From a Mortgage prospective this week -

This week's report from a mortgage prospective by Kenton Davidson

Will home loan rates go back down? 2011 from Mortgage prospective...

Looking ahead 2011 from Mortgage prospective here is a link with some good insights:

Branka Doych - "October Real Estate Update"

Here is a link to my "October Real Estate Update":
http://realtytimes.com/143/BrankaDoych

This Newsletter is full of interesting and useful information that I think you will enjoy whether you are a buyer, seller, homeowner, or renter.

This month's issue includes topics such as:

"What You Should Do Now If You Plan On Selling This Fall";

"How Buyers Compete in a Sellers' Market";

"Getting Ready For Your Open House";

"Fall Home Fixes";

"Sell Your Home Faster, Give Your Cabinets a New Look";

Plus a roundup of September real estate activity as well as much more advice and information.

I hope you enjoy this monthly newsletter. If you have any comments, please e-mail them to me. Or, if you would like to see a certain topic covered in future months, let me know that too!

Low Interest Rates makes NOW the best time to buy a home!

Many buyers rushed to purchase their home by April 30th, 2010 before the $8000 federal tax credit expired. Well guess what? – the even lower mortgage interest rates available make now AN EVEN BETTER TIME TO BUY! Here it is in dollars and cents:


April 29 – interest rate of 5.06% (according to freddiemac.com)
August 17 – interest rate down to 4.42%

SAVINGS WITH LOWER RATE: $154 per month savings on a 30 year fixed rate mortgage of $400,000 and $55,510.00 savings over the 30 year life of the loan!

OR

A home purchased in 2005 with a $400,000 mortgage at an average rate of 5.87% has  payments of $2,365 per month. Refinance now and reduce your monthly payment:

SAVINGS WITH LOWER RATE: $508 per month savings (payment reduced to $1857 per month).

OR keep the payments the same and shorten the length of the loan.

SAVINGS: Tens of thousands of dollars in interest to be saved over the life of the loan.

There has likely never been a better time to buy or refinance! There are lots of homes on the market, and prices and interest rates are low, low, low! Don’t wait to see if prices go down as it is likely that interest rates will inch up! ACT NOW!

How to Tell Mortgage Rates Are Rising?

What are some of the signs that mortgage rates, now at historic lows, are about to go up?

One way is to monitor two important factors in our economy, they are:

• Declining unemployment:

The unemployment rate is sitting just under 10 percent. If lots of Americans go back to work, an increase in interest rates is likely to follow.

• Rising discount rate:

The rate the Fed charges banks that borrow from it directly stands at 0.5 percent. If it rises or the spread between it and the Federal Funds rate widens, then mortgage rate increases won’t be far behind.

For artichles like these go to my monthly market update 
for a mortgage pre-approval contact: Kenton Davidson at Trident Mortgage