Andi Bytyqi's Blog

Stimulus Plan Update

Andi Bytyqi (Metro Point Lending LLC) — Fri, 27 Feb 2009 13:45:15 -0800

Tax Credit for Homebuyers
First-time homebuyers who purchase homes from the start of the year until the end of November 2009 may be eligible for the lower of an $8,000 or 10% of the value of the home tax credit. Remember a tax credit is very different than a tax deduction - a tax credit is equivalent to money in your hand, as opposed to a tax deduction which only reduces your taxable income.

The tax credit starts phasing out for couples with incomes above $150,000 and single filers with incomes above $75,000. Buyers will have to repay the credit if they sell their homes within three years.

Tax Credit Versus Tax Deduction

It's important to remember that the $8,000 tax credit is just that... a tax credit. The benefit of a tax credit is that it's a dollar-for-dollar tax reduction, rather than a reduction in a tax liability that would only save you $1,000 to $1,500 when all was said and done. So, if a homebuyer were to owe $8,000 in income taxes and would qualify for the $8,000 tax credit, they would owe nothing.

Better still, the tax credit is refundable, which means the homebuyer can receive a check for the credit if he or she has little income tax liability. For example, if a homebuyer is liable for $4,000 in income tax, he can offset that $4,000 with half of the tax credit... and still receive a check for the remaining $4,000!

Phaseout Examples

According to the plan, the tax credit starts phasing out for couples with incomes above $150,000 and single filers with incomes above $75,000.

To break down what this phaseout means to homebuyers who are over those amounts, the National Association of Homebuilders (NAHB) offers the following examples:

Example 1: Assume that a married couple has a modified adjusted gross income of $160,000. The applicable phaseout to qualify for the tax credit is $150,000, and the couple is $10,000 over this amount. Dividing $10,000 by $20,000 yields 0.5. When you subtract 0.5 from 1.0, the result is 0.5. To determine the amount of the partial first-time homebuyer tax credit that is available to this couple, multiply $8,000 by 0.5. The result is $4,000.

Example 2: Assume that an individual homebuyer has a modified adjusted gross income of $88,000. The buyer's income exceeds $75,000 by $13,000. Dividing $13,000 by $20,000 yields 0.65. When you subtract 0.65 from 1.0, the result is 0.35. Multiplying $8,000 by 0.35 shows that the buyer is eligible for a partial tax credit of $2,800.

For those tracking the math in the examples above, you may be wondering where the "$20,000" came from-that is, why you divide "$10,000 by $20,000" in the first example and "$13,000 by $20,000" in the second example. Here's where the $20,000 comes into play:

The tax credit amount is reduced for buyers with a modified adjusted gross income (MAGI) of more than $75,000 for single taxpayers and $150,000 for married taxpayers filing a joint return. The tax credit amount is reduced to zero for taxpayers with MAGI of more than $95,000 (single) or $170,000 (married) and is reduced proportionally for taxpayers with MAGIs between these amounts.

In other words:

· $170,000 - $150,000 = the $20,000 in the first example

• $95,000 - $75,000 = the $20,000 in the second example

Remember, these are general examples. You should always consult your tax advisor for information relating to your specific circumstances.

Homes that Qualify

The tax credit is applicable to any home that will be used as a principal residence. Based on that guideline, qualifying homes include single-family detached homes, as well as attached homes such as townhouses and condominiums. In addition, manufactured or homes and houseboats used for principal residence also qualify.

Higher Loan Amounts

More good news - there is an extension on the additional tier of conforming loan amounts which had been first established in 2008. This tier of home loans are those greater than $417,000, and with a maximum that depends on the area, but is not greater than $729,750. These loans will again be eligible for rates that are slightly higher than conforming loan rates, but less expensive than the standard "jumbo" loan rates.

FHFA News Release -

http://www.mortgagemarketguide.com/download/022309_final.pdf

Additional Housing-Related Provisions

Tax Incentives to Spur Energy Savings and Green Jobs - This provision is designed to help promote energy-efficient investments in homes by extending and expanding tax credits through 2010 for purchases such as new furnaces, energy-efficient windows and doors, or insulation.

Landmark Energy Savings - This provision provides $5 Billion for energy efficient improvements for more than one million modest-income homes through weatherization. According to some estimates, this can help modest-income families save an average of $350 a year on heating and air conditioning bills.

Repairing Public Housing and Making Key Energy Efficiency Retrofits To HUD-Assisted Housing-This provision provides a total of $6.3 Billion for increasing energy efficiency in federally supported housing programs.Specifically, it establishes a new program to upgrade HUD-sponsored low-income housing (for elderly, disabled, and Section 8) to increase energy efficiency, including new insulation, windows, and frames.

