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interest rates: Will 4.5% rates on mortgages help? - 12/08/08 08:50 PM
As many of you may know the news and lobbiests are talking about the government may make rates go down to 4.5%.  First of all what has dropping the FED funds rate down to 1% did to help?  Prime is at 4% now and the market is still struggling.  The main problem is that lending issues..... people that used to could get a loan cant now.... truth is some of those that cant buy now never should have been able to buy.... but one thing i think they need is more 100% loan options.... even people with good credit have to … (7 comments)

interest rates: Now What Obama? - 11/06/08 07:58 PM
Well looks like we have a new president now.....Change?  If many of you have looked at the stock market in the last few days its has bombed since he got elected..... typically when a democrat gets in office the stock market does do bad for the 1st yr in office.....although this has been helping the interest rates.... maybe we can get some people off the fence to start getting mortgages again being as the rates are improving......LETS HOPE things will pick up
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interest rates: What goes up must come down..... - 11/04/08 06:36 PM
Well if any of you have been watching the rates this year you can get sick of the ups and downs..... .i think we are hitting one of this down hill runs again.... we had a 50 basis point improvement today and a .125 bps improvement yesterday..... Rates are back down to 5.875 on a 30 yr again today.... .but this could be temporary again..... get those buyers and refinancers off the fence because we moved almost a point to the bad direction about 2 weeks ago so it can move that fast......what goes up must come and what goes down … (2 comments)

interest rates: BONDS on FIRE! - 11/04/08 06:22 PM
The bond market was on FIRE today in a good way finally!  The bond market improved by 110 basis points today and we saw .375  to a .50 percent drop in rates so if any of you have any buyers sitting on the fence now is the time to get a loan locked.... RATES are GOOD!
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interest rates: Are Credit scores the mark of the beast? - 10/31/08 09:23 PM
As many of you know credit scores control our lives these days.  The credit scoring model was changed not long ago to be a more diversified range of scoring but more based on credit card debts.  Funny thing is lately credit card companies have been cutting back people's limits due to credit risks.  For example, if you had a $20,000 limit on a credit card and had a balance of $8,000 on it.  Some credit card companies are cutting that $20,000 limit down to say $10,000.  How does this affect us other than less credit?  Well credit scores weigh highly on … (12 comments)

interest rates: What does the Media know? - 10/29/08 09:27 PM
I am sure many of you have gotten frustrated at the media about all the negativity they publish.  Truth is most of the media dont have a clue what they are talking about.  The housing decline is calculated from a small group of cities of about 20 across the US and over 70% of those cities are the cities that are suffering from the largest decline, such as major cities in California, Florida, Nevada, Arizona, Michigan and Georgia.  Fact is alot of these cities were some of the largest appreciating markets for a few years.  So by them taking an average … (1 comments)

interest rates: What controls Interest Rates and How will this weeks cut effect the 30 yr? - 10/27/08 08:07 PM
Many mortgage professionals may thing they know what controls interest rates, but truthfully they have no clue.  One way to test a loan officer you are doing business with is by asking them what controls a 30 year fixed rate.  This week the FED is talking about cutting the FED funds rate again, possibly to 0%, will this make 30 year fixed rates go up or down?  Most say down but they are wrong!  When the FED cuts the FED funds rate it lowers the interest rates paid on short term loans such as prime rate loans, home equity lines, auto … (2 comments)

 
Chris1

Chris Montz

Birmingham, AL

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Network Funding, LP

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