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rates: The Real Understanding of Today's Markets - 04/10/09 03:52 PM
With the ups and downs mortgage rates have had in the past few months, now is a good time to take a look at some factors behind how your mortgage rate is decided. Thawing the Market
Like most financial products, there is a secondary market for mortgages that brings buyers and sellers together. For your lender to keep business moving they will bundle a collection of mortgages into a security and sell it to an investor, usually a bank or government, to replenish their cash so they can turn around and make more loans. Your mortgage rate is directly tied to … (2 comments)
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rates: Breaking News-Feds Cut rates by 3/4 point - 01/22/08 07:26 AM
With all the worlds actions over night, Feds bring down Fed Funds Rate by .75% to 3.50%. Now what that will mean to anyone who has a second mortgage is that home equity loans, which includes lines of credit and second mortgages, will go down. Now will the stocks bounce back at all from the potential free fall that the foreign markets did overnight. I am not sure that will happen for a while.
According to the report on CNBC.com, "The Fed said it was cutting the federal funds rate, the interest that banks charge each other on overnight loans, to 3.5 … (21 comments)
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rates: You want a 30 yr. fixed at 5.5%/5.579%APR - 01/14/08 08:33 PM
Rates have really come down and as of today- January 14th, we are offering a 30 year fixed rate mortgage for only 5.50% with an APR of 5.579%. Now if my little friend here can come to me without begging, you too can get this rate, as of Monday, January 14th.
This information is provided to assist real estate professionals and is not an invitation to extend credit as defined by Section 226.2 of Reg. Z.
Be sure to get on board before these rates wash away! Many of our customers think they know more than we do. But according to the Real … (8 comments)
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rates: The REAL Skinny on Mortgages - 11/23/07 05:12 PM
Now that's the ticket....... Just what we all need....Lower Mortgage rates and No Closing Ciosts.
And just where do you think that comes from?
There is no free lunches and no free mortgages!
Someone has to pay for that! And in the long run it comes in the form of higher interest rates for our borrowers. So you ask "How does this work"? It is easy.....As all good lenders do, we must do what is the best thing for our customers?
There is always a cost to No Cost Loans. The cost comes in a form of higher interest rates. When lenders are paid, … (9 comments)
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Keith Hoffman - 1st Advantage Mortgage Residential Mortgage Specialist
Lombard,
IL
More about me…
1st Advantage Mortgage
Address: Dupage County, Will, Kane, Cook Counties, Kendall County, Lake County & 38 States, Lombard, IL, 60148
Office Phone: (630) 376-0555
Cell Phone: (630) 306-5626
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