Expanding Housing Assistance-This provision increases support for several critical housing programs. It includes $2 Billion for the Neighborhood Stabilization Program to help communities purchase and rehabilitate foreclosed, vacant properties.

More Help for Homeowners in the Future
Another thing to keep an eye on in the coming weeks is President Obama's plan to help struggling borrowers before they are faced with a default on their mortgage.

According to reports, the Obama administration is discussing plans to help borrowers who are struggling to stay afloat, but who have not yet fallen behind on their payments. At this point, details are scarce; however, reports indicate that President Obama is looking to spend approximately $50 Billion to directly help homeowners before they face foreclosure and financial disaster.

While this is good news for individual homeowners, it will likely be good for the housing industry as a whole. That's because, assisting struggling borrowers before they default should help stop the wave of foreclosures, which are estimated to top two million this year. That, in turn, will help stabilize home prices.

The Economic Stimulus Plan is huge, and impacts a number of industries. I've highlighted some of the major provisions that may impact you now and in the future.

As always, if you have any questions or would like to discuss how this may specifically impact you, I'd be happy to sit down with you. Just call or email me to set up an appointment.

TARP II Cuts the $15,000 Tax Credit

Andi Bytyqi (Metro Point Lending LLC) — Fri, 13 Feb 2009 00:22:56 -0800

Greetings Everyone,

As the Congress and Senate deliberated and compromised on what to keep and what to throw out the $15,000 Tax Credit got the ax. Basically, this new incentive was a new proposal to adjust the previous $7,500 Tax credit that was passed in 2008. It was also going to apply not only to New Homebuyers, but to any primary residence buyer. It would have also been a true Tax Credit and not only a 15 year interest free loan from the IRS as the $7,500 Tax Credit was. The NAR believed that the $15,000 Tax Credit would have helped sell about 500,000 homes and would help the home prices stabilize.

The new tax credit that has been agreed upon and will be up for a final vote soon, is a $8,000 Tax Credit to any New Homebuyer that has not owned a home in the last three years. It is not required to be paid back as long as the Homebuyer keeps the house as their primary residence for at least two years.

The NAR believes that this tax credit will help sell approximately 200,000 new homes and even though it's not as good as the other tax credit, it will still help stabilize home prices to a degree.

I will keep you posted as I find out of any changes regarding this important issue for our industry.

Thanks,

Andi Bytyqi, MBA
President
Metro Point Lending LLC
Office: 405.513.8610
Mobile: 405.205.7585
Fax: 877.203.0303
Andi@MetroPointLending.com
www.MetroPointLending.com

Walden Creek Event

Andi Bytyqi (Metro Point Lending LLC) — Thu, 03 Apr 2008 00:16:37 -0700

Walden Creek Event

Andi Bytyqi (Metro Point Lending LLC) — Thu, 27 Mar 2008 00:26:34 -0700

Hello Everyone,

There is an event that is being planned at the Walden Creek Addition in Mustang on SW 29th and Morgan Rd.

It will be April 5-6 Saturday and Sunday. I know there will be gourmet food and wine tasting.

More info to come as I receive it.

Since we are the preferred lender for Manchester Homes we are providing some specials for anyone that buys one of their homes.

Visit www.loansbyandi.com/specialsand print the flier.

Call me or e-mail me for more info.

Andi Bytyqi

405-205-7585

andi@loanturtle.com

SPONSORSHIP FOR A FREE WEBSITE FROM ALAMODE

Andi Bytyqi (Metro Point Lending LLC) — Thu, 06 Mar 2008 16:41:37 -0800

Hello Everyone,

I just wanted to let you know that I can sponsor you for a free website from ALAMODE.

If you would like to see what one looks like go to www.goodlifeinok.com. I sponsored this website and it was up and running within a couple of hours. It's so easy.

All you have to do is send me your e-mail and tell me that you would like me to sponsor you for a free ALAMODE website.

Send your e-mail to andi@lonturtle.com. I will then send you a personal invitation for a free website sponsored by me.

Looking forward to sponsoring your free website.

Andi Bytyqi

www.loansbyandi.com

Tony Robbins

Andi Bytyqi (Metro Point Lending LLC) — Wed, 05 Mar 2008 17:49:17 -0800

Investment Properties in Oklahoma

Andi Bytyqi (Metro Point Lending LLC) — Wed, 05 Mar 2008 16:49:47 -0800

Greetings,

I want to get your opinion on how healthy is the Oklahoma market for Investment Properties?

