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Wednesday, March 26, 2008

Wednesday's 3/26/2008 Interest Rates bond market

Wednesday's bond market has opened in positive for hopes that rates will lower in the next couple days because of a weaker than expected economic news and early stock losses. The stock markets posted sizable losses with the Dow down 108 points and the Nasdaq down 25 points in the first of today. On the other hand, the bonds settled by middle of the day and therefore may not result in a significant change if at all by tomorrow. This is a volatile market, and days of lowering rates could easily be followed by days of higher rates. My suggestion might be that borrowers lock their loans and realize the super low rates as they are now and accept that they might lose out on a .125% drop in days or weeks after but could cut any possible loss by locking now.
See my blog on occasion for major changes and updates in the Home Loan market. Frisco Mortgage and Frisco Homes may see good numbers with the lowering rates of recent weeks.
Be sure to see our spot on Best of Frisco's website and you can find us there by searching on that site by key word, 'financial', and when you see the Frisco Financial Group you might see some new positive reviews for our team there.
Best of luck in your Home Search.
Brad Lynch

Monday, March 24, 2008

Mortgage Rates In the Week of 3/24/208

There isn't much I can offer as to expectations of the movement in the interest rate market this week. There are no major ques to watch for the opening of the market today or tomorrow. Keeping your eye out for any major media scares or reports on headlines could have a light affect, but not economic reports are expected to show soon.
There's a term or phrase that I have used in the recent year or more to describe our publics' perception on the economy, that's a pseudo confidence. Is it possible that our economy remains stable and hasn't spun out of control, relatively speaking as if it hasn't in the more pesimistics mans eye, by a placebo affect? Think positive and you get positive gains. American's are positive in their expectations from month to month and quarter to quarter for the next reports on the economy, even though there is really no major reason. The outcome of that is that investors are not shifting money as cautiously as they would if they were more skeptical. So, the end effect means we don't report in headlines the realistic falls of the market until they are right up on us. Economic experts are starting to be a little more realistic and just as they have underestimated the time in which it would take for the subprime fall and all to last, maybe they'll be gun shy and we'll see a positive turn sooner than their less confident reports bring us in the coming year. As the now more realistic views coupled with the continued less than positive economics reports roll in, this should continue to at worse, hold rates low and hopefully drop them in weeks to come.

Friday, March 14, 2008

Economic Changes Make Hopeful Mortgage Interest to Lower

If you are sitting and prowling in anticipating the interest rates to drop just a little lower before your refinance makes since, signs in the market make that chance look likely. there is good news today as Treasury rates are relatively stable but the market is starting to help mortgage-backed securities. The 10-yr Treasury yield hit its low of 3.10% on June 13, 2003. Today the 10-yr stands at 3.45%, but 30-yr mortgage prices are better by .5 in price, approximately. No mortgage consultant in their right mind will guarantee that the expected result from this situation will result, but all signs point to the positive.
Contact your lender and let him know that you are very interested on market updates if rates begin to drop in the coming month or months. Best of luck in your financing.
If you are not committed into a relationship w/ a current mortgage consultant that you can trust and would like to visit with me or one of my trusted advisors, please feel free to contact me at 214-407-8408. If you need to see a profile of my business type and styles before contacting me, you can click on any of my links on this page to see my sphere of influence and network. Examples: Frisco Financial Group, and Best of Frisco, or my membership in the community of Frisco.

Tuesday, March 11, 2008

FHA Loan and President Bush's Economic Growth Package for the Best Rate

President Bush is responsible for the Economic Growth Package enforced through the Economic Stimulus Act of 2008. This will temporarily increase the FHA loan maximums in U.S. cities. In the end, nearly a quarter million families may benefit from this recent change. "A whole is made up of it's smaller parts", and as we know that this WILL create liquidity in a struggling housing market, the hope is that this is one of the major "small parts" that will eventually add up to the whole in strengthening our U.S. economy. With the demise of zero down payment financing, or 100% financing, and the demise of subprime lending, this may show to be a larger tool than many believe. Many lenders including myself have saw that we can offer our buyers/borrowers a lower FHA interest rate than we could conventional rates. Also important, FHA will allow twice the amount or more closing costs to be paid by the seller than conventional. Ultimately, the buyer/borrower will be able to get a lower rate, lower payment, and lower out of pocket costs at closing w/ an FHA loan than a Conventional. If you are interested in seeing what the FHA increased limit is in your area, just go to the newly updated FHA Loan Limit page in the HUD website. If you were interested in browsing the News Room in HUD for other important tid bits, they have plenty of reading there for you.
In the past, many true mortgage brokers denied the option of keeping their FHA license because of the vast array of other loan programs that worked side by side with a typical FHA loan. Also, the up keep and maintenance of an FHA license was more labor intensive and costly than they cared to participate in. Today, FHA is a necessity in a Loan Officers arsenal of loans w/ the aforementioned demise of sub prime lending and loss of 100% financing. So, make sure you ask your Mortgage Pro/Loan officer if he is FHA licensed and if he is not, don't take the chance on being fooled in believing their "other option". Talk to another FHA licensed Loan Officer/Lender and get his view so you can do your own comparing to what your original lender offered you.
Best of luck in you dream home hunt, and "DON'T KEEP ME A SECRET"!!!! (: If you are looking for a Professional in the finance genre of needs in Frisco, TX, you should contact one of the experienced professionals w/ Frisco Financial Service who appear on the first page of Best In Frisco.

Testimonials & About Me

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Frisco, Texas, United States
In 2002, Brad Lynch began energetically consulting families in finding the right mortgage plan for their needs. In the beginning years, he was trained by a mentor who led by example, and this example was the epitome of integrity. Brad learned in the beginning by his mentor that many prospects may not consciously see what good intentions he has for them, do to the “wrap” many have caused w/in this industry, but always do what is right for the customer and in the end it will payoff. Integrity coupled with an energetic nature to nurture relationships, Brad has created clients for life. Through these clients for life, referrals have become the lifeblood of his business.