Hello Bloggers, thanks for stopping by today. What is one of the biggest factors that effect Raleigh real estate and Cary real estate? Answer – Mortgage rates. I want to be sure to send out important news about refinancing or purchasing a home. The media has been speaking about rates dropping. It is very important that we share news that the Chief Executive of Freddie Mac said last Friday that home rates are near the BOTTOM! Now really is the time to buy. Here is the update for mortgage rates today, please read carefully.
MMG Update – Tuesday, March 31, 2009 10:17am ET
Current Trend Direction: Sideways
Risks favor: Floating for now
Current Price of FNMA 4.0% Bond: $100.62, +12bp
In light of the recent price improvement in Mortgage Bonds, we have now switched our focus back to the FNMA 30-year 4.0% Bond. This change is reflected on the Bond Page and text messaging.
Mortgage Bonds are trading slightly higher so far this morning, and Stocks are looking to rebound after yesterday’s sell off.
Interesting note that supports our views on the unlikelihood of rates moving much lower – last Friday, Jack Koskinen, interim chief executive of Freddie Mac, said that home loan rates are near the bottom and that any further decreases will be small. Mr. Koskinen commented on mortgage rates after he attended the meeting between President Obama and the CEO’s of the financial services companies on Capitol Hill. Perfect opportunity to get the word out to clients who are sitting on the fence waiting for that 4% rate…now is the time to purchase or refinance as rates are at historically low levels, and not likely to move much lower.
Add this news to the $8000 tax credit available for all buyers that have not owned a home in the last 3 years and you have a winning combination for immediate home equity gain, if you follow one simple rule. The rule is NEVER shop for real estate with a amateur. It’s just to big of an investment. Call or e-mail us today to get started ifinding the right home value for you.
As always, God Bless and drop by again soon. Marti