Alpharetta Cumming Lake Lanier Real Estate Blog

March 15th, 2011
Mortgage markets improved last week in a week of few economic releases. The one major data point - Retail Sales - showed stronger-than-expected, but markets reacted mildly. The report's strength was whispered in advance of the actual release; its reading validated Wall Street's growing faith in the U.S. economy.

Most action last week revolved around the Middle East:
• Libya's internal turmoil continued
• Bahrain clashes intensified
• Saudi Arabia's citizens planned a Day of Rage
In response to these events, Wall Street continued its flight-to-quality. Mortgage-backed bonds are now at their best levels since early-February. Mortgage rates have improved 4 straight weeks.

Unfortunately for rate shoppers, the gains have been meager. Conforming mortgage rates have only dropped slightly.

This week, however, the market could move in either direction.

The biggest news on tap is the Federal Open Market Committee's 1-day meeting, scheduled for Tuesday. The Fed is expected to leave the Fed Funds Rate near 0.000 percent, but that doesn't mean that mortgage rates won't change. The FOMC's post-meeting press release will be closely scrutinized on Wall Street. Any changes in theme, tone, or message will cause mortgage rates to dart.

This week also marks the return of housing data with Housing Starts, Building Permits, and Homebuilder Confidence due for release. Housing is believed to be key to the economic recovery so strength in these reports should lead mortgage rates higher.

In addition, several inflation-related data sets will be released including Consumer Price Index and Producer Price Index. Inflation is generally bad for mortgage rates and with gas prices rising to a multi-year high, pressure will be on for mortgage rates to rise.

Lastly, there's Japan.

The nation's earthquake, tsunami, and (now) looming nuclear threat will have implications on the global bond market. Mortgage rates may benefit while the crisis remains unresolved.

If you've floated a mortgage rate over the past few weeks, it may be time to lock that rate down. Economic factors should be pushing rates higher, but geopolitics and natural disasters are keeping them low.

It's a perfect time to commit to a loan. Please call our preferred mortgage lender today if you have any questions.

CURRENT RATES (PURCHASE TRANSACTIONS)
Conforming Loans: Loan amounts $417,000 & under*
30-yr Fixed = 4.75 %
15-yr Fixed = 4.00 %
Conforming ARMS*
Conforming 5/1 = 3.375%
Conforming 7/1 = 3.875%
Jumbo Loans:Loan amounts over $417,000*
5/1 ARM = 3.875%
7/1 ARM = 4.25%
10/1 ARM = 4.875%
30-year Fixed JUMBO = 5.50%
FHA Loans:*
30-yr Fixed = 4.50%
5/1 ARM = 3.875 %

Call Phil Now For More Details!
*Based on pricing as of Monday, March 14th, 2010 at 12:00PM.
Prices, guidelines, and programs subject to change without notice. Subject to errors and omissions.
This information is not intended to constitute an advertisement for purposes of the Truth-in-Lending Act or Regulation "Z". It is intended solely for use by Real Estate professionals.
Residential Mortgage Licensee: GA Licensee # 22745, Florida Licensee # CL0800186,
North Carolina Licensee # B-147025, Covenant NMLS # 144774


For More Information Call or Email
Phil Blankstein
Mortgage Planner
Cell 678-938-7111
phil.blankstein@mycovenantmortgage.com
NMLS # 251790, GA License# 26422

Labels: cumming homes for sale, current mortgage rates, homes for sale in alpharetta

Labels: homes for sale in alpharetta, homes for sale in cumming, homes prices increasing

We have finally settled on a name for our new non profit organization. It will be New Hope In Africa. You will be hearing much more about this in the near future as we set up our Face Book and Twitter fan pages as well as our new websites.
Our goal for this organization is to drill wells to provide safe clean drinking water for those less fortunate than us. We have a partner on the ground in Africa that will oversee the work that we will be having done there.

It is amazing to me that for a mere $6000 we can change the lives of an entire village of 600 to 900 people. Tune in later to see what we at Vanderhoff Real Estate are doing to change the world and call us now if you want to know how you can help us change the world or if you just want us to help you change your world by selling or helping you find a new home. We are here to serve.

Labels: africa, clean water, homes for sale in alpharetta, homes for sale in cumming, mozambique

Thought For The Weekend
"May home be the place from which you launch your dreams"
~ Mary Anne Radmacher


CURRENT RATES (PURCHASE TRANSACTIONS)

Conforming Loans: Loan amounts $417,000 & under*
30-yr Fixed = 4.875% Purchase Only
15-yr Fixed = 4.25% Purchase Only

NEW! Conforming 5/1: 3.50% amortized; 3.75% interest only
Conforming 7/1: 4.00% amortized
**HOT PRODUCT Conforming 10/1: 4.50% amortized!!!**

Consult your Covenant Mortgage Professional for Refinance Quotes

Jumbo Loans: Loan amounts over $417,000*
5/1 ARM = 4.50%
7/1 ARM =4.875%
Hottest JUMBO Loan...90% No PMI up to $500,000!
Call Me Now For More Details!