Please join our group at http://activerain.com/groups/OKinvestmentproperty

Andi Bytyqi

Daily Lock Advisor

Andi Bytyqi (Metro Point Lending LLC) — Wed, 05 Mar 2008 16:05:17 -0800

Greetings Everyone,

What a roller-coaster has this been lately for the rates. We have had 3-4 reprices within the day on and off for a while now. My best advise to a borrower is to be sure that they are comfortable with their purchase and not think about the rate. If you like the rate then lock it and forget about it. I do not believe in timing the market and will never advise anyone to attempt in doing that.

The Daily Advisor is a good prognosis. But even then, I would instruct your clients to just make sure that they are comfortable with their purchase and their payment and not dwell on what they could have gotten for a rate. Our experience has been that once the borrower is done with their purchase process and after 3 months, they will no longer be able to tell you what their rates are.

I will continue to post the Daily Advisor as an informational tool for you. You are able to find the same advisor from Alamode if you have a website with them. Our company is also a subscriber to The Mortgage Market Guide that gives us a more in-depth and up to date look at what the market is doing. For more information contact me anytime at 405-205-7585 or at andi@loanturtle.com.

You can visit my website at http://www.loansbyandi.com/.

Rate Lock Advisory - Wednesday Mar. 5th

Wednesday's bond market opened in positive territory but has since fallen into negative ground as stocks gain strength. The stock markets are rallying after one of today's pieces of data showed stronger than expected results. The Dow is currently up 104 points while the Nasdaq has gained 21 points. The bond market is currently down 6/32, which with yesterday's late losses will push this morning's mortgage rates higher by approximately .250 - .375 of a discount point.

The revised Productivity index for the 4th Quarter of last year was released early this morning, showing a 1.9% annual pace. This was a slight upward revision form the initial estimate of 1.8%. Since it was only a slight revision, it has not had much of an impact on this morning's trading or mortgage pricing.

January's Factory Orders report was released late this morning and also failed to show any major surprises. It revealed a 2.5% decline in new orders that matched forecasts. Today's report also revised December's orders lower by .3%. However, neither of those figures has created enough movement in bonds to affect mortgage rates.

What did make the news today was the ISM Services Index for February. It showed a reading of 49.3, which was higher than the expected 47.5 reading and indicates that the services sector of the economy strengthened compared to January. The 49.3 is still below the recessionary indicator of 50.0, but well above January's 44.6 reading. This can be considered somewhat negative news since the reading was stronger than expected.

The Fed Beige Book will be posted at 2:00 PM ET this afternoon. This report details economic activity throughout the country by region. The Fed relies heavily on this data during their FOMC meetings, so look for a potential reaction during afternoon trading tomorrow. It probably will not cause a major sell off in the stock or bond markets, but could cause enough movement in bond prices to possibly improve or worsen mortgage rates slightly if it reveals any significant surprises.

If I were considering financing/refinancing a home, I would.... Lock if my closing was taking place within 7 days... Lock if my closing was taking place between 8 and 20 days... Lock if my closing was taking place between 21 and 60 days... Lock if my closing was taking place over 60 days from now... This is only my opinion of what I would do if I were financing a home. It is only an opinion and cannot be guaranteed to be in the best interest of all/any other borrowers.

©Mortgage Commentary 2008

Daily Lock Advisory

Andi Bytyqi (Metro Point Lending LLC) — Fri, 29 Feb 2008 17:54:56 -0800

Rate Lock Advisory - Friday Feb. 29th

Friday's bond market has opened up sharply again despite stronger than expected economic data. The stock markets are posting sizable losses with the Dow down almost 200 points and the Nasdaq down 35 points. This has made bonds more attractive to investors as they seek safe-haven from the stock volatility. The result has the bond market up 20/32 and mortgage rates improving another .375 of a discount point.

January's Personal Income ad Outlays data was released this morning, showing a 0.3% rise in income and a 0.4% increase in spending. Both were a little stronger than expected, but have not had a negative impact on bonds or mortgage rates.

The second report of the day was the University of Michigan's revision to their Index of Consumer Sentiment for February. The index was revised higher than was expected to stand at 70.8. However, as with the income and spending report, the news has fortunately had little influence on trading or rates.

Next week is fairly active with economic releases for the markets to digest. It kicks off with Monday's ISM manufacturing index for February. This is an important report and can move the markets and mortgage rates if it varies from forecasts. The week closes with the almighty Employment report Friday morning and between those two are a handful of relevant releases. Look for more details on next week's events in Sunday's weekly preview.

If I were considering financing/refinancing a home, I would.... Lock if my closing was taking place within 7 days... Float if my closing was taking place between 8 and 20 days... Float if my closing was taking place between 21 and 60 days... Float if my closing was taking place over 60 days from now... This is only my opinion of what I would do if I were financing a home. It is only an opinion and cannot be guaranteed to be in the best interest of all/any other borrowers.

