How Clear is your Crystal Ball?

I have had several meetings with clients asking my opinion of where I think the market is going. It is difficult to say. We are currently in a range with Mortgage Backed Securities (MBS) that we haven't been able to sustain before. Rates are in the 4% range for a fixed loan, to me that is absolutely amazing. However, will those same rates go down to 3%? I cannot tell you. I can look at the stock markets, bond markets, commodities, gold, oil...I can watch as the European Union comes up with monetary policy and corrections to help with a Greek Bailout. But what I cannot tell you is how each move each of these different markets/countries will effect our 30 year fixed interest rate. Some days it will go up, some days it will go down.
What I can tell you, is that where rates are currently residing, whether they go up a little or down a little, they are still amazing! 4% even 5% to secure the financing you your primary residence for 30 years it unbelievable. Do not put off today what you may lose tomorrow. If you are thinking of refinancing and qualify, go for it, the difference .25% makes on you payment is less than $20 and what if by waiting...it never comes and rates continue to deteriorate instead of improve. If you have considered purchasing but haven't taken the time to get yourself approved or to find out what you need to do to get approved...it is time.
Take charge of your future and take advantage of what maybe an unprecedented time in history.

What happened to Mid-June?

I have been Facebooking, Linking In, and Twittering so much, that I forgot about blogging. Well, it is the beginning of the fourth quarter. I am doing well and have started volunteering my time again to causes that I think are important. Life is hectic, work, family, school, and volunteering. In May I thought interest rates were phenomenal, and they have continued to improve. We are now at 4% on a 30 year fixed and who knows if this is the bottom. But whether or not it is a great time to purchase and/or refinance. I hope that if you want to be a homeowner or are one, that you have had someone look at your personal situation and give you an honest assessment of how you can take advantage of this amazing market. If not, call me, I would love to help.

Mid June???

I cannot believe we are already half way through 2011. How do we put the brakes on the year? I just planted my garden, I guess I will have veggies in the fall and not the summer, if they produce at all.
The mortgage market is holding strong and I cannot believe rates are still under 5%. I do not know how much longer rates can stay this low, but if you are in the market to purchase or have the equity to refinance, now is the perfect time.
Call me if you have any questions.

Baseball/Softball Season

Completely off the topic of loans today. I love baseball/softball season. I love watching the kids grow and improve. I enjoy watching the competitiveness between rival schools and then the camaraderie after the game. I also love that in one aspect of our lives there is still competition and that it welcomed. In so many facets of our children's lives our society has made competing an ugly word. The world is all about competition, growing from it, learning from it and becoming better because of it. I hope our children know that when the get into the real world, they will have to compete for everything.

Still Here!

Just in case anyone was worried, I am still in the lending business. The government did not scare me away and I am still helping clients purchase homes with Ability Mortgage. Though after a rough few weeks, I needed some motivation. If you receive my e-magazine you may have seen this, but if you ever just needed a little motivation this is a great 2 minutes! http://www.allaboutnews.com/vc.php?a=y&b=67&i=448&rs=106459225eadf03202fc924

April 1, 2011-Will this be the end?

Tomorrow marks the beginning of compensation reform. I am one of those originators who has decided to embrace the change and not dwell on it. But I am wondering will this be the end of reform in the lending arena? Will the federal government, state, other licensing agencies go after another group of people, or is there more to be done to the originators who are still trying to make a living. I have taken tests, classes, continue to do Continuing education for both of the licenses I have. I disclose in multiple ways, multiple different subjects to home buyers. Sometimes I think all my disclosing confuses more than helps. But is all of this enough, or will there be more to be done to the loan origination side of the Real Estate market. Only time will tell.

March 9, 2011

It is almost mid-March. Time is flying. First quarter is almost complete, new laws are up and running, and newer laws are preparing to be put to use. Much will change, but as we have seen over the past two years, the more things change, the more they stay the same. Every new legislation has made lending more difficult, but we are still lending. All the new guidelines make lending a challenge, but we are still lending. The cost of making loans or getting a loan has gone up, but we are still lending and people are still borrowing. Those of us not here to make a quick buck, but to earn a living and to take care of our communities will still be here when lending is no longer under the microscope.