Market Update April 18th

Market Update April 18th:

This morning’s rally in the bond market today has been good considering rising interest rates earlier in the week. Mortgage pricing went down for the day.

The chances of 50 basis points of easing at the FOMC meeting April 30 have evaporated and are now chomping away at the 25 basis point cut signaling that the credit crisis could be near the end.

***Do you know someone who wants a mortgage at less than 5%? Call me for details.***

***100% financing to $500,000? Ask me how.***

See the articles below: The big news for the day was Google reports a 30% profit increase which blew most analyst projects out of the water.

http://www.mydesert.com/apps/pbcs.dll/article?AID=/20080412/BUSINESS04/804120312/1043/business04
http://money.cnn.com/2008/04/18/markets/markets_newyork/index.htm?postversion=2008041817

Have a great weekend and by the way, I’m never too busy for any of your mortgage referrals!

Market Update

Market Update:

Rates are ending stable this week. With mortgage back securities at the highest levels of the year. This is good for mortgage pricing.

GE annouced today that 1st quarter earnings are lower than expected and that future earnings will be lower than previously expected.

I recommend to float interest rates until next week to see what the stock market does in reaction to the GE reports.

***Do you know someone who wants a mortgage at less than 5%? Call me for details.***

***100% financing to $500,000? Ask me how.***

Jobs Report

Attached you will find my current rate sheet for the weekend. These rates have been accumulated from, Chase, Wells Fargo, IndyMac, Countrywide, Citi Mortgage, Wachovia, Everbank, and Washington Mutual. I have handpicked the best rates from all these banks for the most popular loan programs, so that I can ensure you and your clients the very best deal.

Market Update:

Rates ended down for the week by 0.25% on Conforming Loans 30 Fix and stayed about the same for Jumbo 30 yr Fix

Today the jobs report came out with a revision of 80,000 job losses for March. This allows mortgage pricing to stay lower longer. It reported the biggest job loss in five years with the unemployment rate eclipsing the 5% mark.

The jobs report is the economic number with the biggest impact on mortgage rates.

Do you know someone who wants a mortgage at less than 5%? Call me for details.

100% financing to $500,000? Ask me how.

Have a great weekend and by the way, I’m never too busy for any of your mortgage referrals!

The Mortgage Business of 2008 Quick Tips

The mortgage business of 2008 is turning into a wild ride! It’s like a never ending adventure that continues to throw a curve balls in my direction. Some of the things I’ve learned recently.

1. Canadian financing… requires 30% down. No income needs to be verified, no social security number, or credit report. I’ve got several programs to help with Canadian or foreign national financing.

2. FHA property flipping states that a seller cannot hold title to a property for less than 90 days which includes the purchase agreement dates. Make sure its more than 90 days from when the purchase agreement is signed.

3. 100% financing is still available… ask me how.

4. Most people don’t understand the benefits of reverse mortgages. If you are home equity rich and cash flow poor reverse mortgages can make sense.

5. Many banks are moving away from stated income, stated asset loan programs and most have discontinued no document and no ratio programs.

Call Sean La Rue at (760)837-1488 or simply apply at Loan Application