The very good news is that our phones are ringing off the wall with new buyers! Our leads for January are up 58% (I have not counted refinance calls, only buyers). So that means our realtor friends are BUSY! Yea!!!!!! We are pre approving buyers instantaneously, so let’s say within an hour. Keep your referrals coming, and we are so appreciative! In addition, our closing times are still averaging 21 days. Please be sure to call us and confirm a quick close before the contract is finalized.
In the markets…………
Wednesday’s Fed announcement was favorable for mortgage rates. There were some major surprises in the forecasts, like “economic conditions will allow the fed funds rate to remain at low levels until 2014”. Wow, that is 2 years from now. Secondly, Fed Chief Bernanke suggested that Fed officials would like to see stronger economic growth, and they are open to the possibility of additional Fed easing (aka: the Fed would continue to purchase their own mortgage backed securities).
To sum it all up, for now, the rates are so very nice, and will fuel our economy this year as home sales continue to rise! It’s great to live in Houston TX!
Enjoy your weekend!
RATES as of January 27, 2012 (UNCHANGED for the week)
The following assumptions apply:
• 20% Down Payment (Conforming) / 25% Down Payment Jumbo (Lower down payments available – call for details)
• 1% Origination Fee
• Escrows Required (if no escrow, higher fees may apply)
• Purchase Transactions, Primary Residence (Refinances have different rates)
• 30 day closing
• Credit Score 740 +
• Debt to income ratio <=40%
• Full Documentation of Income/Assets
Conforming ($200,000* - $417,000) Jumbo ($417,001- $1,000,000*)
10 year (fixed) 2.875% APR 3.189% 15 year ( fixed ) 3.625% APR 3.821 %
15 year (fixed) 3.000% APR 3.217% 30 year ( fixed ) 4.375% APR 4.489%
30 year (fixed) 3.750% APR 3.874%
7/1 ARM 3.000% APR 3.318% 5/1 ARM 2.750% APR 3.259%
7/1 ARM 2.875% APR 3.246%
5/1 ARM 2.750% APR 3.272% 10/1 ARM 3.875% APR 3.792%
FHA call for quote (max loan $270,000) 5/5 ARM 3.000% APR 3.004%
We do originate loans below $200,000. These amounts are chosen to show the most favorable rates.
For other product options or for loan amounts less than $200,000 or above $900,000 please call for quote.
Call for details!
Friday, January 27, 2012
Friday, January 6, 2012
Friday, January 6, 2012
When a potential buyer or seller ask you WHY they should choose you as their realtor, do you have your ‘Elevator Speech’ ready and memorized? I have a few, depending on who my audience is: ‘We close accurately and on time’, or ‘our average close time is 21 days’, or ‘Our company is large enough to serve you, and small enough to know you’. TAR, November 2011, had a great article about this exact topic. They suggest that your pitch has the following : (a) State your business as a benefit (b) make a connection (c) ask a question (d) Rehearse, but don’t sound rehearsed and (e) shorter is better. Good luck!
Tell your buyers to hurry up and buy. That’s my opinion. Higher rates and home prices might just be here sooner than you think.
Today unemployment numbers were released, showing the addition of 200k jobs (more than expected). We are sitting on 2 quarters of positive job growth, some that our country has not seen in 3 years. Investors are holding onto cash (ex: Apple is rumored to have 800 billion in cash), as well as hedge fund managers, banks, etc. When they start to put those dollars to work in the economy, THAT is when the rates will rise. Jobs will be created, R&D will happen, companies will expand.
In Houston we are already seeing the seeds being planted for growth. The Houston Business Journal (Dec 16-22) cited the largest commercial deals of 2011. Wolff Co purchased an 18 acre tract in the Energy Corridor he has tried to purchase for 30 years. Our hotel occupancy rate was 2nd in the nation, next to Nashville (and double the national average). Exxon is building the new campus in the Woodlands. Shell renewed their lease for 25 years downtown, The Hess Tower sold for the highest price per sq foot in our city’s history……I could keep going. Just read the article! The take away here is growth, growth, and more growth. This will be positive for home sales no matter how you look at it. Even with higher rates, buyers will buy and sellers will sell. They always have!
Currently, the rates are being held low as investors worldwide are investing in US bonds. They are terrified of Europe, and China is the only true stable economy, but……….would you invest your money there? Exactly. So that leaves the U.S. Let’s enjoy it while we can.
Have a fabulous weekend!
