| Vanderhoff Real Estate's North Fulton Blog
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Monday, August 23, 2010
What's Ahead For Mortgage Rates This Week:
 August 23rd, 2010 Mortgage markets stalled last week in back-and-forth trading as Wall Street grappled with weak housing data, falling builder confidence, and worsening jobs numbers nationwide. Because markets were volatile, rate shopping was challenging. Conforming mortgage rates managed to make a new all-time low last Thursday, but quickly gave up those gains. Most of Friday afternoon was spent in the red and, as a result, for the second straight week, mortgage rates failed to fall overall. But, although last week's action puts a damper on this summer's mortgage rate rally, the Refi Boom is still going strong! According to Freddie Mac, as compared to April 8 when mortgage rates touched their recent high-point, pricing is hugely improved across 3 popular loan products. 30-year fixed : Then, 5.21%; Now, 4.42%* 15-year fixed : Then, 4.52%; Now, 3.90%* 5-year ARM : Then, 4.25%; Now, 3.56%* As an example of potential savings, a homeowner with a $250,000 30-year fixed rate mortgage would save $96 per month at today's rates as compared to April's. Over the life of a loan, that's a savings of $34,560! This week, it's unlikely that the Refi Boom will meet its end, but that doesn't mean you should wait for rates to fall further. Mortgage rates tend to change quickly and without notice, and should rates rise, you may find that you've missed the market bottom. If today's rates appeal to your finances and budget, consider locking something in and moving forward. Call our Mortgage Specialist Today! Phil Blankstein Mortgage Planner Cell 678-938-7111 phil.blankstein@mycovenantmortgage.com NMLS # 251790 Labels: alpharetta homes for sale, cumming homes for sale, current mortgage rates, refinance
Friday, September 25, 2009
Weekend Mortgage Rates
 Check out this weekend's mortgage rates provided by Covenant Mortgage Corporation: Conforming Loans: Loan amounts $417,000 & under* 30-yr Fixed = 4.875% Purchase Only 15-yr Fixed = 4.375% Purchase Only Consult your Covenant Mortgage Professional for Refinance QuotesJumbo Loans: Loan amounts over $417,000* 5/1 ARM = 4.75% 7/1 ARM =5.125% FHA Loans: * 30-yr Fixed Range= 5.00% - 5.25% *Based on pricing as of Friday, September 25th, 09 at 12:00PM. If you would like help with your next real estate transaction, please contact our team at Vanderhoff Real Estate today. We can be your bridge to success! Labels: 15 year fixed, 30 year fixed, covenant mortgage, FHA, Home, loan, real estate, refinance, vanderhoff
Saturday, September 19, 2009
Weekend Mortgage Rates
 Check out this weekend's mortgage rates provided by Covenant Mortgage Corporation: Conforming Loans: Loan amounts $417,000 & under* 30-yr Fixed = 4.875% Purchase Only 15-yr Fixed = 4.375% Purchase Only Consult your Covenant Mortgage Professional for Refinance QuotesJumbo Loans: Loan amounts over $417,000* 5/1 ARM = 4.75% 7/1 ARM =5.125% FHA Loans: * 30-yr Fixed Range= 5.00% - 5.25% *Based on pricing as of Friday, September 18th, 2009 at 12:00PM.If you would like help with your next real estate transaction, please contact our team at Vanderhoff Real Estate today. We can be your bridge to success! Labels: 15 year fixed, 30 year fixed, covenant mortgage, FHA, interest, jumbo loan, mortgage, rates, real estate, refinance, vanderhoff
Friday, September 11, 2009
Weekend Mortgage Rates
 Check out this weekend's mortgage rates provided by Covenant Mortgage Corporation: Conforming Loans: Loan amounts $417,000 & under* 30-yr Fixed = 4.875% Purchase Only 15-yr Fixed = 4.375% Purchase Only Consult your Covenant Mortgage Professional for Refinance QuotesJumbo Loans: Loan amounts over $417,000* 5/1 ARM = 4.75% 7/1 ARM =5.125% FHA Loans: * 30-yr Fixed Range= 5.00% - 5.50% *Based on pricing as of Friday, September 11th, 09 at 12:00PM.If you would like help with your next real estate transaction, please contact our team at Vanderhoff Real Estate today. We can be your bridge to success! Labels: 15 year fixed, 30 year fixed, arm, covenant mortgage, FHA, mortgage, rate, real estate, refinance, vanderhoff
Friday, August 21, 2009
Weekend Mortgage Rates
