Name
Gary Miljour - Mortgage Lending for Tempe Arizona
Company
Cherry Creek Mortgage Company
E-mail
Contact Gary Miljour - Mortgage Lending for Tempe Arizona (Cherry Creek Mortgage Company)
Website
http://www.garymiljour.com
Office Phone
(480) 214-2818
Cell Phone
(480) 251-0002
Fax
(480) 558-5190
Address
1630 South Stapley Drive Ste. 100, Mesa, AZ, 85204
Description
I provide full service mortgage planning and guidance for the Tempe Arizona community. I specialize in helping first-time homebuyers obtain homeownership through FHA, VA and conventional mortgages.

About Gary Miljour

Definitive Mortgage Planning and Guidance

Trusted Advisor

Gary Miljour has over 15 years of experience in the Real Estate and Mortgage Services Industry.  His studies in business managment have prepared  him to consult, educate, and guide his clients into solid mortgage solutions.  You can put your trust in Gary to get the job done.

Integrity & Knowledge

Gary prides himself on being a professional through every step of the transaction.  He has made a choice of not trying to be a fit for all individuals, but instead choosing to work with those that he is best suited to help.  Having focused knowledge of his client's specific loan programs and products allows Gary to create better and stronger relationships with his customers. 

"A solid, long term mortgage plan is always better than a short term solution"  Gary E. Miljour

Mortgage Lending for Tempe Arizona

Homeowners First

     The purchase of your first home will be one of the largest investments you will ever make.  You will need a plan and some thorough guidance along the course of that long term investment.  Gary is the trusted advisor that you can rely on for education and guidance.

     Specializing with first time home buyers, Gary has an expansive knowledge of programs such as FHA, VA, government bonds, little down payment, or zero down payment loans.  He presents customized options and services for all of your financing possibilities.

     Gary believes it is of the up-most importance to keep the client informed throughout the entire transaction.  He meets with clients in person, sets flexible appointments and will work around even the most hectic schedule.  Gary is there at your side from the beginning of the loan application to signing the final papers at the title company.

     Gary's years of experience and knowledge allows him to help with every facet of the transaction.  With his expansive network of reliable, trusted professionals you can count of him to direct you to the right service provider.

Investors

     Mortgage planning requires highly specialized financial expertise.  It demands hands-on experience throughout the entire investment process.  Gary understands the time, labor, and costs involved in completing investment projects.  Whether it is the short term endeavor, equity/appreciation opportunity, or long term cash flow property, Gary has solutions for the real estate investor.  He offers discounted services based on volume purchases, and is dedicated to relationships that make sense.

     Gary has hand selected an expansive network of reliable, trusted professionals from every area of real estate.  As a client, you become a member of an exclusive team that is prepared to assist you in every aspect of your investment.

The Small Business Professional

     Locating untapped resources within your organization can be the cornerstone toward obtaining life's financial and retirement goals.  Gary helps uncover these hidden resources.  By restructuring mortgage loans and equity, he can help fund additional projects and expand your business.  He also assists in freeing up funds for long term investments and retirement goals.

Interest Rate Commentary

 

 Tuesday: 12/02/08 5:00 PM EST : Stocks rallied this morning, then fell sharply in the afternoon. But before the indices could reach unchanged levels, they rebounded once again and finished near their highs of the day. Treasuries caught a bid when stocks were sliding and remained elevated since much of the recovery in stocks occurred after bond trading closed.

 

In late trading, the 10-Year Treasury Note was up by 17/32, lowering its yield by 6 basis points to 2.67%; the Dow was up by 270.00 points to 8,419.09; and the Nasdaq was up by 51.73 points to 1,449.80.

Stocks got an initial boost this morning from a technical bounce following sharp losses yesterday. But they retreated from their highs early this afternoon as auto sales figures for last month showed steep declines relative to those in November of last year. General Motors, Ford, Toyota, and Honda have all reported Y/Y declines of over 30%.

But the declines in stocks triggered more bargain hunting and the indices moved sharply higher again. The market has been extremely volatile lately as economic data has been bleak but traders have been testing lows for a possible turnaround. On the 19th and 20th of last month, the Dow fell by 872.46 points or 10.36%. It then rose in each of the next five sessions for a gain of 1,276.75 points or 16.91%. This was followed by yesterday's decline of 679.95 points or 7.70%. The index gained 3.31% today.

