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Scottsdale Arizona Mortgage Rates November 21 2008
Scottsdale Arizona Mortgage Rates for November 21, 2008
Quick Mortgage News Update
Freddie Mac & Fannie Mae temporarily halted foreclosure sales and evictions. Fannie Mae, issued Lender Letter 04-08 announcing that they are “halting all foreclosure sales on occupied single-family properties that are scheduled to occur from November 26, 2008 through January 9, 2009. This temporary halt also applies to eviction lockouts of occupied single-family properties.”
Fannie & Freddie are working with FHFA, to implement their streamlined loan modification program by December 15, 2008.
Gilbert Arizona Mortgage Rates For November 4 2008
Gilbert Arizona Mortgage Rates For November 4 2008
Don’t forget to get out and VOTE!
Phoenix Arizona Mortgage Rates October 15, 2008
Arizona Mortgage Rates for October 15, 2008
Rates have moved up significantly in the last week.
As we have mentioned before, trying to predict interest rates is tricky and we prefer not to try to be “rate predictors”. The only advice that we can give during this period of uncertainty in the markets is that if you are currently in the process of applying for a mortgage loan, lock as quickly as you can in the process.
After all — when talking about interest rates, one of three things can happen:
They can go up, they can go down or they can stay the same.
Chandler Mortgage Rates For October 10 2008
With so many things happening in the market this week, we are recommending that you lock your rate as soon as possible if you are currently in the application process.
When emotion drives a market like it is now, it is better to be safe than sorry.
Some of the market moving highlights of the week include:
The Treasury may soon be buying ownership stakes in banks
The Fed starts buying (an unlimited amount of) commercial paper
The Treasury is said to be preparing term sheets to inject capital directly into individual banks.
Hopefully next week our crystal ball looks a little clearer, but we are not counting on it!
Chandler Arizona Mortgage Rates for October 7, 2008
After getting some excellent advice from one of the best social-media consultants in the business… we are happy to be bringing you Arizona Mortgage Rates on a more regular basis to our blog.
Remember, although the financial markets have been very volatile in recent weeks, the basics of the real estate market have not changed all that much:
There are still more houses for sale in Maricopa county than there are buyers for those houses
And
Buyers who have good credit, enough money for a down payment and verifiable income are still able to get mortgages.
So although watching the evening news may make you think that the financial markets have made it impossible to get a mortgage due to the recent financial turmoil — the mortgage market is much the same as it was 2 months ago!
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Arizona Mortgage Newsletter
