Interest Rate Update 04/30/13

Happy Friday!

Let's take a break from rates today and focus on energy! Something we could all use more of these days in this crazy market.  "The Energy Bus" by Jon Gordon, is by far the most inspiring book I have read in a while.

Not wanting to spoil the read, but here are some bullet points we can all learn from immediately:

*All of us have layers of dust that once brushed away, there is gold underneath! Help those around you 'dust off' and discover their layer of gold'.

*Trust great things are going to happen!

*Our life, our family, our teams, are a reflection of ourselves. We are a mirror image of the energy we put out.

*Don't waste energy on those that don't want to get on your bus!!!!!

*YOU ARE THE DRIVER OF YOUR BUS!

The Hernandez Team wishes you a peaceful weekend, and may you encounter much energy to propel continued success!!!!

"I am not bound to will. 

I am bound to be true.

I am not bound to succeed, but I am bound to live up to the light that I have."

----Abraham Lincoln

RATES as of April 26^th, 2013 (Up 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)         2.375%       APR 2.699 %	15 year ( fixed )         3.000%        APR  3.195%
15 year (fixed)         2.500%       APR 2.723%	30 year ( fixed )         3.500%        APR  3.610%
30 year (fixed)         3.375%       APR 3.501% 7/1 ARM                     2.500%       APR 2.915%	5/1 ARM                        2.250%        APR  2.875% 7/1 ARM                        2.500%        APR  2.900%
5/1 ARM                     2.375%       APR 2.932%	10/1 ARM                     3.125%        APR  3.201%
FHA/VA         call for quote (max loan $270,000)

  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!

Jennifer Hernandez & Team

Kenny, Sandra, Nancy, Jimmy, Heath, Norma, Jason, Stella & Monique 

Interest Rate Update 04/23/13

Did you know that Houston created as many jobs in February this year as Austin in the last 12 months? There is nothing wrong with Austin, mind you…but to put things into perspective at how large our influx of new employees really is. The Houston-Sugarland-Baytown Metro Area led the state in (annual) job growth, adding 118,700 new jobs, a 4.5% increase, in the 12 months ending February 2013.  Many would say (including myself) that this is one of the main reasons we are seeing low inventory. More employees, more families need housing , and more activity for Houston! With the abrupt stop in ‘spec’ building in 08/09, many builders only built on an ‘as contracted’ basis. Therefore, available inventory dwindled.  The market of late has had to depend on resale of homes to house these new Houstonians!  We see builders now building specs for some time, but its not fast enough to keep up with demand.  Wow………………..It’s been crazy.

In the markets………While it was a rough week for the stock market, mortgage markets were very quiet. The economic data contained no major surprises, and there was little change in mortgage rates during the week.

The economic news this week showed that inflation levels remain low. The most closely watched US inflation indicator revealed that March Core CPI inflation was just 1.9% higher than one year ago. In addition, China, the world's second largest economy, reported lower than expected first quarter GDP growth. Declining commodity prices help keep inflation in check. Low inflation is always good news for mortgage rates. It is even more important right now because the Fed has announced that its MBS and Treasury purchase program will be scaled back or concluded if inflation is seen to be rising too rapidly. The Fed's program has been instrumental in keeping mortgage rates low.

The economic growth rate in the US is also very favorable for mortgage rates right now. Most signs point to steady growth at a modest rate this year. The Fed's Beige Book, released this week, reported moderate economic growth in most regions through early April. The Fed's Lacker stated that he sees the economy growing at a 2.0% annual rate this year, which is similar to the consensus view of Wall Street economists. Modest economic growth with low inflation is the sweet spot for mortgage rates.

Enjoy the weekend!

RATES as of April 18^th, 2013 (Up 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)         2.500%       APR 2.612 %	15 year ( fixed )         3.625%        APR  3.659%
15 year (fixed)         2.625%       APR 2.702%	30 year ( fixed )         3.875%        APR  3.894%
30 year (fixed)         3.375%       APR 3.418% 7/1 ARM                     2.500%       APR 5.101%	5/1 ARM                        2.375%        APR  5.494% 7/1 ARM                        2.875%        APR  5.422%
5/1 ARM                     2.500%       APR 5.636%	10/1 ARM                     3.125%        APR  4.989%
FHA/VA         call for quote (max loan $270,000)

  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!

