Today’s ZERO Point Rates:
30 Year Fixed: 4.750% APR
Example for $100,000
Principle and Interest: $521.65
25 Year Fixed: 4.750% APR
20 Year Fixed: 4.500% APR
15 Year Fixed: 4.250% APR
Rates as of 8:00 AM EST.
Rates are subject to change without notice.
| Industry Blog |
|
T H E K I N S E Y REPORT T H O U G H T S AN INDUSTRY BLOG OF THE MORTGAGE & REAL ESTATE INDUSTRY
TUESDAY, JANUARY 12, 2010 Let's Make a Deal 2010 a New Start. If you are a buyer, get in the game. Rates are still near historic lows, but more importantly Sellers are ready to deal. Sellers are still frightened by the market for a few reasons: rates are creaping up, winter is still here and those utility bills, there are not many buyers due to a lack of confidence in the job market, and values are flat. Find a house and make a LOW offer, get in the game.
POSTED BY THOMAS KINSEY AT 10:20 PM
FRIDAY, DECEMBER 18, 2009 Snow, Credit & Joe Cantore? You know you are about to have a bad day if Joe Cantore(Field Reporter from The Weather Channel) is in your neighborhood - sorry Philly. Maybe you shouldn't have booed Stanta. He just described the impending snow storm as 'classic.' There goes the last shopping weekend for Christmas This fact may be a dimond in the rough or in the snow. In a few weeks the wiz kid economists can blame the snow storm on the east coast for the low holliday sales figures; and this snowy fact will not imped progress. The statistics I have seen are showing that the average American shopper is spending 30% less, which is good fiscal policy. Our government should gain this policy. The bad stats shows that that same American Shopper is financing 40% of the purchases on a credit card. Remember, Credit Cards are bad debt and should only be used as an alternative to carring cash. If you can't pay off all credit card debt when you get your tax return, you sould consider refinaning. Credit Card debt under the new rules carries an average interest rate of just over 8.450% and it is not tax deductable. Overall it really does appear that the economy is finally improving, so hang in there. Merry Christmas and Happy New Year!
POSTED BY THOMAS KINSEY AT 5:25 AM
FRIDAY, NOVEMBER 4, 2009 Downsizing is the new 'Dirty Word' We are starting to feel something, but what is it? Finally the tax incentive plan has been expanded and extended, but it still is just scratching to surface. Why aren't more people buying, especially with low home prices and historically (and I mean forever) low rates. The problem is that people are still worried about 'Downsizing' and losing their jobs. The consumer confidence numbers only tell part of the story, and basically mean that will someone buy 1 PS3 game or two at Best Buy. It someone has an anxiety about their job and income, they are not going to buy a home. Staying in the home they are in, or just renting is easier to deal with. It gives them more options or flexibility. For the Real Estate market to stabilize, we need some confidence in the markets and stability in Unemployment. After the fear of job loss subsides, prospective buyers will become live buyers.
POSTED BY THOMAS KINSEY AT 7:00 AM
SUNDAY, OCTOBER 25, 2009 An Extension would be Nice, but we need some Confidence Yes, it would be great if the house and senate could come together with some middle ground and agree for an extension to the home buyer tax credit. But, honestly it hasn't worked the way it was designed. It really hasn't pushed the new buyers out of the woods to get them to buy. If someone is worried about keeping a job, they are not going to buy a house. We need to get some confidence in the marketplace, and have the anxiety disappear. Buyers need to feel safe about the economy to jump in and buy. It makes more sense to keep interest rates down, encourage investment and grow the economy.
POSTED BY THOMAS KINSEY AT 7:10 PM
FRIDAY, OCTOBER 16, 2009 These New Loans are Really Performing The loan currently being originated and closed are over the top clean. The level of detail in the underwriting and let's say ridiculous pressure placed on appraisers have created really clean loans. We have gone so far from common sense it is almost laughable. Yes it is true that 'things' needed to get better, but there is 10% of the loans that are getting turned down who don't deserve it. The industry is hurting a lot of people, and souring the entire experience. At Home Team, we preach "Bad things happen to Good people," however, as an industry we have forgotten that simple fact. Hopefully, it will be out sooner than later that everyone finds out these loans are really 'performing' and then maybe things will start to balance.
POSTED BY THOMAS KINSEY AT 8:30 AM
D I S C L A I M E R Terms of use : Readers should know that they are reading this blog, of their own free will and that they are taking the information the author provides at their own risk.
|