Special offer

Time to Refinance or Buy!?

By
Mortgage and Lending with Bright Vision Mortgage

Home owners and prospective buyers, you may have notice that mortgage rates have gotten better in the last couple of weeks as the stock market has tumbled.  Remember it is all about JOBS. The number of jobs being created in the country came in very low for November/December.  The job number is one of the most important economic numbers that is reported each month by the government and job growth is also very important to the housing market.

Goldman Sachs recently came out and said they think we are going into a recession and that the Federal Reserve will cut their key rate to 2.5% by the fourth quarter of 2008.   2.5%!!!  WOW!

Goldman Sachs is one of the most reputable companies in financial services and their record of accomplishment is unmatched.

I have a couple of loan options currently available that will allow you to take advantage of these great rates!  If you do not know, about a Macquarie lBank oan, go to http://www.macquarie.com/ and look around.  There are only a handful of companies that have access to this product and Bright Vision Mortgage is one of them. This product currently separates us from the crowd!

Just for full disclosures, I have talking about this product for over a year. I have clients today that have seen their rate drop 70 basis point over the last 5 months. This product is truly fantastic!

Here are some of the advantages:
No Borrower MI (Mortgage Insurance) - if you don't have $$ to put down, they will lend up to 100% of value.
No prepaid interest at closing
No escrows
First lien HELOC so you always have access to the equity on your home.

On another note, Option ARM rates will be going much lower as well. I am predicting that the rate on my option arm will be about 4.5% by the end of 2008.  Not bad considering it was almost 7% in July of 2007. Where else can you get a 2.5% reduction in your rate without refinancing?

Why am I spending so much time on these variable rate products? Because I believe that variable rates are better for your clients and better for your business. I want you and your client to be happy. I would never ask a
client to have a loan that I would not get for friends, my family, and myself.

Comments (0)