Back to Work

Another Happy Friday to You,

The highly anticipated Jobs Report was released this morning, revealing that employers created 203,000 job last month, above the 188,000 expected and shockingly close to the ADP report released earlier this week (they are notoriously incongruent). The Unemployment Rate fell to a 5-year low of 7% for November and they also revised October down to 7.0% as well.

The Hourly Earnings Rate ticked up to 0.2%, showing that the 93% of the population who is employed is making more money that we were last month, though marginally. Contrast that with a separately measured index, Personal Incomes, which slipped in October by -0.1%. We are not letting that stop our proclivity for reckless abandonment of common sense however; Personal Spending marched up 0.3%. Consequently This Christmas should be 1/3% merrier than the last!

Though they’ll end the week higher, mortgage rates managed to dodge a bullet with the rosy employment outlook. 30 Year interest rates are 4.0-4.5%. Along with higher interest rates on the horizon, a slew of underwriting requirements imposed by our preeminent elected officials (the same ones who contrived the Affordable Care Act) will make it more of a challenge to qualify for financing to purchase your next home starting in January. Get in touch with me sooner rather than later to strategize.

If you are interested in a very useful, very simple (though very comprehensive), and very free loan calculator with up to the minute interest rates for a variety of loan programs, click on this link from your own mobile device: It’s mine so there is no spamming or other baggage associated with it. And if you hate it, you can delete it at any time.

Mortgage Banking

Whether you are buying a home, acquiring investment properties, seeking to pay off your mortgage more quickly, consolidating your debt, or just lowering your payment, my job is help you achieve your financial goals, and  make your life better!

To that end, I Promise to:

    • Be honest and ethical
    • Do what I said I would: rate, fees, etc.
    • Return your phone calls, emails, texts, etc. in a timely manner
    • Help your friends, family members, neighbors, and co-workers
      with the same integrity


Zillow Home Values/Christmas Social

Happy Friday!

A prominent home value website shows that prices bumped up 1.2% during the peak home buying season of June through September. They show that values only increased 6.4% from last September, and prognosticate that home values will only rise 3.8% by next September. While certainly better than a divination for diminution, the calculation is only roughly half of the gain that other market mystics predict.

Interest rates are still trending upward despite the affirmation for continued Federal intervention by outgoing and incoming Fed Chairs. Government loans are still stellar at 3.75% for 30 year and 3.375% for 15 year, while Conventional loans are 3.375% for 15 and 4.25% for 30 year programs respectively. The APR will be higher—especially on FHA—and varies with the down payment and loan amounts. I will be more than happy to run specific numbers for you if you are looking for something.

We are having an open house in our building in a couple of weeks and hope that you can come:

Mortgage Market Movement 11/08/2013

Happy Friday,

The big headline today is that 204,000 new jobs were credited last month, more than double the 100,000 expected. Oddly enough, the Unemployment Rises to 7.3% from last month’s 7.2%. Stocks are marginally (DOW up 97), but the big news is the bond market. The 10 Year yield spiked instantaneously from 2.6% to 2.75% as prices opened down 90bps.

Mortgage interest rates are up .125% across the board, from 3.875% for 30 year FHA to 4.375% for Conventional. 15 year rates are still down at 3.375%.