Baby boomers could be on to something - Eric's Daily Rate Watch 10-13-2011

Mortgage and Lending with Directors Mortgage, NMLS-3240 NMLS-97776

Eric's Daily Rate Watch 

October 13, 2011  -  9:06am PST    -   Lock before rates go higher!   

Baby Boomers could be on to something!   

Lots of news today, and a new survey shows that Baby Boomers might be leading the way to housing recovery.  Watch the video to find out what they're doing!
Lots of news today, and a new survey shows that Baby Boomers might be leading the way to housing recovery. Watch the video to find out what they're doing!

This will open in my YouTube page in separate window.  Be sure to come back to this page to read the rest of the articles below!

Today's Rates at a Glance
Pricing shown actually available at time of publication and may change up/down during the day.  Most loans can be "bought-down" further to lower rate. "Zero-fee" loans available.  Call for details.  

CONFORMING  ($417k or less - pmt based on $250k)
RATE       APR        P&I Pmt   
4.000       4.096       $1194        30yr Fixed 
4.250       4.537       $1230        30yr Fixed - 97%LTV with MI
4.500       4.598       $1267        30yr Fixed - 95%LTV - NO MI 
3.750       3.812       $1482        20yr Fixed
3.375       3.426       $1772        15yr Fixed  
4.375       4.438       $1248        30yr Fixed investment
10yr, 20yr, and 25yr Fixed available - Call for Details

2.875       2.945       $1037        5/1 ARM

3.125       3.179       $1071        7/1 ARM

3.750       4.314       $1158        30yr Fixed FHA 
3.250       3.736       $1157        5/1 ARM FHA
Fantastic pricing also available for VA & USDA

JUMBO  (above $417k - pmt based on $600k)

RATE       APR        P&I Pmt   
4.875       4.936       $3175        30yr Fixed Jumbo  
2.750       2.799       $2449        5/1 ARM Jumbo - WOW! 

3.125       3.178       $2570        7/1 ARM Jumbo - WOW! 

We have Jumbo Loans up to 90% loan-to-value


Current Product Offerings Include:

Purchase, Refinance, Construction, Commercial, Investment Property, Single & Multi-family, Conventional, FHA, VA, USDA, Cash-out, Streamline refi's, No-Cost refi's available ... and more ... And we lend our own funds for most of these loans (closing faster than brokers, big banks, credit unions with better rates)


Interest rates as of 13 October 2011 - 9:06am PST, and are subject to change without notice.  Please call for up-to-the-minute accurate quotes and Pre-Approvals.  Pricing based on a single-family primary residence and 25day lock in Oregon.  Washington rates "may" vary slightly.  FHA, USDA, VA rates factored on a middle credit score of 640 and 96.5% ltv for FHA and 100% ltv for USDA or VA.  USDA has income & property restrictions.  Lower credit score loans are possible under certain circumstances (call for details).  Conventional rates shown based on credit-score of 740 and 75% or less ltv, with impounds. Jumbo pricing based on 75% ltv (fixed) and 75% ltv (ARMs) with impounds.  Lower credit-score programs may be available at slightly higher rates.  Reduced or "no-cost" loans available upon request.  Other restrictions to any program may apply. This offer is not a firm committment to lend.  Individual program qualifications may apply.  Currently locked rates may be reduced if enough market improvement - call for details on our "floatdown" policy.

Call 503.698.5801 for program details and scenarios ... find out what you qualify for! 
Are Mortgage Rates Headed Up For Good?money stack
by Eric Newman, Skyline Home Loans 

If you have paid attention to anything I've said in the past two months, you will know that I'm not a gambler, and always looking to help you make good choices about your finances.

Since early August, we have been in the midst of a historic record dip in mortgage rates.  From the moment this started, I have said that this won't last forever and that we need to keep an eye out for any positive news coming out of Europe.

