Lowest Interest Rates – Mortgage Professional Newport Beach

The Federal Reserve was so spooked by the backup in mortgage rates that it postponed tapering its bond-buying program. But what about prospective home buyers?

Data released Tuesday will shed more light on that topic, with home price gauges from S&P/Case-Shiller and the Federal Housing Finance Agency both due at 9 a.m. Eastern and both covering July. The two series have slightly different methodologies — in June, prices were up 12.1% on the Case-Shiller gauge and up 7.7% on the FHFA gauge from the same period of 2012. But prices should, at least for now, remain resilient, economists say.

At 10 a.m., the Conference Board’s consumer confidence gauge for September will be released, with economists polled by MarketWatch expecting a fall to 79.5 from 81.5.

Also on Tuesday, Cleveland Fed president Sandra Pianalto is due to speak about payments systems at a Chicago Fed conference.

Mortgage Interest Rate News – Are we still heading toward 5% mortgages?

Prospective buyers who have been shying away from the housing market due to rising rates may have reason to start shopping again.

On Wednesday, the Federal Reserve surprised market watchers when it announced that it would not start tapering its purchases of mortgage-backed securities and Treasury bonds.

Mortgage rates have risen significantly amid concerns that the Fed would cut back on its $85 billion a month bond-buying program. Rates on a 30-year fixed mortgage are currently averaging about 4.5%, up from 3.35% in early May. That rate increase has meant an extra $132 a month in payments for a homebuyer with a $200,000 30-year loan.

But now that the Fed has said it will continue to purchase the bonds, rates will likely retrace some of those gains, said Keith Gumbinger of mortgage information provider HSH.com.

“Now, we do have some space for rates to fall,” he said. “I don’t expect a plummet, just a drop of 0.1 percentage points or so over the next week or two.”

The day after the Fed’s announcement, Freddie Mac reported that rates on 30-year fixed-rate loans fell from 4.57% to 4.5% over the past week. Freddie Mac’s chief economist, Frank Nothaft, said rates were reacting to the same economic trends that influenced the Fed’s decision. Among them: slowing growth in retail sales and industrial production and the lowest reading in consumer sentiment since April. He also noted tighter financial conditions, including the sharp increase in mortgage rates in recent months.

Should the economy gain more momentum, however, fears that the Fed will taper off its bond purchases will most certainly resurface and rates will move higher again, he said.

Nothaft expects rates to hit about 5% by mid-2014. That’s an increase of less than $24 a month for every $100,000 borrowed — enough to weed out borrowers who are struggling to afford homes but not enough to impact overall demand.

Despite recent increases, rates are still low by historical standards. During the housing boom years, they typically ranged between 6% and 7%.

And higher rates should prompt some banks to ease up on their lending standards, helping more people to buy homes, said Jed Kolko, chief economist for Trulia.

“Rates will be slightly higher next year but not enough to derail the housing market recovery,” he said

Newport Beach Mortgage Professional

Bill Zigler has over 13 years of experience in the Mortgage Lending Business.

I will be there for you to answer your questions when you need me!

Please see my numerous references that will assure you of my client dealings. It’s one of the reasons I have remained in the business through this tough time. Call Bill Zigler today at 888.525.5345 to get started or send me an EMAIL

“The call for your financial future is free and my services are priceless”

Newport Beach Mortgage Specialist

Bill Zigler has over 13 years of experience in the Mortgage Lending Business.

I will be there for you to answer your questions when you need me!

Please see my numerous references that will assure you of my client dealings. It’s one of the reasons I have remained in the business through this tough time. Call Bill Zigler today at 888.525.5345 to get started or send me an EMAIL

“The call for your financial future is free and my services are priceless”

Newport Beach Mortgage Professional

Bill Zigler has over 13 years of experience in the Mortgage Lending Business.

I will be there for you to answer your questions when you need me!

Please see my numerous references that will assure you of my client dealings. It’s one of the reasons I have remained in the business through this tough time. Call Bill Zigler today at 888.525.5345 to get started or send me an EMAIL

“The call for your financial future is free and my services are priceless”

Newport Beach Mortgage Professional

Bill Zigler has over 13 years of experience in the Mortgage Lending Business.

I will be there for you to answer your questions when you need me!

Please see my numerous references that will assure you of my client dealings. It’s one of the reasons I have remained in the business through this tough time. Call Bill Zigler today at 888.525.5345 to get started or send me an EMAIL

“The call for your financial future is free and my services are priceless”

Pennsylvania VA Mortgage Planner

Consumer advocates and banks have been particularly focused on QM and QRM because the rules are expected to have a dramatic impact on lending. By making loans that meet QM and QRM standards, lenders will receive legal protection and won’t have to keep a stake in securitized loans.

There’s been concern that if QM and QRM guidelines are too strict, many creditworthy borrowers would be unable to obtain a mortgage. Indeed, the prior QRM proposal’s 20% down-payment provision was dropped in Wednesday’s plan following criticism from industry groups and consumer advocates that too many good borrowers wouldn’t be able to get a loan.

According to the Center for Responsible Lending, a Durham, N.C.-based consumer advocacy group, it would take typical family more than two decades to save enough for a 10% down payment.

“Mandating down payment standards would make the housing market and overall economy worse instead of better,” according to a recent CRL note. “If mandated down payment standards went into effect — instead of letting the market determine appropriate down payment standards — then fewer families could become first-time home buyers.”

Lowest Rates VA Streamline Loan

We have seen a recent uptick in interest rates over the past 40 days. Historically speaking, we are still in the midst of the lowest interest rates of all time. Whether you are looking for a new home purchase in Orange County, CA, or anywhere else in California, Texas, or Washington, now is the time to lock!

We are Platinum broker with the ability to lock you in, and float your rate down if the market allows! That said, if you are looking for the best customer service, and the lowest interest rate for your mortgage, call Bill Zigler today at 888.525.5345 to get started or send me an EMAIL  

“The call for your financial future is free and my services are priceless”

Newport Beach Senior Mortgage Professional Referral

Bill Zigler has over 13 years of experience in the Mortgage Lending Business.

I will be there for you to answer your questions when you need me!

Please see my numerous references that will assure you of my client dealings. It’s one of the reasons I have remained in the business through this tough time.

Call Bill Zigler today at 888.525.5345 to get started or send me an EMAIL

“The call for your financial future is free and my services are priceless”

Orange County Mortgage Planner

My job, plain and simply, is to help you save money and protect the financial future of you, and your family. My clients are extremely comfortable in working with someone with my integrity, professionalism, and ability to place people with the best product for their situation.

I have 12 years of experience in the mortgage industry and 24 years in customer service. I have seen the industry through its ebbs and flows and I know the players. I will still be here for you when others move to the next “Hot” Industry.
 
Do you want the best loan for YOU, or for your loan officer? Whether your credit’s flawless or you have a more challenging financial background, I will find the right program for you. The reality about mortgages is that there’s no one typical solution that’s best for everybody. This is why I take the time to learn about your need and goals before presenting mortgage solutions for us to discuss and review. After that, I will tailor a loan to suit your situation.
 
Why work with me? Please see my numerous references that will assure you of my client dealings. It’s one of the reasons I have remained in the business through this tough time. Call Bill Zigler today at 888.525.5345 to get started or send me an EMAIL  

“The call for your financial future is free and my services are priceless”