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Rates, Rates and Rates

By
Mortgage and Lending with Osceola Mortgage

WOW, we are hearing a lot about rates the past few days. The FED dropped their interbank rate to 0-.25%. Now I am not exactly sure how or what Mr Bernanke means by giving a range for the Fed Reserve rate but the bond market has reacted and we have finally gotten rate relief for buyers and those looking to refinance.

Are we ready for a refinance boom? Probably not but those with equity and good jobs and credit certainly have an opportunity right now to drop payments, payoff credit card debt and get a low fixed rate.

Now for you Realtors, how about this? Take a buyer, get them pre qualified, and we are doing 100% loans at 5% with NO PMI !!!!!!!

That is incredible. A 5% rate Fixed for 30 years and we can even finance closing costs for the buyer. If you aren't utilizing this program I think you're losing sales. Perfect credit is not required and closings take an average of 22 days.

Let's start now and build momentum for a great '09

 

Comments (1)

Nelson Acosta
Ocala, FL

With the end of '09 approaching, we are looking forward to building momentum for 2010!

 

Let's do it.

Oct 26, 2009 01:24 AM