 Check out this weekend's mortgage rates provided by Covenant Mortgage Corporation: Conforming Loans: Loan amounts $417,000 & under* 30-yr Fixed = 5.125% Purchase Only 15-yr Fixed = 4.50% Purchase Only Consult your Covenant Mortgage Professional for Refinance QuotesJumbo Loans: Loan amounts over $417,000* 5/1 ARM = 5.00% 7/1 ARM =5.50% FHA Loans: * 30-yr Fixed Range= 5.25% - 5.50% *Based on pricing as of Friday, August 21st, 09 at 12:00PM.If you would like help with your next real estate transaction, please contact our team at Vanderhoff Real Estate today. We can be your bridge to success! Labels: 15 year fixed, 30 year fixed, covenant mortgage, FHA, mortgage rates, real estate, refinance, vanderhoff
Monday, June 08, 2009
Mortgage Rates Still Low, But On The Rise
Major Jump In Mortgage Rates Hasn't Hurt Home Sales-Yet
The recent surge in mortgage rates hasn't put a crimp in the housing recovery so far, but some economists think it could if rates head much higher. The 30-year fixed rate jumped to an average 5.32 percent this week, up from 4.91 percent the previous week, according to Freddie Mac. Refinancings are already down sharply due to the higher rates, but home purchases continue to recover slowly. In fact, the rise in mortgage rates in recent weeks is causing some homebuyers to jump now before rates head any higher. Labels: housing, market, mortgage rates, real estate, refinance
Saturday, June 06, 2009
Weekend Mortgage Rates
Check out this weekend's mortgage rates provided by Covenant Mortgage Corporation: Conforming Loans: Loan amounts $417,000 & under* 30-yr Fixed = 5.375% Purchase Only 15-yr Fixed = 4.875% Purchase Only Consult your Covenant Mortgage Professional for Refinance Quotes Jumbo Loans: Loan amounts over $417,000* 5/1 ARM = 5.125% 7/1 ARM =5.375% FHA Loans:* 30-yr Fixed = Range 5.25% - 5.75% *Based on pricing as of Friday, June 5th 09 at 1:00PM.If you would like help with your next real estate transaction, please contact our team at Vanderhoff Real Estate today. We can be your bridge to success! Labels: 15 year fixed, 30 year fixed, covenant mortgage, FHA, mortgage rates, real estate, refinance, vanderhoff
Saturday, May 23, 2009
Weekend Mortgage Rates
 Check out this weekend's mortgage rates provided by Covenant Mortgage Corporation: Conforming Loans: Loan amounts $417,000 & under* 30-yr Fixed = 4.75% Purchase Only 15-yr Fixed = 4.375% Purchase Only NEW! Conforming 5/1 Interest-Only: 4.375% Consult your Covenant Mortgage Professional for Refinance Quotes Jumbo Loans: Loan amounts over $417,000* 5/1 ARM = 5.000% 7/1 ARM =5.375% FHA Loans: * 30-yr Fixed = Range 5.00% - 5.50% NEW FHA 5/1 ARM starting at 3.625% Rate fixed for 5 years! *Based on pricing as of Friday, 5/22nd/09 at 1:00PM.If you would like help with your next real estate transaction, please contact our team at Vanderhoff Real Estate today. We can be your bridge to success! Labels: 15 year fixed, 30 year fixed, covenant mortgage, FHA, mortgage rates, refinance, vanderhoff real estate
Friday, May 15, 2009
Weekend Mortgage Rates
 Check out this weekend's mortgage rates provided by Covenant Mortgage Corporation: Conforming Loans: Loan amounts $417,000 & under* 30-yr Fixed = 4.625% Purchase Only 15-yr Fixed = 4.375% Purchase Only NEW! Conforming 5/1 Interest-Only: 4.50% Consult your Covenant Mortgage Professional for Refinance Quotes Jumbo Loans: Loan amounts over $417,000* 5/1 ARM = 5.000% 7/1 ARM =5.375% FHA Loans: * 30-yr Fixed = Range 4.875% - 5.50% *Based on pricing as of Friday, 5/8/09 at 1:00PM.If you would like help with your next real estate transaction, please contact our team at Vanderhoff Real Estate today. We can be your bridge to success! Labels: 15 year fixed, 30 year fixed, covenant mortgage, FHA, mortgage rates, real estate, refinance, vanderhoff real estate
Saturday, May 09, 2009
Weekend Mortgage Rates
 Check out this weekend's mortgage rates provided by Covenant Mortgage Corporation: Conforming Loans: Loan amounts $417,000 & under* 30-yr Fixed = 4.75% Purchase Only 15-yr Fixed = 4.375% Purchase Only NEW! Conforming 5/1 Interest-Only: 4.50% Consult your Covenant Mortgage Professional for Refinance Quotes Jumbo Loans: Loan amounts over $417,000* 5/1 ARM = 5.125% 7/1 ARM =5.375% FHA Loans: 30-yr Fixed = Range 4.875% - 5.50% *Based on pricing as of Friday, 5/8/09 at 1:00PM. If you would like help with your next real estate transaction, please contact our team at Vanderhoff Real Estate today. We can be your bridge to success! Labels: 15 year fixed, 30 year fixed, covenant mortgage, FHA, mortgage rates, real estate, refinance, vanderhoff real estate
Sunday, April 05, 2009
Weekend Mortgage Rates
 Check out this weekend's mortgage rates provided by Covenant Mortgage Corporation: Conforming Loans: Loan amounts $417,000 & under* 30-yr Fixed = 4.75% Purchase Only 15-yr Fixed = 4.375% Purchase Only Consult your Covenant Mortgage Professional for Refinance Quotes Jumbo Loans: Loan amounts over $417,000* 15-yr Fixed = 5.75% 5/1 ARM = 4.75% 7/1 ARM =5.00% FHA Loans: 30-yr Fixed = Range 4.875% - 5.50%
