Alicia Hodenfield Interest Rate Update
September 28th, 2007 . by Mike KellyOne of the Fed’s biggest concerns is inflation. Today we have word that the Core Personal Consumption Expenditure (PCE)* index came in at .01% for August and the year over year Core rate (this is closely watched by the Fed to see where inflation is heading) came in at 1.8% which is within the Fed’s comfort range of 1% and 2%. Good news as bonds, which help to determine mortgage interest rates, don’t like inflation. We will continue to watch the value of the dollar though, as it is loosing ground and a lower dollar means higher prices for imports, which can lead to inflation. Interest Rates follow:
* PCE Index- measures price changes in consumer goods and services, minus food and energy costs
Now is a great time to purchase a home or investment property! With so much to choose from, and rates still low! Ask me how to finance your deals!
Today’s rates quoted are a small sample of current rates. Give me a call for more information about different rates, loan products and requirements! (707) 284-2718
Conforming fully amortized interest only
30 year fixed 6.25% 6.50%
3/1 ARM 6.125% 6.25%
5/1 ARM 6.125% 6.25%
7/1 ARM 6.375% 6.50%
10/1 ARM 6.625% 6.75%
Jumbo Fully amortized interest only Pay 1 point (fully amortized)
30 year fixed 7.375% 7.50% 6.875%
3/1 ARM 7.125% 7.25% 6.625%
5/1 ARM 6.875% 6.875% 6.375%
7/1 ARM 7.125% 7.125% 6.875%
10/1 ARM 7.25% 7.25% 6.75%
Flexible Hybrid ARMS, Option ARMS and 100% financing products are available! Give me a call for details and options!
Here’s the fine print: Conforming limit is $417,000.00. Rates assume impound account set up and assumes loan to value (LTV) no more than 80%. Funds to be used for purchase. Cash out refinances may incur higher rates. Rates quoted with a 30 day lock. Subject to qualifying borrowers and properties. Rates quoted for fully documented loans. Rates are as of 9/28/07 and are subject to change. Unless indicated, 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
(707) 284-2718 direct line
Licensed by California DRE #01104067/Salesperson License #01501465
“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.
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When going to buy or sell a home, your first step should be finding a honest and hard-working Realtor.
When going to buy or sell a home, your first step should be finding an honest and hard-working realtor. You can find a real estate agent by keeping an eye out for advertisements, calling your local real estate broker, or through the internet.
The role of a real estate agent is to represent your best interests in a real estate transaction. They work off of a commission or contingent fee, based on the sales price of the home. In most cases, that commission is split equally between the realtor representing the buyer and the realtor representing the seller. For a person buying a home, the service of the real estate agent is free, because commission is paid by the seller. The buyer, however, is responsible for closing costs relating to escrow,title,lender fees. The closing costs will be explained to you by your realtor and will be on the documents you sign when you go to the title company. Closing costs can also be negotiated on during the contract process.
The real estate agent, through their broker, has access to all of the MLS (Multiple Listing Service) listed homes in your area of interest. If you are a home buyer, the realtor can provide you with information about homes for sale that meet your criteria. They will then bring you to these homes and let you inside to see them. A realtor can act as a buffer when it comes to dealing with the other party in the sale, getting together the contract, and submitting all the documents to the escrow company. So when you are ready to buy or sell a house, contact a local Realtor.