Friday November 21, 2008

 

Chandler Mortgage Rates For October 10 2008

Posted by Tammy McHood on October 10th, 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

AIG has tapped $70 of the 85 Billion bailout so far with another 40 Billion (or so) approved from the NY Fed to keep operations going

The Fed starts buying (an unlimited amount of) commercial paper

One year after hitting it’s all-time high, the DJIA has huge daily swings and ends on Thursday at its lowest point since 2003.

The Fed cut the overnight lending rate for banks by 1/2 point to 1.5% (note: NOT mortgage rates!) and got most other major world governments to make similar rate cuts.

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!

October 10, 2008 | Filed Under Arizona Mortgage Rates, Chandler Mortgage Rates | Leave a Comment 

 

Chandler Arizona Mortgage Rates for October 7, 2008

Posted by Justin McHood on October 7th, 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!

October 7, 2008 | Filed Under Arizona Mortgage Rates, Chandler Mortgage Rates | Leave a Comment