Wow another great – shortened week! I know you are getting busy out there! Let me know what I can do to help. Make it a great weekend!
The Jobs Report for August came in this morning at 84,000 jobs lost. But the real buzz in trading is the swelling unemployment rate, which jumped from 5.7% to 6.1%. This marks the highest unemployment rate since September 2003.
Mortgage pricing has been on a rally for the past several days and looks like it’s about to turn the other way. It’ll interesting to see what happens next week! Stay tuned!
It’s shaping up to be a busy month! Interest rates are at a 4 month low and I’m continuing to watch the bond market for you. See the article attached as well as the newsletter for an industry update. Make it a great month and if I can help you are someone you know with a purchase mortgage or refinance. Attached is a free appraisal flyer for you to use or give to a friend.
Has the Housing Bubble Popped?
Make it great!
Oh by the way, I’m never too busy for any of your referrals.
THE TIME IS NEARING END FOR NEHEMIAH AND DOWN PAYMENT ASSISTANCE PROGRAMS (DAP)!
Let’s get those buyers off the fence asap! Franklin Loan Center’s platform is strong so utilize me with your clients who need to close fast. FHA IN 21-30 DAYS! At the end of September, as you know, the DAP will be going away, yet we have until September 5th to get the deals accepted and opened. If you have a buyer who needs to use these programs call me asap! If they can’t close before the end of September we can use a gift from a family member or other non-profit organization as long as the seller is not contributing toward the downpayment, up to 6% toward closing costs are still okay!
Call me today to get the ball rolling. I’ll pay for the appraisal send along the attached flyer with your client during the pre-qual interview.
I’m never too busy for any of your referrals.
Give me the opportunity to make you look good…
We’ve had a great rally this week in the mortgage market and I’ve locked my pipeline to protect my clients from higher interest rates. This week I’ve save most of my clients 0.125% or more on their interest rate and they’re happy with the lower payments.
FHA loans and are going strong. Franklin Loan Center’s in-house closing platform is getting the job done quickly and the ability to sign loan docs in-house makes it easy for the clients with out-of-the-area escrow companies.
This week there are several important reports coming out to gauge where the economy is and is going. With the current volatility in the mortgage industry, true knowledge and insight are more valuable than ever, which is why I monitor the market throughout the day and keep you informed of changes that impact you.
Even though the media is saying it’s tough to get qualified for a mortgage I am not finding that to be true. Let me know what I can do to help your clients get qualified! Make it a great week!
Mortgage Bonds are trading higher this morning, despite a report that manufacturing in NY is stronger than anticipated.
Normally a better-than-expected economic report would be bad for Bond prices. However, the declining prices of oil, precious metals and other commodities have decreased inflationary pressures and have helped push Bonds higher so far today.
We got a rally late today for the better I recommend floating for now.
The Fed announced on Tuesday that they have decided to keep the Fed Funds Rate at 2%, and released a statement that hinted they may not raise the Fed Funds Rate in the near future.
Last weeks rates improved slightly as bonds tried to rebound off the previous weeks losses. Philly Fed President is continuing to warn about inflation and it’s possible that fed rate hikes will be coming shortly. This is a good thing for the bond market because mortgage rates should come down. Following that your wallets at the pump should hopefully stay full. See the newsletter below to get some helpful gas saving tips that you can pass along to your clients.
Make it a great week!