Last week was a week of mortgage rate volatility due to the market. There were more reposts and changes to rates than what has been seen in the recent past. The good news: the rate cuts from last year affected the current rates and so we have seen a trickle down in the long-term rates. The unique news: Fed may cut rates again by a quarter to a half percentage point which will hopefully further drive rates down over the coming months.
If you get a chance read this article on a different view of the past few rate cuts. http://money.cnn.com/2008/01/28/markets/morningbuzz/index.htm?postversion=2008012809
Keep your eye out for more information this upcoming Wednesday. Get ready for another wild week. None of the negative talk of recession changes the fact that rates are definitely better and if you need to refinance, now may be the best time. Have a great week.
Monday, January 28, 2008
Wednesday, January 9, 2008
New Year, Same Story
The talk is of recession. To be honest, I am interested to see what really shakes out in 2008 and 2009. The last recession found me too young and naive to even realize the economic impact that came about due to the recession. I was, however, fortunate enough to read an article this morning from the FDIC about a hearing of top executives who discussed the possibility of a recession. Though they believed it to be a few years off, the reasoning behind the cause for the next recession were spot on.
See http://www.fdic.gov/news/conferences/2006_Economic_Outlook/whitney.html for the full article.
So, the recession may happen earlier than they expected but they could see it coming. What does that mean for us in the mortgage and real estate business. It means we should stop thinking GREEN, as in money, and start thinking globally. In my opinion, it is important to be educated about all factors that affect any person's profession, so that when change happens (as it inevitably does)they can be ready.
With that said, let us move through 2008 with a steely resolve. Let us look toward the future with a positive perspective, knowing that our economy moves in cycles. This isn't the year to run, it is the year to BE PESISTENT, DISCIPLINED, and CONSISTENT, in our efforts to provide people with the best service imagineable, so that when the fear and negativity is gone, we are left standing ready to work even harder.
Rates have improved and the products to complete loans are still available.
See http://www.fdic.gov/news/conferences/2006_Economic_Outlook/whitney.html for the full article.
So, the recession may happen earlier than they expected but they could see it coming. What does that mean for us in the mortgage and real estate business. It means we should stop thinking GREEN, as in money, and start thinking globally. In my opinion, it is important to be educated about all factors that affect any person's profession, so that when change happens (as it inevitably does)they can be ready.
With that said, let us move through 2008 with a steely resolve. Let us look toward the future with a positive perspective, knowing that our economy moves in cycles. This isn't the year to run, it is the year to BE PESISTENT, DISCIPLINED, and CONSISTENT, in our efforts to provide people with the best service imagineable, so that when the fear and negativity is gone, we are left standing ready to work even harder.
Rates have improved and the products to complete loans are still available.
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You can find great local Scottsdale, Arizona real estate information on Localism.com Eric Murrietta is a proud member of the ActiveRain Real Estate Network, a free online community to help real estate professionals grow their business.