Mortgage rates hit 4.75% today for a short window for conventional loans over $325,000 and for borrowers with excellent credit.? This is an amazing rate for a 30 year fixed rate loan!? If you are in the market to buy a home and you have been waiting for rates to drop... NOW IS THE TIME! I have been in this business for over 10 years now, and I have seen low rates before.? Continue Reading about Mortgage Rates at 4.75%?
Mortgages rates for conventional, FHA and VA loans have dropped to near record lows, but might now stay there long! The federal government has been in the news daily trying to do something to weaken the recession. With the U.S. auto industry on the brink of bankruptcy, home prices still in decline and a seized up credit market, Treasury Secretary, Hank Paulson, has been trying different ideas Continue Reading about Fort Mill Real Estate – Mortgage Update December 7 2008
#1. YES, YES, YES! Mortgage brokers, mortgage bankers and local banks are still making loans everyday for the purchase of homes. ONLY the following scenarios have gotten very restrictive: ? Investment Properties ? Buying a new house before selling your current house ? Credit Scores below 580 If you don't fall into one of the categories above, the chances are good that you will Continue Reading about Credit Crisis-Are Mortgage Companies Still Lending Money?
? Today was the first day in history that the DOW has traded up and down over 1000 points! What a ride, and if you aren't too tired to read a little more maybe I can make some sense of the current craziness! #1. "There is only one 'end of the world' and this ain't it!", stated one pundit on CNBC today. I liked the quote because it puts this mess in perspective. If everything always went Continue Reading about Today’s Craziness On Wall Street Might Signal A Bottom, But What Does That Mean For The Tega Cay Housing Market?
Maybe, but if you aren't ready for it you might miss out! The Fed just cut their rate by 1/2 point but mortgage rates are still rising. The stock market is getting it's teeth kicked in, but mortgage rates are still rising. Inflation has moderated and even energy prices have started to decline, but mortgage rates are still rising. WHAT IS GOING ON??? Mortgage rates are controlled by mortgage Continue Reading about Fort Mill Mortgage Rates, Is There A Major Mortgage Rate Drop On The Horizon?
There are plenty of mortgage lenders in Charlotte still making new loans! The sky is falling. I just got hit in the head with a piece a few minutes ago! Just kidding but based on the public reaction lately its hard not to think I fell asleep a couple weeks ago and can't wake up from the nightmare. I have clients calling daily now asking, "Are we still closing next week? Do you still have Continue Reading about Charlotte Mortgage Lenders Are NOT Out Of Money!
Mortgage Rates Move Lower! Wall Street has been the best roller coaster ride around this past week! What a move... from one of the worst days ever to 2 of the best! Typically what's bad for Wall Street is great for rates, but these are not typical times. Below I will explain a little about what is driving Wall Street and mortgage rates. The recent credit crisis has fueled uncertainty Continue Reading about Fort Mill Real Estate Mortgage Market Update September 19, 2008
Mortgage Rates Drop! Mortgage rates saw a tremendous drop this past week! Most fixed rate program have dropped almost 1/2 percent in the last 10 days, and I think they may go lower. Many financial experts are seeing an end to the rise in commodity prices (oil, natural gas, corn, etc...). When raw materials are cheaper, business can pass savings along to consumers and retail prices for many Continue Reading about Fort Mill Real Estate-Mortgage Market Update September 5, 2008