©Mortgage Commentary 2008

Welcome

Andi Bytyqi (Metro Point Lending LLC) — Fri, 11 Jan 2008 11:18:38 -0800

Happy 2008!!!

In hopes that this New Year brings everyone prosperity and happiness, I want to open this group for discussion of your New Year resolutions for your career in Real Estate.

My thoughts are that if we tell someone about our resolutions, we are more likely to feel accountable and actually follow up on them.

Here are mine:

1. Prospect more.

2. Learn more about technology that makes my job easier all the while increasing the potential for more business.

3. Learn more about my referral sources and their business, create reciprocal relationships that are beneficial to all.

I love what I do. If you feel the same then share it with us.

Andi

Welcome

Andi Bytyqi (Metro Point Lending LLC) — Fri, 11 Jan 2008 11:18:14 -0800

Happy 2008!!!

In hopes that this New Year brings everyone prosperity and happiness, I want to open this group for discussion of your New Year resolutions for your career in Real Estate.

My thoughts are that if we tell someone about our resolutions, we are more likley to feel accoountable and actually follow up on them.

Here are mine:

1. Prospect more.

2. Learn more about technology that makes my job easier all the while increasing the potenial for more business.

3. Learn more about my referral sources and their business, create reciprocal realationships that are beneficial to all.

I love what I do. If you feel the same then share it with us.

Andi

Welcome

Andi Bytyqi (Metro Point Lending LLC) — Fri, 11 Jan 2008 11:18:08 -0800

Happy 2008!!!

In hopes that this New Year brings everyone prosperity and happiness, I want to open this group for discussion of your New Year resolutions for your career in Real Estate.

My thoughts are that if we tell someone about our resolutions, we are more likley to feel accoountable and actually follow up on them.

Here are mine:

1. Prospect more.

2. Learn more about technology that makes my job easier all the while increasing the potenial for more business.

3. Learn more about my referral sources and their business, create reciprocal realationships that are beneficial to all.

I love what I do. If you feel the same then share it with us.

Andi

DAILY LOCK ADVISORY - Very important

Andi Bytyqi (Metro Point Lending LLC) — Thu, 16 Aug 2007 12:17:38 -0700

Visit my website at http://www.loansbyandi.com/

Rate Lock Advisory - Thursday Aug. 16th

Thursday's bond market has opened in positive territory due mostly to early stock losses. The stock markets are reacting to more credit concerns and overseas losses with the Dow down 134 points and the Nasdaq down 22 points. The bond market is currently up 16.32, but we will still see an increase in this morning's mortgage rates of approximately .250 of a discount point.

The Commerce Department reported this morning that starts of new homes fell 6.1% last month, reaching a their lowest level since January 1997. This indicates that the housing sector is still weakening, which is good news for bonds. However, this data usually does not have much of an impact on mortgage rates and couldn't prevent this morning's increase in rates.

The Labor Department said that new claims for unemployment benefits rose to 322,000 last week, exceeding forecasts of 315,000. This is also good news for bonds and mortgage rates generally speaking, but this data is also considered to be of low importance since it tracks only a week's worth of claims.

There is one piece of relevant data scheduled for release tomorrow morning. The University of Michigan will release its Index of Consumer Sentiment for August at 9:45 AM ET. This index gives us a measurement of consumer willingness to spend. If confidence is rising, then consumers are more apt to make large purchases. This helps fuel consumer spending and economic growth. A drop in confidence will probably boost bond prices, leading to lower mortgage rates. If the index rises, indicating that confidence is rising and spending is likely to continue, we may see mortgage rates move higher tomorrow. Current forecasts are calling for a drop from July's 90.4 to a reading of 88.5.

If I were considering financing/refinancing a home, I would.... Lock if my closing was taking place within 7 days... Lock if my closing was taking place between 8 and 20 days... Lock if my closing was taking place between 21 and 60 days... Lock if my closing was taking place over 60 days from now... This is only my opinion of what I would do if I were financing a home. It is only an opinion and cannot be guaranteed to be in the best interest of all/any other borrowers.

©Mortgage Commentary 2007

New funny Guidelines

Andi Bytyqi (Metro Point Lending LLC) — Fri, 10 Aug 2007 15:04:58 -0700

I got this e-mail from a friend and I thought it was very funny and sad at the same time.

With the recent guideline changes happening almost everyday, this joke is right on the target.

Here it goes:

Very Important- Guideline Changes Effective August 8, 2007

· All borrowers must have one blue eye and one brown eye to qualify.

· LTV > 65% SIVA requires minimum credit score of 849.

· For all LTV > 65%, 360 months of payment reserves now required.

