Rate Watch for Friday, January 16, 2009

 

 

 

Hey Folks!

Well we don't expect to see anything that will "shake" the market today. The biggest concern I see is the trend for property values.

Folks looking to refinance or purchase need to move forward. The recent news with sales and foreclosures is not good to hold or build on home values. It may put purhase sellers in a position that they will not be able to sell and for refi will put in a position of negative equity or push you loan to value over 80% and require mortgage insurance.

My advise is to lock and get everything processed while we can still support value. To find out what you might qualify you can use the attached tool. Remember I never collect personal information until you are ready.

Here is a new article that talks about all of these points.
http://www.reuters.com/article/marketsNews/idUSN1552223520090115?rpc=77

Have a Great Day!
Tony Grego, Regional Sales Director with Amerisave
The Place with Great Rates!