Jennifer Hernandez & Team

Kenny, Sandra, Nancy, Jimmy, Heath, Norma, Jason, Stella & Monique

Patriot Bank Mortgage

NMLS# 514497

Office:          713-337-8400

E-mail:   jennifer@patriotbankusa.com

Website: www.applywithpatriot.com   

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Interest Rate Update for 04/16/13

So today I taught a Lunch and Learn about Time Management to a dozen of my referring realtors. We talked about tactics to save you one hour a day, and how to avoid derailment! Or at least make it shorter in nature. If you are like me, you can sit at your desk and get LOST in paperwork literally for hours. SET YOUR IPHONE TIMER to 15, 20,30 minutes (example) that you want to QUIT the task, and it will sound off, and bring you back into the reality that you need to move onto something else!

No market news this week. RATES ARE LOW. THAT’S IT!

TAX DEADLINE IS Monday, April 15!

A GREAT ARTICLE about the Tax Benefits of Homeownership:  

http://www.nahb.org/generic.aspx?genericContentID=113542&channelID=311

It’s a beautiful weekend, and I bet you are showing houses. Good luck, and if you need us, we are here!

RATES as of April 12^th, 2013 (Up 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)         2.500%       APR 2.612 %	15 year ( fixed )         3.125%        APR  3.159%
15 year (fixed)         2.625%       APR 2.702%	30 year ( fixed )         4.000%        APR  4.019%
30 year (fixed)         3.500%       APR 3.544% 7/1 ARM                     2.625%       APR 5.216%	5/1 ARM                        2.500%        APR  5.610% 7/1 ARM                        2.875%        APR  5.422%
5/1 ARM                     2.375%       APR 5.520%	10/1 ARM                     3.250%        APR  5.104%
FHA/VA         call for quote (max loan $270,000)

  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!

Jennifer Hernandez & Team

Kenny, Sandra, Nancy, Jimmy, Heath, Norma, Jason, Stella & Monique

Patriot Bank Mortgage

NMLS# 514497

Office:          713-337-8400

E-mail:   jennifer@patriotbankusa.com

Website: www.applywithpatriot.com    

Interest Rate Update 04/09/13

No funny stories this week. Other than Pablo, the toddler, telling me that ‘2 minutes and that’s it!’ at bedtime as the time for me to sit by the bed before I say nite nite and close the door. Yes! Victory! I used to have to sit with him for 45 minutes until he snoozed. It probably was that it made (me!) feel better..not that he needed it. Anyway! I finally got smart, and just got up and walked out the door.  He is surviving! And sleeping like a baby.

In summary, the Employment data was weaker than expected, Japan expanded its bond-buying program, and tensions with North Korea increased. As a result, mortgage rates ended the week slightly lower. J

Friday's Employment report was disappointing in nearly every area. Against a consensus forecast of 190K, the economy added just 88K jobs in March. Average Hourly Earnings, a proxy for wage growth, was flat from last month. Digging deeper, the small bit of good news was that the data from the prior two months was revised higher by 61K jobs. This was far outweighed, however, by the bad news in the details of the Unemployment Rate. The Unemployment Rate unexpectedly dropped from 7.7% to 7.6%, but the decline was entirely due to people exiting the labor force. It is good for the economy if the Unemployment Rate declines because more people get jobs, but not if the cause is a shrinking labor force. Weak labor market data reduces future inflation expectations, which is good for mortgage rates. In addition, it likely extends the duration of the Fed's bond-buying program, which is also good for mortgage rates.

Thursday, the Bank of Japan announced that it will sharply ramp up its bond purchases to levels which will add $1.4 trillion to its balance sheet over the next two years. Like the Fed, the BOJ is buying bonds to help boost the economy. This added demand for Japanese bonds caused their yields to decline, making US bonds relatively more attractive to global investors. This benefited US mortgage-backed securities (MBS), which helped push mortgage rates lower.

Enjoy this beautiful weekend!!!!! As always, we are here to pre approve your clients THOROUGHLY and QUICKLY, so you can be under contract soon!

RATES as of April 5^th , 2013 (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)         2.375%       APR 2.486 %	15 year ( fixed )         3.000%        APR  3.033%
15 year (fixed)         2.625%       APR 2.702%	30 year ( fixed )         4.000%        APR  4.019%
30 year (fixed)         3.625%       APR 3.669% 7/1 ARM                     2.375%       APR 4.801%	5/1 ARM                       2.500%        APR  5.610% 7/1 ARM                       2.875%        APR  5.422%
5/1 ARM                     2.500%       APR 5.636%	10/1 ARM                    3.125%        APR  4.989%
FHA/VA         call for quote (max loan $270,000)

  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!

Jennifer Hernandez & Team

Kenny, Sandra, Nancy, Jimmy, Heath, Norma, Jason, Stella & Monique