· Borrower's must have no previous bankruptcies in their family history going back
three generations.
· A minimum of 25 years self-employment history now required for all NIV Programs
(at same location).

· Minimum Credit Score for Subprime Loans raised to 720.

· All non-arm's length transaction borrowers (mortgage, real estate professionals,
family members) will be required to provide full-documentation, subject to

criminal background checks, wire tapping, strip-searches, and a minimum of 12

hours of interrogation by the Department of Homeland Security.

Please note that these changes will go into effect within the next five minutes. So please

lock you existing loan immediately. All existing loans in your pipeline must fund by noon

tomorrow.

We apologize for the inconvenience. We realize these are tough times in the mortgage

industry for all of us. Be assured that we have a commitment to remaining strong and

weathering out the storm. We ask for your understanding and cooperation.

Daily Lock Advisory

Andi Bytyqi (Metro Point Lending LLC) — Fri, 10 Aug 2007 10:38:10 -0700

Rate Lock Advisory - Friday Aug. 10th

Friday's bond market has opened in positive territory following early stock losses. The stock markets are posting sizable losses with the Dow down 170 points and the Nasdaq down 48 points. The bond market is currently up 6/32, but we likely will see little change in mortgage rates as a result of weakness in bonds late yesterday.

There is no relevant economic news scheduled for release today. The bond market showed some weakness late yesterday after the results of the 30-year Bond sale were announced. As with Wednesday's 10-year Note sale, it was met with a fairly weak demand from investors. This led to afternoon selling and some lenders to revise rates higher.

However, this morning's gains are helping offset those late losses and are keeping this morning's mortgage rates close to yesterday's morning rates. With no economic news on tap for today, look for stocks to drive bonds prices and any potential change to mortgage rates this afternoon.

Next week brings us the release of several important pieces of economic news, including two key inflation readings. Unlike most weeks, the major data of the week will come during the first part of the week. Its starts Monday morning with the release of July's Retail Sales data. This is a major release because it tracks consumer spending, which makes up two-thirds of the U.S. economy.

The inflation indexes are scheduled for release Tuesday and Wednesday. Look for more details on these and the rest of the week's events in Sunday's weekly preview.

If I were considering financing/refinancing a home, I would.... Lock if my closing was taking place within 7 days... Lock if my closing was taking place between 8 and 20 days... Lock if my closing was taking place between 21 and 60 days... Float if my closing was taking place over 60 days from now... This is only my opinion of what I would do if I were financing a home. It is only an opinion and cannot be guaranteed to be in the best interest of all/any other borrowers.

©Mortgage Commentary 2007

Daily Lock Advisory

Andi Bytyqi (Metro Point Lending LLC) — Fri, 27 Jul 2007 12:51:44 -0700

Rate Lock Advisory - Friday Jul. 27th

Friday's bond market has opened slightly in positive territory after this morning's economic news eased inflation concerns. The stock markets are in negative territory again after yesterday's major sell-off. The Dow is currently down 90 points while the Nasdaq has lost 16 points. The bond market is currently up 2/32, which with yesterday's late strength should improve this morning's mortgage rates by approximately another .250 of a discount point.

The Commerce Department reported this morning that Gross Domestic Product (GDP) for the 2nd Quarter rose at a 3.4% annual pace. This was a little higher than the 3.2% that was expected, indicating economic activity was stronger than thought. However, a key inflation reading came in well below expectations, meaning that while activity was fairly strong, inflation remained calm. This is very good news for bonds and mortgage rates.

Also released this morning was the revision to July's University of Michigan Index of Consumer Sentiment. It showed a reading of 90.4, falling short of forecasts of a 91.5 reading. This is also good news for the bond market because waning consumer sentiment usually means lower level of consumer spending.

The huge rally in bonds this week is more or less a flight to safety from the volatility in stocks. While this is great news for mortgage shoppers, we need to be careful because once stocks stabilize those same funds may exit bonds fairly quickly. This could lead to a rapid increase in mortgage pricing. The question though is when will stocks stabilize? My guess is that we could see some stability in the very near future. Accordingly, I am recommending to lock at this afternoon's rates for immediate, short and mid-term periods. This doesn't mean that I think rates will rise right away, just that the risk of continuing to float outweighs the potential reward during those time frames.

Next week is packed with important economic news. There is no relevant data scheduled for release Monday, but there are three reports Tuesday and at least one piece of news each day after. The almighty Employment report will be posted Friday morning, but look for more details on next week's events in Sunday's weekly preview.

