Weekly Mortgage Update: Week of June 25, 2012 - 06/25/12 10:43 AM
Mortgage markets worsened last week as Greece tentatively formed a government and the Federal Reserve extended its Operation Twist program by $267 billion.
Neither event, however, removed the uncertainty surrounding global markets.
First, Greece must still adhere to stringent austerity measures in order to meet the terms of its IMF bailout. Its new government, however, may seek to revise the terms of its fiscal austerity, a move that would keep the nation-state -- and the European Union -- in fragile balance.
As Greece comes closer to resolution, U.S. mortgage rates are likely to rise. This is because economic uncertainty in Greece has helped … (0 comments)

Weekly Mortgage update: Week of June 18, 2012 - 06/18/12 11:23 AM
Mortgage markets improved last week, moving mortgage rates in Arizona back on a downward trajectory. Wall Street investors bid down mortgage bond yields on weaker-than-expected economic data from the U.S. and concern for events within the Eurozone.
Freddie Mac reports the average 30-year fixed rate mortgage rate at 3.71% for borrowers willing to pay 0.7 discount points plus accompanying closing costs. 
It's the second-lowest reading in Freddie Mac's recorded history and, as a point of comparison, one year ago, the 30-year fixed rate mortgage averaged 4.50% nationwide.
A homeowner giving a $200,000 mortgage at last year's 4.50% rate would have paid $1,013 monthly … (0 comments)

 
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John Reising

Scottsdale, AZ

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AmeriFirst Financial, Inc.

Address: 15111 N. Pima Rd., Suite 110, Scottsdale, AZ, 85260

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