Alan Wilaby's Colorado Springs Real Estate Review » mortgage rates

Interest rates are 4.85% for 30 year fixed, 4.75% for 15 year fixed and V.A. is at 5.0% for 30 year fixed.

kcolgin — Tue, 31 Mar 2009 19:02:19 +0000

Last Week in Review

“IT REQUIRES A GREAT DEAL OF BOLDNESS AND A GREAT DEAL OF CAUTION TO MAKE A GREAT FORTUNE.” Ralph Waldo Emerson. And last week’s headlines contained a mix of items to inspire both boldness and caution. Here are the highlights.
Friday’s news showed that consumers are being understandably cautious with their finances, as the Personal Savings rate remained above 4% once again in February and among the highest savings levels seen in a decade. The last five years can be seen in the chart. And notice it wasn’t that long ago that the US had a negative savings rate – that’s right, as a nation, we regularly spent more than we made.
Meanwhile, the government continues to make bold moves to help our economy. On Monday, Treasury Secretary Geithner unveiled a plan to remove toxic assets from financial institutions by using money from the $700 Billion TARP fund. The government will help mitigate the risk by offering private investors Billions of dollars in low-interest loans to help finance the purchases. Indeed, it’s a bold strategy – let’s see if it pays off!
And…there’s room for cautious optimism on the economy, as good news was noted on several fronts last week. The housing market received good news when both Existing Home Sales and New Home Sales came in stronger than expected. Additionally, Durable Goods Orders for February came in better than expected, showing the first increase in six months, and the Core Personal Consumption Expenditure Index (Core PCE) showed inflation is presently at tolerable levels. Plus, the US Dollar received a boost when China said it will continue to purchase US Treasuries.
Bonds were jostled around mid-week, but home loan rates ultimately ended the week very close to where they began…near historic lows. Give me a call or email me if you want to discuss whether now may be the perfect time for you to add a bit to your own fortune through a smart purchase or refi.

If you have any questions regarding mortgages, please call me! Your trusted Colorado Springs Real Estate Agent

Today’s Colorado Springs Home Mortgage Rates & Financial News Here are some home mortgage rates available today in the...
Jobs: Finally a Little Less Doom ADP says there were 31% fewer private sector job...
Forbes Magazine Lists Colorado Springs as #10 in Best Places for Businesses and Careers The following article shows one of the many reasons...

Mortgage Applications Rise Over 20%

Alan — Thu, 19 Mar 2009 14:01:05 +0000

With rates at a low, wise buyers and home owners are both seeking to either snap up some outstanding deals or simply refinance and increase their effective income.

“Raw mortgage application volume rose 21.2 percent for the week ending March 13, according to a survey published Wednesday by the Mortgage Bankers Association. It was the second consecutive week of increased raw activity, while refinancing applications continued to rise, surging 29.6 percent over the previous week. Purchase application activity also rose slightly, coming in 1.5 percent higher than last week, when it had posted a 7 percent increase. …

… rates eased across the board in the week, with 30-year fixed rates down to 4.89 percent from 4.96 percent a week earlier. Meanwhile, 15-year fixed rates slipped down slightly to 4.52 percent from 4.54 percent the week before, and one-year adjustable-rate mortgages averaged a 6.2 percent interest rate, down slightly from 6.21 a week earlier.”

Click here to read the entire article regarding last weeks average mortgage rates and activity.

Today’s Colorado Springs Home Mortgage Rates & Financial News Here are some home mortgage rates available today in the...
Springs Ranks 41st Among nation’s biggest 100 cities Colorado Springs’ economic performance amid the recession ranks No. 41...
Crime Rate in Colorado Springs Colorado Springs is a relatively safe place to live. In...

Today’s Colorado Springs Home Mortgage Rates & Financial News

kcolgin — Mon, 16 Mar 2009 21:17:11 +0000

Here are some home mortgage rates available today in the Colorado Springs market. Of course they are subject to change but these are best I have seen in years. My advice …take advantage of these rates. If you need help in finding a good home lender please let me know

Conventional interest rates are @ 4.875% for a 30 year fixed

4.5% for a 15 year fixed

V.A. is @ 5%.

“I DO NOT THINK MUCH OF A MAN WHO IS NOT WISER TODAY THAN HE WAS YESTERDAY.” Abraham Lincoln.

Now more than ever, it’s important for our country’s leaders to heed yesterday’s lessons and make wise choices today for our banking system and the economy. There were several key developments that happened on this front last week – here are some highlights.

On Thursday, the Securities and Exchange Commission’s (SEC) Chief Accountant, the Financial Accounting Standards Board’s (FASB) Chairman and the Deputy Comptroller for Regulatory Policy in the Treasury Department testified in front of the House Financial Services committee on the “Mark-to-Market” accounting rule. This rule was created so that there would be more transparency in business dealings, but fell prey to the law of “unintended consequences”, and has played a major part in our current financial crisis.

During Thursday’s hearing, Congress demanded an answer for repairing this situation within the next three weeks, so right now, it looks like we will see some sort of coordinated action by both the FASB and the SEC to address the Mark-to-Market situation soon. Stocks certainly reacted positively to this news last week, as well as to Citigroup’s announcement that it will not need more TARP money from the government. Stocks also liked the remarks from Federal Reserve Chairman Bernanke that the recession would be over by year-end if the banking situation is stabilized, and that major financial institutions would not be allowed to fail.

In other news, the Retail Sales numbers for February came in better than expected and the numbers for January were revised higher. This report is very volatile from month to month, but the last couple of readings have been encouraging. However, the job market continues to struggle as the number of people receiving unemployment reached a record 5.32 Million. And there was news that China is concerned the US may be spending too aggressively on the recession, which could lead to inflation down the road that would diminish the value of Bonds and China’s investments in the US.

Overall, Bonds and home loan rates didn’t worsen last week – even with the huge Stock rally – and ended the week relatively close to where they began.

-MMG Weekly

Mortgage Applications Rise Over 20% With rates at a low, wise buyers and home owners...
Colorado Springs Real Estate- Article from Time Magazine regarding real estate and stocks Waiting to Purchase Real Estate? Sure, housing’s in a hole....
Interest rates are 4.85% for 30 year fixed, 4.75% for 15 year fixed and V.A. is at 5.0% for 30 year fixed. Last Week in Review “IT REQUIRES A GREAT...