If I were considering financing/refinancing a home, I would.... Lock if my closing was taking place within 7 days... Lock if my closing was taking place between 8 and 20 days... Lock if my closing was taking place between 21 and 60 days... Float if my closing was taking place over 60 days from now... This is only my opinion of what I would do if I were financing a home. It is only an opinion and cannot be guaranteed to be in the best interest of all/any other borrowers.

©Mortgage Commentary 2007

Daily Lock Advisory

Andi Bytyqi (Metro Point Lending LLC) — Wed, 25 Jul 2007 02:12:28 -0700

Rate Lock Advisory - Tuesday Jul. 24th

Tuesday's bond market has opened in positive territory as stocks open with sizable losses. The Dow is currently down 96 points while the Nasdaq has fallen 20 points. The bond market is currently up 3/32, which will likely improve this morning's mortgage rates slightly.

Tomorrow brings us the release of the week's first economic news with June's Existing Home Sales. This is the first of two housing sector related reports scheduled for release this week. June's New Home Sales will be posted Thursday morning and both are expected to show declines. However, I don't think either will have much of an impact on the bond market or mortgage rates. I am expecting that the other reports will drive bond trading and mortgage pricing much more than these will.

The Federal Reserve will release its Beige Book report tomorrow afternoon. This report is named simply after the color of its cover, but it is considered to be important to the Fed when determining monetary policy during their FOMC meetings. It details economic activity and conditions by region throughout the U.S. With Fed Chairman Ben Bernanke's testimony last week, I don't think we will see any significant surprises in this report, and therefore will likely not cause much movement in mortgage rates Wednesday afternoon.

Thursday morning's economic data will come from the Commerce Department when they will post June's Durable Goods Orders at 8:30 AM ET. Current forecasts are currently calling for a gain of 2.0% after showing a sizable loss in new orders during May. This data gives us an indication of manufacturing sector strength by tracking orders at U.S. factories for big-ticket items. These are products that are expected to last at least three years. A stronger than expected number may lead to higher mortgage rates Thursday morning. If it reveals a smaller than expected rise or a decline, mortgage rates should drop Thursday morning.

If I were considering financing/refinancing a home, I would.... Float if my closing was taking place within 7 days... Float if my closing was taking place between 8 and 20 days... Float if my closing was taking place between 21 and 60 days... Float if my closing was taking place over 60 days from now... This is only my opinion of what I would do if I were financing a home. It is only an opinion and cannot be guaranteed to be in the best interest of all/any other borrowers.

©Mortgage Commentary 2007

Rate My XSite www.loansbyandi.com

Andi Bytyqi (Metro Point Lending LLC) — Mon, 23 Jul 2007 10:33:02 -0700

Hello Everyone,

This seems to be the place for the Alamode enthusiasts.

Since I am striving to be a good source of information for my referral base, I would appreciate you feedback about my XSite.

www.loansbyandi.com

Let me know what you would like to see on there that could help your business.

Be sure to check the mortgage calculator Link.

Thanks,

Andi Bytyqi, MBA

Daily Lock Advisory

Andi Bytyqi (Metro Point Lending LLC) — Mon, 23 Jul 2007 10:16:53 -0700

Rate Lock Advisory - Monday Jul. 23rd

Monday's bond market has opened in negative territory following early stock gains. The Dow is currently up 71 points while the Nasdaq has gained 9 points. The bond market is currently down 3/32, but we will likely still see a slight improvement in rates as a result of strength in bonds late Friday.

This week will be interesting for the bond market and mortgage rates. There are six economic reports scheduled for the financial and mortgage markets to digest, with all of them scheduled for the middle or latter part of the week. In addition, one of the reports is considered to be of extremely high importance to the financial and mortgage markets. This makes it quite possible that mortgage rates will show noticeable movement again this week.

The week's data is begins Wednesday June's Existing Home Sales. This is the first of two housing sector related reports scheduled for release this week. June's New Home Sales will be posted Thursday morning, but I don't think either will have much of an impact on the bond market or mortgage rates. I am expecting that the other reports will drive bond trading and mortgage pricing much more than these will.

The Federal Reserve will release its Beige Book report Wednesday afternoon. This report is named simply after the color of its cover, but it is considered to be important to the Fed when determining monetary policy during their FOMC meetings. It details economic activity and conditions by region throughout the U.S. With Fed Chairman Ben Bernanke's testimony last week, I don't think we will see any significant surprises in this report, and therefore will likely not cause much movement in mortgage rates Wednesday afternoon.

Overall, this is another fairly significant week for the bond market and mortgage rates. If we get weaker than expected economic results, we may see mortgage rates make another leg lower. However, stronger than expected results will likely lead to higher rates for the week. With the bond market just recently falling below the important 5.000% threshold, I am holding the float recommendations, but if the yield does not continue to move lower, I likely will be shifting to a lock recommendation.

