I'd like to wish everyone a very Merry Christmas and a Happy New Year!
Remember to Spread the news! 30 year fixed rates are at or near 4.875% and will probably stabilize in the mid to high 4% soon. Let your potential buyers know that pre-qualifying now, more than ever, is very important. Not only will it let them know where they stand for approval but acting quickly can get them ahead of a potential "Land Rush!"
After a few brutal months in the mortgage industry many lenders have downsized or left the business all together. Experience and Abilty are now paramount. We're going to get real busy, real fast. Even if a potential buyer has just started looking, getting pre-qualified now will put them closer to the front of the line for processing their files when they do make an offer.
By the way.....FHA downpayment requirements increase to 3.5% from 3.0% on January 1st, 2009. Lots of first time homebuyer incentives available. Visit www.jackadkins.com for links to info. Call anytime for rate updates or answers to mortgage questions.
Good Bye (and good riddance) 2008! Hello 2009!!
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