FHA Loans: *
30-yr Fixed Range= 4.875% - 5.25%
NEW! FHA 5/1 ARM: 3.875% Qualify at Start Rate

*Based on pricing as of Friday, May 14th, 2010 at 12:00PM. Prices, guidelines, and programs subject to change without notice. Subject to errors and omissions. This information is not intended to constitute an advertisement for purposes of the Truth-in-Lending Act or Regulation "Z". It is intended solely for use by Real Estate professionals.
Residential Mortgage Licensee: GA Licensee #22745, Florida Residential Mortgage Licensee#CL0800186, NorthCarolina Licensee #B-147025 Covenant NMLS# 144774

Call Mike and Melody to help you sell your current home or help you find the perfect dream house.

Labels: homes for sale in alpharetta, homes for sale in cumming, homes prices increasing

By Alex Veiga

LOS ANGELES - Home prices rose in nearly 60 percent of U.S. cities in the first quarter of this year, as the housing market started to stabilize thanks to billions of dollars in federal spending.
The median sales price for previously occupied homes rose in 91 out of 152 metropolitan areas tracked in the January-March quarter versus a year ago, the National Association of Realtors said Tuesday.
There were double-digit price increases in 29 cities - a sharp improvement from the fourth quarter of last year, when prices rose in about 40 percent of cities.
The tax credits - $8,000 for new buyers and $6,500 for current owners - helped gin up home sales this spring as many buyers raced to purchase a home in time to qualify before the incentives expired at the end of April.
Sales of previously occupied homes surged in March after a three-month decline caused in part by harsh winter weather.
In all, about 2.2 million households had used the first-time buyer credit as of late March at a cost of $16 billion, according to the Internal Revenue Service.
Click here to read full article on housing projections

Labels: Home Prices Stablilze, homes for sale in alpharetta, homes for sale in cumming

CURRENT RATES (PURCHASE TRANSACTIONS)

Conforming Loans: Loan amounts $417,000 & under*
30-yr Fixed = 4.875% Purchase Only
15-yr Fixed = 4.25% Purchase Only

NEW! Conforming 5/1: 3.50% amortized; 3.75% interest only
Conforming 7/1: 4.00% amortized
**HOT PRODUCT Conforming 10/1: 4.50% amortized!!!**

Consult your Covenant Mortgage Professional for Refinance Quotes

Jumbo Loans: Loan amounts over $417,000*
5/1 ARM = 4.50%
7/1 ARM =4.875%
Hottest JUMBO Loan...90% No PMI up to $500,000!
Call Me Now For More Details!

FHA Loans: *
30-yr Fixed Range= 4.875% - 5.25%
NEW! FHA 5/1 ARM: 3.875% Qualify at Start Rate

*Based on pricing as of Friday, May 7th, 2010 at 12:00PM. Prices, guidelines, and programs subject to change without notice. Subject to errors and omissions. This information is not intended to constitute an advertisement for purposes of the Truth-in-Lending Act or Regulation "Z". It is intended solely for use by Real Estate professionals.
Residential Mortgage Licensee: GA Licensee #22745, Florida Residential Mortgage Licensee#CL0800186, NorthCarolina Licensee #B-147025 Covenant NMLS# 144774,


Call Mike and Melody to help you find the perfect home.

Labels: current mortgage rates, homes for sale in alpharetta, homes for sale in cumming

CURRENT RATES (PURCHASE TRANSACTIONS)

Conforming Loans: Loan amounts $417,000 & under*
30-yr Fixed = 4.875% Purchase Only
15-yr Fixed = 4.00% Purchase Only

NEW! Conforming 5/1: 3.50% amortized; 3.75% interest only
Conforming 7/1: 4.00% amortized
**HOT PRODUCT Conforming 10/1: 4.50% amortized!!!**

Consult your Covenant Mortgage Professional for Refinance Quotes

Jumbo Loans: Loan amounts over $417,000*
5/1 ARM = 4.50%
7/1 ARM =4.875%
Hottest JUMBO Loan...90% No PMI up to $500,000!
Call Me Now For More Details!

FHA Loans: *
30-yr Fixed Range= 4.875% - 5.25%
NEW! FHA 5/1 ARM: 3.875% Qualify at Start Rate

*Based on pricing as of Friday, April 30th, 2010 at 12:00PM. Prices, guidelines, and programs subject to change without notice. Subject to errors and omissions. This information is not intended to constitute an advertisement for purposes of the Truth-in-Lending Act or Regulation "Z". It is intended solely for use by Real Estate professionals.
Residential Mortgage Licensee: GA Licensee #22745, Florida Residential Mortgage Licensee#CL0800186, NorthCarolina Licensee #B-147025
Covenant NMLS# 144774,

If your thinking about buying a new home, now is the time. Just call Mike and Melody and let them help you find the perfect place.

Labels: best realtors in town, current mortgage rates, homes for sale in alpharetta, homes for sale in cumming