Mike’s Real Estate Show

The March Jobs Report came in today and exceeded expectations!  This has had a negative impact on the bond market, and rates have risen.  The bond market closed early today for Good Friday.  We’ll be watching the Fed’s reaction to this news as well as the Hourly Earnings report which matched estimates, but wages are about 4% higher than about a year ago which may provide concern about wage-based inflation. The Fed’s primary concern is keeping inflation in check.  Reports providing any indication that inflation could be a concern will impact the Fed’s decision to keep the rate they charge banks for overnight loans where it is or possibly increase this rate.
Conforming                 fully amortized                        interest only
30 year fixed               6.25 %                                     6.375%
3/1 ARM                     6.25%                                      6.50%
5/1 ARM                     6.25%                                      6.50%
7/1 ARM                     6.25%                                      6.625%
10/1 ARM                   6.375%                                    6.625%
                                    fully amortized                        interest only
JUMBO – up to $650,000; add .25 point for loans up to $1mil
30 year fixed               6.5%                                        6.625%
3/1 ARM                     6.375%                                    6.375%
5/1 ARM                     6.375%                                    6.375%
7/1 ARM                     6.50%                                      6.50%
10/1 ARM                   6.625%                                    6.625%
100% financing:          Mortgage Insurance may also be an option – here are some possibilities without MI.
30 year fixed – 80/20  - Conforming loan amount on the first           6.50% 1^st / 10% 2^nd – assumes 680 credit score and full document loan for 2^nd pricing – better score, better pricing on the 2^nd; lower score worse pricing
30 year fixed – 75/25 – Conforming loan amount on the first           6.375% 1^st / 10% 2^nd – assumes 680 credit score and full document loan for 2^nd pricing – better score, better pricing on the 2^nd; lower score worse pricing
Call for information on Blended rate 100% options with No MI.
Here’s the fine print:
Conforming limit is $417,000.00.  Rates assume impound account set up and except for 100% financing, assumes loan to value (LTV) no more than 80%.  Funds to be used for purchase.  Cash out refinances may incur higher rates.  Rats quoted with a 30 day lock.  Subject to qualifying borrowers and properties.  Rates quoted for fully documented loans.  Rates are as of 4/6/07 and are subject to change.  Rates are quoted WITHOUT points.  Borrowers may buy down the rate.  Each application is evaluated on an individual basis.  There may be better suited programs for borrowers the may offer better rates/terms as well as options for non-qualifying borrowers. 

Alicia Hodenfield
Investors Trust Mortgage
Direct line (707) 284-2718
Cell (707) 483-6299
Fax (707) 573-8109

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“We must learn to live together as brothers or perish as fools.” — Martin Luther King, Jr.  
Oh by the way, if you know of someone thinking of purchasing or refinancing a home, who would appreciate the kind of service I offer, I’d love to help them.  As these people come to mind, just give me a call with their name and number.  I will be happy to follow up and tend to their real estate financing needs