GOOD NEWS: The Stock Market's Up Significantly and Interest Rates Are Improving! 03-12-2009

Remember when these were all you had to call home when you were on the road?  So do I, and interest rates are lower now than they were back when these were being phased out for touch-tone payphones.

The stock market improved today by more than 200 points.  Interest rates dropped.  Rates are loosely tied to what happens in the bond market.  What happened today is contrary to what usually happens.  Bonds and stocks usually move in opposite directions. 

You don't care why.  Take advantage of it.  If you're looking for a mortgage of any kind, 30 year fixed rates for the best borrowers (good credit, W2 wage earner) are back below 5%, with APRs in the low 5s, depending on your loan adjustments.

Okay.  You're the one person who actually wants to know why.  I'll tell you.  Today's auction by the Federal Reserve of $11 billion in 30 year bonds was mobbed.  Demand was high, so rates fell.  Buyers included foreign central banks buying through investor groups.

The point is, cheap money is available for purchase and refinance.  Call me, and let's talk.

I'm Mike in Tucson, your preferred Tucson, AZ Mortgage lender.

Think of me as your Tucson mortgage expert.  I only loan in Arizona.

Call me if I can help you with a purchase or refi mortgage;
(520) 349-9090