The Dragon Is Friendly For The Moment: Interest Rates May Hit Lowest Since November 2010

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Mortgage and Lending with SUNSTREET MORTGAGE, LLC (BK-0907366, NMLS 145171) NMLS 223495
https://activerain.com/droplet/6K2

The Dragon Is Friendly Today: Mike in Tucson, AZ mortgage lenderInterest rates may hit their lowest point since November 2010.

The Federal Reserve Bank this morning cancelled their bond auction, catching the Bond Market by surprise.  Initially, there was an official "No Comment" on the cancellation by the Fed, but shortly thereafter, the reason was given as "market volatility."  I've seen nothing on Bloomberg yet, but expect something shortly.

Of course, the stock market volatility today is sparked by the nuclear situation in Japan.

Demand for the 10 year bond picked up overnight, and then spiked on news of the cancellation of the bond auction.  (Interest rates fall when demand for bonds rises.)

The Dragon Is Friendly Today:  What it means to you as an Agent or Borrower

If you're a Real Estate Agent, get on the phone to your borrowers.  Everyone has been predicting higher interest rates, and many buyers are on the fence.  It's time to jump in the game again.

If you're a buyer, this is the time to lock in an interest rate! 

If you're buying in Arizona, call me at (520) 349-9090.

_____________________

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

NMLS #223495

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

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Rainmaker
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Team Honeycutt
Allen Tate - Concord, NC

Good timely post with some great suggestions. 

Gotta go and get on the phone.

Margaret

 

Mar 16, 2011 04:45 AM #1
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Mike Jones
SUNSTREET MORTGAGE, LLC (BK-0907366, NMLS 145171) - Tucson, AZ
Mike Jones NMLS 223495

Margaret,

Go get 'em!  Thanks for being the first to comment.

Mike in Tucson

Mar 16, 2011 04:50 AM #2
Rainmaker
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Lou Ludwig
Ludwig & Associates - Boca Raton, FL
Designations Earned CRB, CRS, CIPS, GRI, SRES, TRC

Mike

Now is a good time to take advantage of the low interest rates.

Good luck and success.

Lou Ludwig

Mar 16, 2011 10:21 AM #3
Rainmaker
88,057
Douglas Trudeau
Tierra Antigua Realty - Tucson, AZ
MBA, Assoc. Broker, Selling Tucson Real Estate

Heading for the phone. Thanks Mike.

Mar 16, 2011 03:28 PM #4
Rainmaker
911,689
Kay Van Kampen
RE/MAX Broker, RE/MAX - Springfield, MO
RealtorĀ®, Springfield Mo Real Estate
I did notice that interest rates are under 5% right now for 30 year conventional financing. The buyers need to get off the fence now!
Mar 16, 2011 03:42 PM #5
Rainmaker
861,200
Gabrielle Kamahele Rhind
KGC Properties LLC, Tucson Property Management & Real Estate - Tucson, AZ
Broker/Owner

GOOD MORNING MIKE!  Are rates low as well for investor and LOC loans?  Thanks for the push to call potential Buyers today!

Mar 17, 2011 12:15 AM #6
Rainmaker
14,804
Dana Lim
Allstate Insurance - Tucson, AZ

Hi Mikey - good information and thank you for the send out card - way cute.  Not sure I want to spend $99/year for that upgrade, however.

Mar 17, 2011 07:09 AM #7
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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

Mike - it is always interesting to get updates on the interest rates! When they went up a bit it was also great seeing how many people came out of hiding and started buying!!!!

Mar 17, 2011 08:50 AM #8
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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

Mike - do give me a head's up before your Florida trip so we can get together - your brother doesn't live that far from where I am!!!

Mar 17, 2011 09:02 AM #9
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