The other indices have followed similar paths. Today the S&P 500 gained 3.99% after declining yesterday by 8.93%. The Nasdaq gained 3.70% today after falling yesterday by 8.95%.

Despite the advance in stocks, oil futures fell again today. The price of a barrel of light, sweet crude for next month delivery lost $2.32 on the New York Mercantile Exchange to close at $46.96. This was the lowest closing price for a front-month contract since May of 2005. Today's closing price was down by $98.33 from the record high of $145.29 set on July 3.

Treasuries have been benefiting from the swings in the stock market and from the growing string of weak economic data. Word yesterday from the head of the Federal Reserve that the central bank may further lower short-term rates and make purchases of Treasuries further up the maturity spectrum provided additional support for bonds. The yield of the benchmark 10-Year Note has fallen by 65 basis points in the last five sessions and stands at an historically low level (yields move inversely to price).

Tomorrow, the Labor Department will release its revised report on productivity for the third quarter. The preliminary report said that the seasonally adjusted level of nonfarm business productivity (average output per worker per hour) grew at an annualized rate of 1.1% in the third quarter of the year relative to the second. This was the slowest pace of the year so far and the previously reported increase of 4.3% in the second quarter was revised to 3.6%.

A deceleration had been anticipated, however, because of the contraction reported in the advance report on gross domestic product. Also not unexpectedly, the lower productivity growth increased unit labor costs (ULC: average cost per unit of output). According to the initial calculations, they grew by 3.6% in the third quarter following a 0.1% decline in the second (revised from the previously reported decline of 0.5%).

Forecasters are looking for a revised productivity growth rate of 0.9% in tomorrow's report.

The ISM index for the services sector of the economy will also be released tomorrow. In October, the index came in at 44.4, down sharply from September's reading of 50.2. Any reading under 50.0 reflects a general contraction in activity relative to the preceding month.

The current index, the NMI or Non-Manufacturing Index is new -- first published last January. It is a composite of four seasonally adjusted indices: business activity, new orders, employment, and supplier deliveries. October's reading is the lowest in the data series so far.

Before the NMI was instituted, the business activities index was the headline indicator on the services sector, but it is derived from a single question in the survey of business purchasing managers. The business activities index for October came in at 44.2, down from September's 52.1. It was the lowest reading since last January's 41.9 and the second lowest since October of 2001 when it came in at 40.5.

November's NMI is expected to come in at 42.5. If accurate, it would be the lowest of the eleven readings so far in the data series.

Tomorrow afternoon, the Federal Reserve will release its latest edition of the Beige Book, an anecdotal summary of economic conditions in the twelve Fed regions. The report is used as one of the background resources in the monetary policy committee's deliberations. The next policy meeting is slated for the 15th and 16th of the month.

The Beige Book rarely has much impact on the markets since previously released indicators have already sketched out the economic landscape. But any rhetorical variant, a particular focus or emphasis, could be perceived as a signal of Fed intentions and have some influence on traders. Currently, Fed watchers are anticipating another cut in the committee's target for the fed funds rate (overnight borrowing rate between banks) and the discount rate (rate charged for loans directly from the Fed).

10:30 AM EST : Stocks have bounced this morning following yesterday's plunge but gains have been relatively moderate so far. Treasuries are holding near unchanged levels with the exception of the long bond, which had risen by almost 12 points in the last four trading sessions.

There are no major economic releases scheduled and, at present, traders are treading gingerly, knowing that conditions are especially vulnerable to exaggerated price swings.

There is technical pressure weighing against Treasuries following recent strong gains and stocks may be getting a lift from traders who might think that yesterday's losses were excessive. Both bond and stock traders will be watching the performance of both markets.

Stocks are getting some additional help from word from Ford Motor Company that it may not need to access the $9 billion credit line it is requesting from the government. However, negative analyst guidance on Goldman Sachs is an offsetting influence.

Stock traders still have to contend with recent bearish economic indicators and expectations of more to come. Of particular concern is the upcoming data on the labor market in Friday's employment report for last month. Current forecasts call for a decline in nonfarm payrolls of 300,000 and a rise in the unemployment rate from 6.5% to 6.8% . . . .

source: LionMTS