RATES as of January 6, 2012 (UNCHANGED for the week)
The following assumptions apply:
• 20% Down Payment (Conforming) / 25% Down Payment Jumbo (Lower down payments available – call for details)
• 1% Origination Fee
• Escrows Required (if no escrow, higher fees may apply)
• Purchase Transactions, Primary Residence (Refinances have different rates)
• 30 day closing
• Credit Score 740 +
• Debt to income ratio <=40%
• Full Documentation of Income/Assets
Conforming ($200,000* - $417,000) Jumbo ($417,001- $1,000,000*)
10 year (fixed) 2.875% APR 3.189% 15 year ( fixed ) 3.750% APR 3.946 %
15 year (fixed) 3.250% APR 3.468% 30 year ( fixed ) 4.500% APR 4.615%
30 year (fixed) 3.875% APR 4.000%
7/1 ARM 3.000% APR 3.323% 5/1 ARM 3.000% APR 3.353%
7/1 ARM 3.000% APR 3.310%
5/1 ARM 2.750% APR 3.279% 10/1 ARM 3.875% APR 3.796%
FHA call for quote (max loan $270,000) 5/5 ARM 3.000% APR 3.004%
We do originate loans below $200,000. These amounts are chosen to show the most favorable rates.
For other product options or for loan amounts less than $200,000 or above $900,000 please call for quote.
Call for details!
Tell your buyers to hurry up and buy. That’s my opinion. Higher rates and home prices might just be here sooner than you think.
Today unemployment numbers were released, showing the addition of 200k jobs (more than expected). We are sitting on 2 quarters of positive job growth, some that our country has not seen in 3 years. Investors are holding onto cash (ex: Apple is rumored to have 800 billion in cash), as well as hedge fund managers, banks, etc. When they start to put those dollars to work in the economy, THAT is when the rates will rise. Jobs will be created, R&D will happen, companies will expand.
In Houston we are already seeing the seeds being planted for growth. The Houston Business Journal (Dec 16-22) cited the largest commercial deals of 2011. Wolff Co purchased an 18 acre tract in the Energy Corridor he has tried to purchase for 30 years. Our hotel occupancy rate was 2nd in the nation, next to Nashville (and double the national average). Exxon is building the new campus in the Woodlands. Shell renewed their lease for 25 years downtown, The Hess Tower sold for the highest price per sq foot in our city’s history……I could keep going. Just read the article! The take away here is growth, growth, and more growth. This will be positive for home sales no matter how you look at it. Even with higher rates, buyers will buy and sellers will sell. They always have!
Currently, the rates are being held low as investors worldwide are investing in US bonds. They are terrified of Europe, and China is the only true stable economy, but……….would you invest your money there? Exactly. So that leaves the U.S. Let’s enjoy it while we can.
Have a fabulous weekend!
RATES as of January 6, 2012 (UNCHANGED for the week)
The following assumptions apply:
• 20% Down Payment (Conforming) / 25% Down Payment Jumbo (Lower down payments available – call for details)
• 1% Origination Fee
• Escrows Required (if no escrow, higher fees may apply)
• Purchase Transactions, Primary Residence (Refinances have different rates)
• 30 day closing
• Credit Score 740 +
• Debt to income ratio <=40%
• Full Documentation of Income/Assets
Conforming ($200,000* - $417,000) Jumbo ($417,001- $1,000,000*)
10 year (fixed) 2.875% APR 3.189% 15 year ( fixed ) 3.750% APR 3.946 %
15 year (fixed) 3.250% APR 3.468% 30 year ( fixed ) 4.500% APR 4.615%
30 year (fixed) 3.875% APR 4.000%
7/1 ARM 3.000% APR 3.323% 5/1 ARM 3.000% APR 3.353%
7/1 ARM 3.000% APR 3.310%
5/1 ARM 2.750% APR 3.279% 10/1 ARM 3.875% APR 3.796%
FHA call for quote (max loan $270,000) 5/5 ARM 3.000% APR 3.004%
We do originate loans below $200,000. These amounts are chosen to show the most favorable rates.
For other product options or for loan amounts less than $200,000 or above $900,000 please call for quote.
Call for details!
