Phoenix Mortgage Broker – Interest Rate Update Wednesday, September 30, 2009
Given the huge double barrel shock to the equity bulls; the Chicago PM index and the ADP employment estimate, we suggest floating to start the day. Yesterday we locked all rate locks overnight in preparation for the employment report and the [...]
A new way to pay off your house
By Bob Mangold
Accelerator loans, common in Australia and the U.K. but new to the U.S., use special accounts that encourage paying off your mortgage in 1/3 the time of a traditional 30 year loan
A different type of home loan, called a mortgage accelerator, has migrated to the United [...]
Phoenix Mortgage Broker – Daily Interest Rate Update Tuesday September 29, 2009
I have held rate locks into this morning to confirm that the 10 yr had held its technical resistance, but warned not to hold locked loans taken yesterday on the re-price improvements. We will float again to start the session but will likely [...]
Can I Raise My Credit Score? Part II
This is the second part of my blog from about 10 days ago on improving your credit score;
Piggyback on someone else’s good credit
The fastest way to establish a credit history can be to “borrow” another’s record, either by being added to a credit card as an “authorized” [...]
Phoenix Mortgage Broker Daily Update – September 28, 2009
Hold rate locks and continue floating this morning; while not much change from Friday’s closing levels, holding in the face of a strong stock market this morning. Keep focused on our rate alerts; we have nice profits from floating last week and we are not willing to [...]
Phoenix Mortgage Broker Interest Rate Update – Thursday, September 24, 2009
Apply Here for an Arizona Home Loan
I am floating rate locks again to start the day. The equity markets hold the key to break rates into new recent lows (yields). Lower stock indexes today are critical to improving mortgage rates; if we get a lower [...]
Intraday volatility in the financial markets was the most volatile in weeks. The stock market rolled over this afternoon with selling right into the close. The 10 yr held its support but is still confined in an 8 basis point range; mortgage prices rallied after selling at mid-day. Suggest holding rate locks overnight, stocks look [...]
AZ Foreclosure Info
Here is a great article from www.azcentral.com outlining some of the reasons lenders may not be foreclosing.
http://www.azcentral.com/business/realestate/articles/2009/09/05/20090905housing-foreclosures0905.html
AZ Foreclosure Notices filed are closing in on about 50,000 units. Actual foreclosures dropped by about 1,000 units from the prior month.
About 1 in 5 homes are currently being sold as “short sales” in Maricopa County. This [...]
Arizona Realtor Market Update
Here is a monthly snapshot on market and AZ foreclosure activity for Arizona Realtors and buyers:
AZ foreclosure activity continues to be very strong.
Download a graph of sales activity for the last 30 days
Southwest Valley-REO active listings represent 16% of the total listings, and 50% of the sales for the last month. [...]
Phoenix Mortgage Broker – Interest Rate Update
Monday September 21, 2009
Rate markets opened better this morning with the stock index futures trading weaker. At 8:30 the 10 yr note +12/32 3.44% -4 BP, mortgage prices +6/32 and the DJIA -57. Global stock markets were weak as many currently are re-thinking the levels to which global stocks [...]
