Pre-Thanksgiving Market Update - 11/24/10 02:23 PM
Happy Thanksgiving
 
Please drive safely in the midst of the weather this weekend.  We’ll keep this short and sweet, rates are continuing their rise.
 
 
Thanks
Matt
 
 
Rates: 30 year fixed at 4.625% and the 15 year at 3.875%, FHA: 4.625%: As always rates change with individual credit scenarios and programs, with credit in the mid 700s and a 20% down payment these rates are what you should be seeing
 
 
Matt
 
Matt Royer
Mortgage Consultant, CMC | Homes Mortgage
NMLS# 366970
 
612-232-7646 c
651-770-0637 o
651-294-1001 f
 
www.MattRoyer.com
mroyer@homesmortgage.net
 


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November 17th Market Update: Rates continue to Rise - 11/17/10 04:34 PM
Good Afternoon
 
As we talked about last week, we have entered a rising interest rate environment. Rates have risen an additional .25% since last week, most of the changes coming this past Friday. Many thought that when the Federal reserve issued their Quantitative Easing policy last week to specifically buy long term bonds (which is good for mortgage rates), that rates would in turn, go lower.  Unfortunately there are two factors at play, one being the QE but the second and more important issue is the emotional reaction and expectations in the market.  Specifically fears of inflation that is now … (1 comments)

November 10th Market Update: Rates are back on the rise. - 11/10/10 12:25 PM
Good Morning
 
I came across an article in regards to mortgage standards continuing to tighten with smaller banks here. On the larger scale from a broker’s perspective, we are also still seeing additional parameter tightening with mortgage’s on the wholesale side as well.  Will it get easier to get people approved for loans going forward?  I believe it will but we will not see the lax programs that were available 2-3 years ago making a comeback.  Part of the reason there were major issues with the mortgage market to begin with is due to the poor choices made in how … (0 comments)

November 3rd Market Update: Did I get elected? - 11/03/10 11:40 AM
Good Morning
 
I hope everyone got out and had a chance to vote yesterday.  There are plenty of times when I think to myself, why does my one vote matter?  Then I think about all the countries in the world who don’t allow their citizens a right to vote and realize how lucky we are to get a choice. I hoped there would be a massive write in vote to get me elected to something, even though I didn’t run for anything but, it wasn’t meant to be.  Oh well.
 
So, rates have tentatively dropped back to their lower … (0 comments)