If I were considering financing/refinancing a home, I would.... Float if my closing was taking place within 7 days... Float if my closing was taking place between 8 and 20 days... Float if my closing was taking place between 21 and 60 days... Float if my closing was taking place over 60 days from now... This is only my opinion of what I would do if I were financing a home. It is only an opinion and cannot be guaranteed to be in the best interest of all/any other borrowers.

©Mortgage Commentary 2007

Daily Lock Advisory

Andi Bytyqi (Metro Point Lending LLC) — Sun, 22 Jul 2007 23:50:06 -0700

Rate Lock Advisory - Sunday Jul. 22nd

This week will be interesting for the bond market and mortgage rates. There are six economic reports scheduled for the financial and mortgage markets to digest, with all coming the middle or latter part of the week. In addition, one of the reports is considered to be of extremely high importance to the financial and mortgage markets. This makes it quite possible that mortgage rates will show noticeable movement again this week.

The Federal Reserve will release its Beige Book report Wednesday afternoon. This report is named simply after the color of its cover, but it is considered to be important to the Fed when determining monetary policy during their FOMC meetings. It details economic activity and conditions by region throughout the U.S. With Fed Chairman Ben Bernanke's testimony last week, I don't think we will see any significant surprises in this report, and therefore will likely not cause much movement in mortgage rates Wednesday afternoon.

Thursday morning's economic data will come from the Commerce Department when they will post June's Durable Goods Orders at 8:30 AM ET. Current forecasts are currently calling for a gain of 2.0% after showing a sizable loss in new orders during May. This data gives us an indication of manufacturing sector strength by tracking orders at U.S. factories for big-ticket items. These are products that are expected to last at least three years. A stronger than expected number may lead to higher mortgage rates Thursday morning. If it reveals a smaller than expected rise or a decline, mortgage rates should drop Thursday morning.

Friday morning brings us the release of the single most important report we see regularly. The quarterly Gross Domestic Product (GDP) is considered to be the best indicator of economic growth. It is the sum of all goods and services produced in the U.S. and usually has a great deal of influence on the financial markets. Current forecasts are estimating to see a 3.2% pace. A larger increase will probably hurt bond prices, leading to higher mortgage rates. But a smaller increase would likely fuel a bond market rally.

Also being released Friday is the final revision to July's University of Michigan Index of Consumer Sentiment. Unless we see a drastic revision to the preliminary estimate of 92.4, I think the markets will probably shrug this news off due to the importance of the GDP.

The week's data is rounded off with two housing sector related releases Wednesday and Thursday, but I don't think they will have much of an impact on the bond market or mortgage rates. June's Existing Home Sales will be posted Wednesday while New Home Sales will be released Thursday. I would expect that other reports or factors will drive bond trading and mortgage pricing much more than these will.

Overall, this is another fairly significant week for the bond market and mortgage rates. If we get weaker than expected economic results, we may see mortgage rates make another leg lower. However, stronger than expected results will likely lead to higher rates for the week. With the bond market just recently falling below the important 5.000% threshold, I am holding the float recommendations, but if the yield does not continue to move lower, I likely will be shifting to a lock recommendation.

If I were considering financing/refinancing a home, I would.... Float if my closing was taking place within 7 days... Float if my closing was taking place between 8 and 20 days... Float if my closing was taking place between 21 and 60 days... Float if my closing was taking place over 60 days from now... This is only my opinion of what I would do if I were financing a home. It is only an opinion and cannot be guaranteed to be in the best interest of all/any other borrowers.

©Mortgage Commentary 2007

Answer to a comment on the Daily Lock Advisory Below

Andi Bytyqi (Metro Point Lending LLC) — Fri, 20 Jul 2007 12:31:40 -0700

I thought this answer to Leo would best be served as a new blog entry. Here it goes.

I definitely concur with Leo's opinion. Everyone should do their due diligence before advising someone on a lock. Here are some of my sources that I consult with before advising my clients: Daily Lock Advisor, MortgageMarketGuide.com, CNBC Business News and other publications related to the industry.

To Lock or not to lock, if we only new the answer for sure. However, I do believe that a well informed professional will be able to advise their clients in a manner that can lower the risk of making costly mistakes in the rate locking predicament. It is well known that rate lock predictions are very nearsighted, as well they should be. To predict anything past a reasonable time-frame could play to your clients disadvantage.

We are still in historic all time low rates. Let's not forget that not to long ago a very good rate was 8%. With that said, the last 5 years of low rates have caused our clients to believe that anything above high fives is a high rate.

