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!
Market Update April 25th:
Rates have certainly been busy moving up and down, but no worries! This is just part of the market. Rates don’t typically move this much, but in this market anything can happen. Remember what goes up must go down and it’s all part of the market game. Stay tuned for more information.
· Wednesday the Fed has a meeting schedule and from what I understand there is a 75% chance the Fed will cut another 0.25% to the Fed funds rate
· Interest rates are down by about 0.125% this week when compared to last week
· Your client should float at least until Monday or Tuesday because rates are usually get a little better right before the Fed meeting
Make it a great weekend! Oh by the way, I’m NEVER too busy for any of your referrals.
Happy New Year!
Hope you had a great week getting back to work. Check out today’s rate sheet attached in PDF format. Mortgage Bond pricing is at the best levels since September 2005. This result comes from a Jobs report that showed only 18,000 news jobs created when expectations were 70,000. With the unemployment rate up a tick to 5.0% from 4.7% the weaker economic news is stirring the markets and improving bond pricing. If you have buyers or past clients interested in purchase or refinance money NOW is a great time. Let me help you get them pre-qualified and provide them the information needed to decide on the best loan program for their situation.
I am NEVER too busy for any of your referrals! Have a great weekend.