*Based on pricing as of Friday, 4/03/09 at 1:00PM.If you would like help with your next real estate transaction, please contact our team at Vanderhoff Real Estate today. We can be your bridge to success! Labels: 15 year fixed, 30 year fixed, covenant mortgage, FHA, mortgage rates, refinance, vanderhoff real estate
Saturday, March 28, 2009
Weekend Mortgage Rates
 Check out this weekend's mortgage rates provided by Covenant Mortgage Corporation: Conforming Loans: Loan amounts $417,000 & under* 30-yr Fixed = 4.625% Purchase Only 15-yr Fixed = 4.375% Purchase Only Consult your Covenant Mortgage Professional for Refinance Quotes Jumbo Loans: Loan amounts over $417,000* 15-yr Fixed = 5.75% 5/1 ARM = 5.125% 7/1 ARM =5.375% FHA Loans: 30-yr Fixed = Range 4.875% - 5.50%
*Based on pricing as of Friday, 3/27/09 at 1:00PM. If you would like help with your next real estate transaction, please contact our team at Vanderhoff Real Estate today. We can be your bridge to success! Labels: 15 year fixed, 30 year fixed, covenant mortgage, FHA, interest rates, mortgage rates, refinance, vanderhoff real estate
Saturday, March 21, 2009
Weekend Mortgage Rates
 Check out this weekend's mortgage rates provided by Covenant Mortgage Corporation: Conforming Loans: Loan amounts $417,000 & under* 30-yr Fixed = 4.75% Purchase Only 15-yr Fixed = 4.50% Purchase Only Consult your Covenant Mortgage Professional for Refinance QuotesJumbo Loans: Loan amounts over $417,000* 15-yr Fixed = 5.75% 5/1 ARM = 5.125% 7/1 ARM =5.375% FHA Loans: 30-yr Fixed = Range 5.00% - 5.50% *Based on pricing as of Friday, 3/20/09 at 1:00PM.If you would like help with your next real estate transaction, please contact our team at Vanderhoff Real Estate today. We can be your bridge to success! Labels: 15 year fixed, 30 year fixed, covenant mortgage, FHA, mortgage rates, refinance, vanderhoff real estate
Wednesday, March 18, 2009
The "Making Home Affordable" Program
President Barack Obama's new mortgage relief plan aims to help up to 9 million borrowers qualify for more affordable mortgages and stay in their homes. Obama's "Making Home Affordable" program is designed to work with lenders to modify the loan terms for up to 4 million homeowners and to refinance up to 5 million homeowners into more affordable fixed-rate loans. The Question is: Do you qualify for the refinancing plan?
- Only homeowners in good standing whose loans are held by Fannie Mae or Freddie Mac qualify.
- The property must be owner-occupied and the borrower must have enough income to qualify for the new mortgage debt.
- Borrower's can't owe more than 105% of their home's current value on their first mortgage.
- Borrowers with a second mortgage still can qualify as long as their first mortgage isn't more than 105% of their home's value.
- Homeowners can't take cash out during the refinancing to pay other debt.
- Borrowers have until June 2010 to apply for the program.
Above information provided by Covenant Mortgage Corporation. If you have questions about your existing or future mortage, please contact Covenant Mortgage. For assistance with selling or buying a home, contact our team at Vanderhoff Real Estate today. Labels: covenant mortgage, making home affordable, mortgage, obama, president, program, refinance, vanderhoff real estate
Friday, February 13, 2009
New Refi Plus Program Launches in April
Fannie Mae, which controls nearly half of the mortgages in the country, will launch a new program in April to help those who are self-employed or have bad credit take advantage of the refinance craze. The "Refi Plus Program" will waive the normal credit score requirement for a refinance; it will have reduced documentation standards for proof of income; and it will allow for computer-based appraisals, which tend to inflate the value of a home and make it easier to qualify for a refinance. More people stand to be affected by these upcoming changes than the entire number of people who have already gotten their refis! However, Refi Plus will ultimately lead to higher defaults and more foreclosures; it is, after all, a lessening of standards. But apparently the "experts" aren't overly concerned. They're holding out for the hope that the program will actually allow people who couldn't make their mortgage every month to do so. Labels: fannie mae, mortgage, program, refi plus, refinance
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