What I have found recently is that clients that have that mindset are more likely to shop for a rate and end up with a higher rate at the end. Times are changing, and an old proverb comes to mind " A bird in Hand is worth two in the bush". To put it in perspective, a rate that your client is comfortable with now is worth more than their discomfort of not knowing what the rates could do tomorrow.

I am happy to consult with anyone on a one on one basis or over the phone at anytime. Give me a shout at 405-205-7585. Or keep sending your comments to my blog.

DAILY LOCK ADVISORY 7/20/2007

Andi Bytyqi (Metro Point Lending LLC) — Fri, 20 Jul 2007 10:24:07 -0700

Rate Lock Advisory - Friday Jul. 20th

Friday's bond market has opened strong following early stock losses. The stock markets are reacting to negative earnings news with the Dow down 111 points and the Nasdaq down 26 points. The bond market is currently up 12/32, which should improve this morning's mortgage rates by approximately .125 - .250 of a discount point.

There was no relevant economic news posted this morning, so as expected, bonds are reacting to stock movement. As the major stock indexes fall, traders move funds into bonds as a safe-haven from the volatility in stocks. This leads to bonds moving higher and mortgage rates moving lower.

The yield on the benchmark 10-year Treasury bond has fallen below 5.00% this morning, which is an important threshold. If we are able to close the day below that level, we could see it continue to fall in the coming days. This would be good news for mortgage rates and should lead to improvements. However, if the 5.00% is able to hold today and Monday, it would likely be a good time to lock an interest rate.

Next week isn't too busy with the number of economic releases scheduled to be posted. However, a couple of the reports can cause a fair amount of volatility in the markets and mortgage rates. The first piece of data doesn't come until Wednesday morning, but look for more details on next week's event sin Sunday's weekly preview.

If I were considering financing/refinancing a home, I would.... Lock if my closing was taking place within 7 days... Float if my closing was taking place between 8 and 20 days... Float if my closing was taking place between 21 and 60 days... Float if my closing was taking place over 60 days from now... This is only my opinion of what I would do if I were financing a home. It is only an opinion and cannot be guaranteed to be in the best interest of all/any other borrowers.

©Mortgage Commentary 2007

DAILY LOCK ADVISORY

Andi Bytyqi (Metro Point Lending LLC) — Wed, 18 Jul 2007 17:18:18 -0700

Rate Lock Advisory - Wednesday Jul. 18th

Wednesday's bond market has opened strong following the release of this morning's inflation news and Fed Chairman Bernanke's congressional testimony. The stock markets are showing sizable losses with the Dow down 107 points and the Nasdaq down 30 points. The bond market is currently up 15/32, which should improve this morning's mortgage rates by approximately .250 of a discount point.

The Labor Department gave us this morning's important news, saying that the Consumer Price Index (CPI) for June rose 0.2% with the core data also rising 0.2%. The overall reading was slightly higher than expected, but the core reading met forecasts. The lack of a stronger than expected reading was a relief to bond traders and helped prevent an increase in mortgage rates.

June's Housing Starts was also posted this morning, showing a stronger than expected number of new starts. However, offsetting that news was a downward revision to May's starts. But, this data is not considered to be of high importance and did not affect this morning's bond prices or mortgage rates.

In his testimony this morning, Fed Chairman Bernanke said that the economy is expected to grow gradually this year and that the Fed is on guard against inflation. He indicated that the housing slump will likely go on for a longer period than first thought but that it and other risks could affect economic growth. Bond traders seemed to have taken this as good news while stock investors reacted negatively. He will repeat his testimony before the Senate Banking Committee tomorrow morning. Unless a surprise answer comes up during the Q&A portion, we likely will not see much movement in mortgage rates as a result of tomorrow's testimony.

The only other report of any relevance scheduled for this week is June's Leading Economic Indicators (LEI) at 10:00 AM tomorrow. This Conference Board index attempts to measure economic activity over the next three to six months. While it is not a factual report, it still is considered to be of relative importance to the bond market. It is expected to show a 0.1% decline, meaning that we may see a slight decrease in economic activity over the next few months. A larger decline in the index would be good news for the bond and mortgage markets.

Also worth noting is tomorrow's release of the minutes from the last FOMC meeting. There is a possibility of the markets reacting to them following their 2:00 PM ET release, especially if they show some divisiveness by its members during discussion and voting at the last meeting.

If I were considering financing/refinancing a home, I would.... Float if my closing was taking place within 7 days... Float if my closing was taking place between 8 and 20 days... Float if my closing was taking place between 21 and 60 days... Float if my closing was taking place over 60 days from now... This is only my opinion of what I would do if I were financing a home. It is only an opinion and cannot be guaranteed to be in the best interest of all/any other borrowers.

©Mortgage Commentary 2007