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Friday, June 26, 2009

Mortgage Rates Fall

Pay off your house quickly. Mortgage rates have dropped after a few weeks of rising rates. We now offer a 15 year mortgage at 4.75% or a 10 year at 4.5% Pay off your mortgage fast. There is no faster way to build equity than to have a short mortgage term. Compared to a 30 year traditional loan you will save more than $100,000 in interest over the life of the loan. Call today to apply. 414-416-9194

aprs 4.79%, 4.59%

Tuesday, June 23, 2009

May Home Sales Increase

May home sales rose for the second consecutive month, according to the National Association of Realtors. Existing home sales rose 2.4% in May after an increase in April. This was the first back to back monthly increase in four years.

Monday, June 22, 2009

Summer Solstice

The Summer Solstice was here. We hope you enjoyed it. Summerfest kicks off Thursday and includes fireworks on the lakefront Thursday at 9:30 p.m.

In the mortgage world buyers are snapping up foreclosures and although there has been an uptick in rates they are still at historic lows. Exsiting home sales will be announced by the National Association of Realtors Tuesday. May numbers will be released. April was up 2.9% so we will see how May compares. Spring and Summer are the busiest selling seasons in this climate. We have seen a huge increase in purchase applications and closings recently.

Thursday, June 11, 2009

The Economy Is Improving

A new jobs report shows fewer people applied for unemployment benefits and in a separate report retail sales increased in May, part of it due to higher gasoline costs.

Auto sales actually increased .05% last month. These reports drive mortgage rates higher, but are good news for people caught in the economic downturn.

Home sales in Milwaukee County increased 1.9% in May, according to MLS, the second straight month sales in the county increased.

Wednesday, June 10, 2009

Mortgage News You Can Use

Mortgage rates are tied to the trading of mortgage backed securities or MBS which are pools of mortgages. However, since May 21st the 10 year bond yield has shot up from about 3.3% to 3.9% and 30 year fixed mortgage rates rose similarly during this same time period. Today is an auction of 10 year Treasury notes. Demand, if weak will cause mortgage rates to rise again today. Last Wednesday a 30 year mortgage was available at 5.0% for credit worthy borrowers. Today the rate is almost a full point higher. Always consult a trusted mortgage advisor when purchasing or refinancing a home.

Monday, June 8, 2009

Area Home Sales

New iPhone June 19th

A new iPhone debuts June 19th. Apple also announced dropping the price to $99 on their least expensive current offering. Will you buy the new iPhone?

Friday, June 5, 2009

Free Reports

Email us for a free report: 8 Credit Scoring Tips For Borrowers. This special report will save you thousands of dollars in interest in your lifetime

30 Year Fixed Mortgage Rates Are Up

30 year fixed mortgage rates shot up again in the last 48 hours. For deals not locked new customers can expect to be in the 5.5% range now. Our advice as always is to get your application in now and work with a professional who can advise you when to lock to save yourself thousands of dollars in interest over the term of your loan.