New Month Bringing Less Change - 03/28/08 04:27 PM
As we look forward to a new month, April we can be comforted by the fact that their are fewer changes (lenders tightening lending standards) in the lending world from March to April than there were from February to March. Last month there was a huge backlog to lock and submit deals that were no longer going to be offered March 1st. This, believe it, or not has tapered off a tad. Perhaps with so much cutting and changing their is not as much left to cut or eliminate. Anyway I take it as an encouraging sign. We all must encourage buyers to … (2 comments)

Values up in Wisconsin - 03/28/08 03:07 PM
A new report shows equalized home values increased 6.2% in Wisconsin annually. All the major counties in and near Milwaukee showed increases of greater than 5%. Two counties nearest the Illinois border showed the largest increases. Walwoth County had a double-digit growth rate.  The figures came from the state Department of Revenue. … (1 comments)

It's the End of the Month - 03/27/08 01:42 PM
The end of the month is always a crazy stressful time in the real estate business. Everyone seems to want to close on the last few days of the month like it is some big secret on saving interest. … (0 comments)

30 Year Mortgage Rates Worsen Tuesday - 03/18/08 10:30 AM
30 year mortgage rates worsened late Tuesday morning as the markets wait and see what decision the Federal Reserve will make. It is anticipated the Fed will cut a key lending rate between 50 and 100 basis points. Long term mortgage rates improved late Monday afternoon. Lenders at the moment are trying to convince us to lock. … (7 comments)

Chase buys Bear Stearns for $2 a Share - 03/17/08 03:52 PM
JP Morgan Chase purchased the fifth largest investment bank for $2 a share or $236 billion, which was 97% less than Bear Stearns indicated their value was last week. 30% of Bear Stearns employees learned a tough lesson about owning company stock since now their investments are nearly worthless.
 Chase bought the battered investment bank for about 25% of what the Bear Stearns Manhattan headquarters  alone is worth, according to reports. It was a shrewd move by Chase but there are a lot of unemployed upset investment bankers in Manhattan today. How a company can claim they are valued at $3.5 billion one day and are … (1 comments)

10 Year Bond at 3.43% - 03/10/08 03:55 PM
The 10 year treasury note-with the exception of one day- is at a level we have not seen for more than a year. This will bode well for mortgage rates. Although the 10 year bond is not tied directly to 30 year fixed rate mortgages we expect to see mortgage rates at the lowest levels we have seen in some time beginning Tuesday March 11th. Now would be a great time to purchase or refinance although you need to have your credit in order to qualify. Apply in Wisconsin by calling 414-416-9194 http://www.mymilwaukeemortgage.com or http://www.glmcdirect.com   Ask for Pete Cannon … (3 comments)

Countrywide Announces Credit Tightening - 03/10/08 03:47 PM
Countrywide announced some more credit tightening measures Monday in response to the current state of the real estate market. FHA and VA loans are affected. Pricing will be worse and more credit requirements will be added.
It will also be harder to finance 3-4 unit properties. Credit scores for borrowers using high loan to value programs were raised as well. Any borrower with credit issues will have a hard time obtaining a mortgage.
… (1 comments)

How To Raise Your Credit Score - 03/05/08 01:41 PM
Having a high credit score will allow you to obtain financing easier and at better rates and terms. Do not let any bill go 30 days late. Keep balances low. If your balances are less than 50% of your credit limit your credit will be good. Do not close unused cards. Credit history, in other words the length of time a credit line is open, can benefit you. Lenders want to see 12 or 24 months of history. Pay your utilities on time. Late utility payments can have a bad affect on your credit score. Do not open credit if you … (2 comments)

 

Pete Cannon

NMLSR ID 400610

New Berlin, WI

More about me…

Wells Fargo Home Mortgage

Address: 16001 W. Cleveland Ave., New Berlin, Wi, 53151

Office Phone: (414) 224-4732

Cell Phone: (414) 416-9194

Email Me

Mortgage News You Can Use 414-416-9194 FHA loans, VA loans, Jumbos, Purchase, Refinance, Home Equity Lines of Credit, Grants for Downpayment Available. Trusted, Experienced, Concerned About Your Needs First Time Buyer Assistance Fast, Friendly Service Fast, free pre-approvals Lines of Credit Available


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