Always on the lookout for great information to share!!!
Last Time, I spoke of moving forward on your home purchase while
rates are historically low though some financial indicators are down.
Jim Belote of Union Mortgage echoed my thoughts in his August 23rd Recap
quoting a favorite author, Charles Dickest from "A Tale of Two Cities":
"It was the best of times, it was the worst of time"
further quoting Dickens further in saying
"it was the spring of hope and the winter of despair".
Jim notes the ease of seeing the worst of time with home builders
confidence low at 13 when a score of 50 indicates confidence. And
the challenge of seeing the good in housing start rebound to a 1.7%
increase in July...will August increase also???
What about those great interest rates of 4.5% or lower???? Again Jim
points out the conflict between the great rates and the federal programs
to aid home buyers and sellers versus buyer "perception" that Fannie
Mae's and Freddie Mac's lending standards will keep them from getting a
loan.
Implication: Buyers and homeowners could be saving lots of money on
a mortgage/new home if they willing to talk with a great mortgage
officer to start the process.
Once the word gets out that those in the game are the real winners...
there will be few that sit on the sidelines.
How will you feel if you see the game slip you by???
Especially if you have a great job and have money to invest in
distressed mortgages or distressed home sellers? Yes, this is a
bright spot though only $25 Billion of delinquent loans where sold in
the past 2 year(only .25% of all outstanding home loans). This may
increase as such investors help clear off the delinquent loans quicker
than the banks and federal govt.
Another game that could be right for you!!! Are you in??
Thanks Jim for the great input!!!
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