CHICKEN LITTLE -- The Fed is Meeting!!! No rate worries, Henny Penny!

By
Real Estate Broker/Owner with Atlanta Homes ODAT Realty Call/Text 404-939-2727 Buckhead - Midtown - Westside -- and more ...
http://actvra.in/52hW

CHICKEN LITTLE -- The Fed is Meeting!!!
No rate worries, Henny Penny!

 

                                                                       

 

Mortgage advice comes in every flavor under the sun. Take the Federal Reserve March 2017 Meeting dire predictions and worries for example. That's the reason for the Chicken Little/Henny Penny reference.

 

Let's follow the comments of John Meussner - Loan Originator in CA, CO, DE, FL, GA, MD, NJ, PA, TN, TX, and VA for this topic:

"Today is another example why you can't listen to most "professionals" -
those fear mongering you into buying a home now "before the Fed raises rates!". The Fed raised rates today, and as I expected, mortgage rates are improving dramatically. If anyone tells you the Fed will cause your mortgage rate to rise,
rest assured they're more worried about their own wallet than yours.

"Instead, work with someone that knows the markets, has real insight on rates
and their direction, and will be honest with you so when you're ready to buy, you're prepared and can rest easy that you'll get the best financing available.

"Yes, rates are moving up. That's not a reason to rush a decision as big as a home purchase."                                                                        JMLoans team at Mason McDuffie

John received replies to his thoughts, for example:

"Expectations of future changes to borrowing rates (fed funds, LIBOR, prime,
etc.) are all already "priced in" to all debt instruments, including mortgages.
The only change to consumer-level rates is that a probable increase to the fed funds rate became a certainty--an effect that will be dwarfed by other market forces on any given day. "                                                 Kevin McDonald

John responded:

"Correct. The only thing that cant be factored in is the immediate reaction to an event. The increase today was largely expected, but bonds could have shrugged it off as "meh, we knew it was coming", but instead they're seeing a nicer surge today than expected."

And a compliment from Jeff Dowler -

"Right on, John, for clearing up this misconception."

 

No time like the present to look for your new home!
Just do so carefully and live happily ever after!

 

Remember One Important Thing- Mortgage Preparedness.

The Spring 2017 Market continues with a "shortage of inventory".  That's real estate speak for more people looking to buy than there are homes for sale - whether houses or condos!!!

Here are some links with Mortgage Information for you:

              Buyer Success – Mortgage Ready

            Pre-Approval vs Loan Approval

             Mortgage Approval as First Step

            Pre-Approval vs Pre-Qualified

 

 

At Atlanta Homes ODAT Realty, we are ready to assist you with Concierge Level Service - to SELL your home or to find a wonderful home to BUY.  Call/text - 404-939-2727.

 

 Dollar images courtesy of Jack Cai.

Jody Bruns, CDLP, CMMU     Ricki Eichler McCallum      Joe Gonzalez 

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Tags:
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Rainmaker
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Nathan Gesner
American West Realty & Management - Cody, WY
Broker / Property Manager

Cool heads shall prevail, Lynn B. Friedman . Have a great day!

Mar 16, 2017 06:00 AM #1
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Jeff Dowler
Solutions Real Estate - Carlsbad, CA
The Southern California Relocation Dude - Carlsbad

 Working with the right agent and lender will enable buyers to make the right decisions for their financial and personal situation. The impact on rates was actually positive! Fear-based selling, or buying, is risky.

Jeff

Mar 16, 2017 07:38 AM #2
Rainmaker
437,208
Ricki Eichler McCallum
CastNet Realty - Corpus Christi, TX
Broker,GRI,ABR, - Your Coastal Bend Home Source

Hi Lynn,  Now is a gret time to buy.  Mortgage rates are not the only thing important in making a decision to buy but they determine what kind of home you do buy.  I remember when rates hit 20%.  That was a game changer.  However, I built my first house with a 19.5% interest rate.  It all came out fine.  I would do it again too.  Home prices were less expensive then and not sure how many people would be completely priced out of the market if rates went up just to 10%. I think folks should take advantage now.

Mar 16, 2017 08:33 AM #3
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John Meussner
Mason-McDuffie Mortgage, Conventional Loans, Jumbo Loans, FHA, 203(k), USDA, VA, - Costa Mesa, CA
#MortgageMadeEasy Costa Mesa, CA 484-680-4852

Thanks for sharing, Lynn.  Right after this, I saw a Realtor on facebook telling everyone that the Fed is eating into their buying power.  It's crazy how people want trust but try to sell on fear.

Mar 16, 2017 11:59 AM #4
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George Souto
George Souto NMLS #65149 FHA, CHFA, VA Mortgages - Middletown, CT
Your Connecticut Mortgage Expert

Lynn anyone who claims to know what the rates will do with or without an increase in the Fed rate doesn't know what they are talking about.  There are multiple components to the rate, and predictions based on just one of them are not worth the paper they are written on as proved by the latest increase in the Fed Rate.

Mar 16, 2017 03:32 PM #5
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Lynn B. Friedman

Concierge Service for Our Atlanta Sellers & Buyers
Selling? Buying? Contact us now and LET'S TEAM UP for success!
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