I am still cranking out loans and what a great week! Franklin Loan Center is continuing to expand their underwriting, processing, and funding departments to make your fundings quicker and make you look good! Use us and experience the difference! We are continuing to expand our platform to remain competitive for loan programs. Cal-HFA, USDA, FHA, VA, Reverse Mortgages and Hard Money, as well. Call me for all of your funding needs!!
GO TO http://www.DESERTFHA.com TO RSVP FOR MY FHA EVENT ON TUESDAY MORNING 8:30 TO 10:00AM AT CDAR. (See the attached flyer)
Mortgage Bonds are attempting to build on the gains seen over the past two days, after being helped by some weak news in the Housing sector.
The lower-than-expected New Homes Sales for September were reported at their lowest level since January 1991. Additionally, building permits came in at a 27-year low. This weaker-than-expected news gave Mortgage Bonds a bit of a boost today.
Stocks continued their volatile ride yesterday as the Dow climbed a staggering 400 points after being down 400 on the day. This wild volatility demonstrates the need to work with a mortgage professional who is knowledgeable about the market in these crazy times. For now, I recommend floating to see if Bonds can continue to build on their momentum. I will be monitoring the situation carefully, and I will let you know if anything changes.
Happy Friday! Please don’t forget to RSVP for the event on Monday morning at 8:30am. RSVP at http://www.DesertFHA.com The flyer is attached. Thank you if you’ve already RSVPed. I’ve got your seat reserved.
New Home sales for June were reported at 530,000–which was far better than expectations of 505,000. In addition, Orders for Durable Goods came in well above expectations and the Consumer Sentiment Index shocked the markets with a very robust reading.
The positive readings are helping to strengthen the US Dollar and even lower Oil prices. As a result of these shifts, a Fed rate hike may be on its way in within the next few months–though probably not at next week’s Fed meeting.
Do you have a listing that needs repair to be habitable or comply with lending guidelines? Do you have a buyer looking at a property that needs some serious help?! Ask me about REHAB LOANS to get your buyers the homes the want and the financing they need to turn a junker into a castle. Ask me how it can be done.
Crude oil futures jumped almost $5 per barrel this morning to hit a new high over $147 per barrel. The sharp rise is due to increasing tensions in the Middle East between Iran and Israel, as well as rebel threats in Nigeria and a planned strike of oil workers in Brazil next week.
I’ve had several questions about Fannie and Freddie Mac today. See the article below.