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Interest Rates: Make Hay While The Sun Shines!

By Mike Jones

Mortgage and Lending with SUNSTREET MORTGAGE, LLC (BK-0907366, NMLS 145171) NMLS 223495

July 20, 2010 02:57 AM

Sunflower: Mike in Tucson

Butterfly on sunflower: Mike in Tucson

Pretty, isn't it? It won't last.

The same is true with the extraordinarily low interest rates available right now.

They won't last.

Don't be a spectator. Jump in and get that low-interest-rate nectar while the getting's good.

Real world conditions

The US has more than $8 trillion in Treasuries outstanding. That's nearly double the amount just three years ago.
China, who holds much of our debt, is experiencing a real estate bubble, with values up nearly 12% from a year ago. It's economic expansion is slowing, though, and that's going to be a problem.
Europe hasn't figured out how it's going to solve the sovereign debt problems of members Greece, Portugal & Spain.

The risk of hyper-inflation has not gone away, and no one in the press (other than talk-radio stations) is taking Congress or our present Administration to task for fiscal irresponsibility.

I'm just sayin...

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I'm Mike in Tucson, your preferred Tucson Mortgage Lender.

NMLS #223495

SUNSTREET MORTGAGE llc ~ Correspondent Mortgage Bank
Offices (AZ) Mesa, Tucson, Nogales, and Albuquerque, NM.

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520.349.9090

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Joan Cox

House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO

Denver Real Estate - Selling One Home at a Time

If buyers don't buy right now while the rates are low, they just won't buy!

Jul 20, 2010 02:58 AM

Mike Jones

SUNSTREET MORTGAGE, LLC (BK-0907366, NMLS 145171) - Tucson, AZ

Mike Jones NMLS 223495

Joan,

It's suprising to find that there are still buyers out there who don't have a clear picture of their ability to buy, and who are preoccupied with other parts of their lives. Agents need to give a clear call to action. So do lenders.

Mike in Tucson

Jul 20, 2010 03:01 AM

William J. Archambault, Jr.

The Real Estate Investment Institute - Houston, TX

Mike,

"Don't be a spectator. Jump in and get that low-interest-rate nectar while the getting's good."

Great and timely advice, extremely well illustrated!

Bill

Jul 20, 2010 03:07 AM

Mike Jones

SUNSTREET MORTGAGE, LLC (BK-0907366, NMLS 145171) - Tucson, AZ

Mike Jones NMLS 223495

Bill,

Thanks for the encouragement. I thought about including this photo, with the advice: "Get it before it gets trampled." LOL

Mike in Tucson

Jul 20, 2010 03:16 AM

C. Bartch

Newark, OH

I was popping over here to see what eye candy you were bringing me today Mike and here I got wise advice too! The rates are unbelievable, I thoughI'd never see these numbers ever again in my lifetime!!! I certainly didn't hesitate to take advantage of them.

Love the second creature photo along w/ your other title too.

Jul 20, 2010 03:48 AM

William J. Archambault, Jr.

The Real Estate Investment Institute - Houston, TX

Amen!

Jul 20, 2010 04:21 AM

Margaret Rome Baltimore 410-530-2400

HomeRome Realty 410-530-2400 - Pikesville, MD

Sell Your Home With Margaret Rome

Mike,

You really know how to make a point with your gorgeous photography and words of wisdom. It "ain't gonna last!"

Margaret

Jul 20, 2010 04:48 AM

Mike Jones

SUNSTREET MORTGAGE, LLC (BK-0907366, NMLS 145171) - Tucson, AZ

Mike Jones NMLS 223495

Margaret,

It's good to see you; thanks for commenting!

Bill,

Welcome back! LOL

Cynthia,

Aren't those sunflowers beautiful! Thanks for commenting.

Mike in Tucson

Jul 20, 2010 10:22 AM

Tony and Suzanne Marriott, Associate Brokers

Serving the Greater Phoenix and Scottsdale Metropolitan Area - Scottsdale, AZ

Haven Express @ Keller Williams Arizona Realty

Mike - I hate to be the one to bring this to your attention - but have you visited this page recently? :-)

http://activerain.com/states/AZ

Jul 20, 2010 12:48 PM

Mike Jones

SUNSTREET MORTGAGE, LLC (BK-0907366, NMLS 145171) - Tucson, AZ

Mike Jones NMLS 223495

Tony, you dog! LOL

Seriously, I saw that we had flip-flopped this afternoon, and didn't have time to call you. Congrats!

Mike in Tucson

Jul 20, 2010 02:19 PM

Karen Cooper

Karen Cooper | Sr Mortgage Loan Originator ! NMLS # 223305 | First Federal Bank of Florida, Ocala, FL - The Villages, FL

Helping Homeowners w/Home Loans in 27 US States

Hi Mike - lovely illustration of a poignant point. You come up with some fabulous posts!

Jul 20, 2010 05:27 PM

Tony and Suzanne Marriott, Associate Brokers

Serving the Greater Phoenix and Scottsdale Metropolitan Area - Scottsdale, AZ

Haven Express @ Keller Williams Arizona Realty

Mike - You are still the AZ AR Dude! When I can take photos like the ones you take - then we'll talk! :-)

Jul 20, 2010 07:11 PM

Eleanor Thorne

Equity Resources - Cary, NC

Advantage Lending 919-649-5058

Mike - I agree. They will be way back up to 5% before you know it!

Jul 21, 2010 02:16 AM

Barbara-Jo Roberts Berberi, MA, PSA, TRC - Greater Clearwater Florida Residential Real Estate Professional

Charles Rutenberg Realty - Clearwater, FL

Palm Harbor, Dunedin, Clearwater, Safety Harbor

Great post! You are so right, these rates won't last long!

Jul 21, 2010 08:13 AM

1~Judi Barrett

Integrity Real Estate Services 116 SE AVE N, Idabel, OK 74745 - Idabel, OK

BS Ed, Integrity Real Estate Services -IDABEL OK

I have been so surprised that they have remained low for so long... I keep expecting them to climb..

Jul 21, 2010 02:47 PM

Chris Olsen

Olsen Ziegler Realty - Cleveland, OH

Broker Owner Cleveland Ohio Real Estate

Hi Mike -- Your photos are AMAZING. The colors are brilliant, let alone the composition. I love the metaphor and very true. I once had a loan officer tell me that every 1% rise in interest rates equates to a 10% decline in property values to keep the payment the same with the point being, the risk is much more with interest rates rising versus buyers focusing on a potential decline in values. Future values cannot be known, but when interest rates rise, you know it instantly and that risk is real. No time like the present?

Jul 23, 2010 03:35 PM

Adam R. Cohn

STANDARD MORTGAGE CO. - Delray Beach, FL

We actually get mortgages closed FAST!

Mike,

Great blog, I am going to re-post it. Have a great day!

Sep 08, 2010 04:48 AM