Take a look at these two charts reflecting sales of Mortgage-Backed-Securities (MBS).  The first one shows the past three months of MBS sales.  As you can see, we have slipped back down to the lower end of range we have been in since the debt-ceiling talks in August.  The lower the MBS sales, the higher rates go.
MBS 3mo - 10122011

But the most telling (or predicting) chart is this next one, which shows MBS sales over the past two years.  Look how high we still are right now (meaning low rates), and then look at the middle of the chart showing Fall 2010.  A year ago, we saw a plunge in MBS sales and rates went up fast over a two-week period.  Are we going to see that same thing happen again this year?
mbs max 10122011

Nobody really knows for sure what is coming, but I can tell you this ... Lawmakers around the world are trying to solve the jobs and debt crisis in their countries.  They want stocks to rise worldwide.  Any good news, like the possible European debt rescue plan happening now send stock up, and MBS down.  Also, we're heading into the holiday season, when retailers start to hire temp workers.  So plan to see jobless numbers decline and retail sales improving.  My guess is this will cause a rate hike.

RECOMMENDATION  -  don't play Russian Roulette with your mortgage.  If you can save by refinancing today, then DO IT.  Waiting will cost you tens of thousands over the next several years.  We might not see rates like this again - hard to know for sure.

Remember that if you lock now and rates decline enough during processing of your loan, then we can renegotiate with our lock-desk and reduce your rate.  However, you can't do that if you haven't locked yet.  Hind-sight is 20-20 ... right?

I'm in the office all day ... 503.698.5801 ... or 


Bank Earnings Lead Dow Lower
 New Jobless Claim Filings Show Modest Improvement
Baby Boomer Home-Buying Trends Might Surprise You
by RISMedia

A new survey from Coldwell Banker Real Estate finds that 87% of 1300 agents and brokers polled agree that the economy is delaying boomer's plans to sell their home ... however, they also reported that half of their boomer clients either own, or are looking to buy, an investment property 

See the Full Story
Real Estate Advice
In This Issue
Are Mortgage Rates Headed Up For Good?
Today's News Headlines
Baby Boomer Buying Trends
Real Estate Advice
About Us
Our Client's Say it Best

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Eric clients rate him Excellent in Customer Satisfaction!!

(independent survey)


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Who We Are

Skyline Home Loans is a DIRECT LENDER.
This means we fund most of our loans through our own bank lines, have in-house underwriting & funding, along with very competitive terms and fees.  We have assembled one of the strongest teams in the industry, which allow us to provide outstanding customer service.

Whether you are purchasing your first home, or your 10th rental property, we are committed to explaining all the available options and ensuring a smooth & timely closing. 

What If I Lock and Rates Dip?
If you instruct us to lock your rate, and the next week the market improves enough, we may be able to reduce the rate we locked for you by re-negotiating with our investors. 

We are monitoring the markets in real-time EVERY DAY, so if a change occurs, we will notify you.  Any change does require enough market improvement (usually 1/4 - 3/8%) - call for details. 

Our Clients Say ... 




"You are my guy. I trust what you tell me"  Gary


"We appreciate how easy this process was"  K.L.


"Couldn't have asked for a smoother closing"  Mike


"I wish everyone I did business with demonstrated the same level of professionalism and competence"  David


"Easiest and least painful refi ... EVER"   Jim


"Thank you for listening, Eric"   Janet


"You are the best one out there.  Nobody else goes the extra mile like you do"

Realtor referral partner


Eric new photo 03012011Skyline HL Logoericnewman
Senior Mortgage Banker
DIRECT  503.698.5801
           CELL 503.997.5285
MLO-97776  ~ NMLS-12072               10121 SE Sunnyside Rd, Suite 230    Clackamas, OR  97015                      2010 GFE
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ERIC NEWMAN  |  Loan Officer |  NMLS# 97776     
Office: 503.698.5801  |  Cell: 503.997.5285   |  Fax: 503.716.4604    
Guild Mortgage Company  |  NMLS# 3274  |  10135 SE Sunnyside Rd, Ste 220, Clackamas, OR 97015  

NW Mortgage Group has been acquired by Guild Mortgage  -  Read the full press release


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Peggy Chirico
Prudential CT Realty - Manchester, CT
REALTOR® 860-748-8900, Hartford & Tolland County Real Estate

Hi Eric - This is very thorough information.  I watched a few of your videos and will definitely be subscribing.  I like the big picture focus, as well as the clear explanation of economic issues.  Thanks.


Oct 13, 2011 06:34 AM #1
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Eric Newman

Loan Officer with 25yrs in Housing, NMLS-97776
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