and I’ll talk to you soon!