Posts Tagged ‘Mortgage Rates’
Why Buy Now?
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Amateur vs. Professional
Expert firefighter Red Adair once said, “If you think the cost of professional is expensive, wait until you hire an amateur.” This adage has been used in many examples. However, in the mortgage industry this message is exceptionally true.
When shopping for a mortgage, there is far more to consider than interest rate. Like the price of a stock, mortgage rates can change from minute to minute. A rate quote provided at 10:00a.m. can be null and void by 10:15 a.m. This can make one lender appear to offer higher rates when in fact the difference is only a change in the market.
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Shopping for a Lender?
Thinking back on all the years we’ve been in business, we’ve had the wonderful opportunity to assist people with their mortgage needs. Whether it be the purchase of a new home or a refinance we’ve had the great opportunity to get to know a lot of wonderful people. We’ve written the following article to help you understand the importance of finding the right lender. We also want to emphasize the excitement and passion we have for the industry we work in. We’ve spent hours upon hours studying and learning how the mortgage market moves and works, so we can use that knowledge for the betterment of our clients and their unique situations. We’d encourage you to take a read and pass the article along to your friends and family. With the Scott Phippen Lending Team, we are here to serve YOU. We hope you enjoy!
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Economy on the Mend?
Over the past year it seems like all we’ve heard in the news is nothing but the status of the economy. Is it getting better or is it getting worse? We always hear conflicting comments and ideas. Recently, I read this article and thought I’d share it with you. I’ll forewarn you that it’s a lot of statistic, but if you take a minute and read through it, you’ll realize that Utah is in pretty good shape in comparison to other states. I hope you enjoy!
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What’s in Store for Mortgage Rates?
I can’t think of an easier year to predict the direction of interest rates than 2010. It is safe to say that mortgage rates will be higher this year than they were in 2009. Unfortunately for homeowners and the real estate markets, the days of a 4.5% 30 year fixed rate mortgage cannot last forever.
In November of 2008, the Federal Reserve allocated $1.25 trillion towards the purchase of Mortgage Backed Securities. As of January 15, 2010, $1.137 trillion of this budgeted amount has been spent. By March 31, 2010, the entire $1.25 trillion is scheduled to be depleted. Once the Fed steps out of the market, the likelihood of higher rates is probable. Read the rest of this entry »
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How Do Interest Rates Move?
If you’ve ever wondered how interest rates work? Take just a few minutes and watch this great video. It’s a very simplified version of how interest rates move UP and DOWN in this very volitale market. You’ll get a small taste of what we monitor each and every day. Enjoy the video!
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