Tuesday, January 3, 2012
December 20, 2011
So what does ‘Auld Lang Syne’ mean anyway? I am apparently one of the 85% of the people polled (by stv.tv- a Scottish broadcasting company) that don’t even have a clue. Did you know that they also polled that 74% of the people (I am assuming Scots were polled) that just mime the lyrics, because they have no idea? So I went to Google. It means literally “for the sake of old times”, and also could be interpreted as “old long ago”, or “old long since”. In the 1700s, when James Watson (1711) and later Robert Burns (1788) released the lyrics, they meant for the meaning to be a remembrance of the last year. Later, the British caught on, and it slowly migrated around the world with the British. In 1939, a Canadian band leader (Guy Lombardo) popularized the song for New Years Eve.
Let us remember the last year, and be grateful! As for myself, personally, I saved 33% of my income, I am 20 pounds lighter, and I competed in 2 triathlons (sprint). We did mourn the loss of 2 loved ones, but that also brought me closer to others, and for that I am grateful. Professionally, for what I am most grateful, is to have supportive friendships in our referral partners, that through their trusted endorsements, we were able to help 216 families purchase a home or refinance this year (up 13% from the year before).
We look forward to strengthening our friendships with you in 2012, and wish you and your family the most prosperous New Year!
Cheers!
RATES as of December 30, 2011 (DOWN for the week)
The following assumptions apply:
• 20% Down Payment (Conforming) / 25% Down Payment Jumbo (Lower down payments available – call for details)
• 1% Origination Fee
• Escrows Required (if no escrow, higher fees may apply)
• Purchase Transactions, Primary Residence (Refinances have different rates)
• 30 day closing
• Credit Score 740 +
• Debt to income ratio <=40%
• Full Documentation of Income/Assets
Conforming ($200,000* - $417,000) Jumbo ($417,001- $1,000,000*)
10 year (fixed) 2.875% APR 3.189% 15 year ( fixed ) 3.875% APR 4.072%
15 year (fixed) 3.125% APR 3.343% 30 year ( fixed ) 4.500% APR 4.615%
30 year (fixed) 3.750% APR 3.874%
7/1 ARM 3.000% APR 3.322% 5/1 ARM 3.125% APR 3.369%
7/1 ARM 3.500% APR 3.543%
5/1 ARM 2.750% APR 3.278% 10/1 ARM 3.750% APR 3.717%
FHA call for quote (max loan $270,000) 5/5 ARM 3.250% APR 3.091%
We do originate loans below $200,000. These amounts are chosen to show the most favorable rates.
For other product options or for loan amounts less than $200,000 or above $900,000 please call for quote.
Call for details!
If you know of someone who would appreciate my services, please contact me with their name and number and I will be happy to help them!
Let us remember the last year, and be grateful! As for myself, personally, I saved 33% of my income, I am 20 pounds lighter, and I competed in 2 triathlons (sprint). We did mourn the loss of 2 loved ones, but that also brought me closer to others, and for that I am grateful. Professionally, for what I am most grateful, is to have supportive friendships in our referral partners, that through their trusted endorsements, we were able to help 216 families purchase a home or refinance this year (up 13% from the year before).
We look forward to strengthening our friendships with you in 2012, and wish you and your family the most prosperous New Year!
Cheers!
RATES as of December 30, 2011 (DOWN for the week)
The following assumptions apply:
• 20% Down Payment (Conforming) / 25% Down Payment Jumbo (Lower down payments available – call for details)
• 1% Origination Fee
• Escrows Required (if no escrow, higher fees may apply)
• Purchase Transactions, Primary Residence (Refinances have different rates)
• 30 day closing
• Credit Score 740 +
• Debt to income ratio <=40%
• Full Documentation of Income/Assets
Conforming ($200,000* - $417,000) Jumbo ($417,001- $1,000,000*)
10 year (fixed) 2.875% APR 3.189% 15 year ( fixed ) 3.875% APR 4.072%
15 year (fixed) 3.125% APR 3.343% 30 year ( fixed ) 4.500% APR 4.615%
30 year (fixed) 3.750% APR 3.874%
7/1 ARM 3.000% APR 3.322% 5/1 ARM 3.125% APR 3.369%
7/1 ARM 3.500% APR 3.543%
5/1 ARM 2.750% APR 3.278% 10/1 ARM 3.750% APR 3.717%
FHA call for quote (max loan $270,000) 5/5 ARM 3.250% APR 3.091%
We do originate loans below $200,000. These amounts are chosen to show the most favorable rates.
For other product options or for loan amounts less than $200,000 or above $900,000 please call for quote.
Call for details!
If you know of someone who would appreciate my services, please contact me with their name and number and I will be happy to help them!
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