Tucson AZ Home Loan Info

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April 14th: Look For Lower Rates Today

US retail sales fell 1.1% in March.  They were expected to rise.  The stock market is down, and the 10 year bond yield is falling.  Other factors affecting today's bond market rally:

  • Sabre rattling:  North Korea pulled out of the nuclear talks.
  • Profits eroding:  Producer prices were down in March by 1.2%.

If you're closing on a loan in the next 30 days, my recommendation is to lock.

___________________________________________________________

I'm Mike in Tucson, your preferred Tucson, AZ Mortgage lender.
Mike Jones (Tucson Mortgage Company, LLC): Loan Officer in Tucson, Pima County, Arizona
Think of me as your Tucson mortgage expert.

Call me if I can help you with a purchase or refi mortgage;
(520) 349-9090

Comment balloon 7 commentsMike Jones • April 14 2009 09:23AM

Comments

Hmmm....I'm more concerned about rates starting to rise. When are we to expect the massive inflation I am hearing about?

Posted by Karen Fiddler, Broker/Owner, Orange County & Lake Arrowhead, CA (949)510-2395 (Karen Parsons-Fiddler, Broker 949-510-2395) over 11 years ago

Hi Mike - Good news that rates are down today.  Like Karen Parsons, I'm concerned about what lies ahead.  Any prognostications?

Posted by Marlene Bridges, Laguna Homes|Laguna Condos|Laguna Real Estate (Village Real Estate Services, Inc.) over 11 years ago

Mike - I believe that the stock and bond markets will both rise, because profits will get better. Unlike a lot of people, I believe the high cost of energy is what hurt the economy most last year, and right now it's a lot cheaper to do anything that uses oil or natural gas. If the carbon tax actually happens, those days are over.

Posted by Larry Brewer - Benchmark Realty llc (Benchmark Realty LLc) over 11 years ago

Hi Mike: I checked rate sheets today - and you are right - as always!

:)

Posted by Matt Listro, Your Credit Repair Expert (National Credit Fixers - Matt Listro) over 11 years ago

I'LL GET THEM LOCKED AS SOON AS I CAN GET THE **^$%&*(  APPROVAL LETTER FROM THE &^$#$%^^%  BANK.

 

Posted by Lenn Harley, Real Estate Broker - Virginia & Maryland (Lenn Harley, Homefinders.com, MD & VA Homes and Real Estate) over 11 years ago

Makes sense to me with the uncertainty in the market locking is the right thing to do.

Posted by Terry & Bonnie Westbrook, Westbrook Realty - Grand Rapids Forest Hills MI Re (Westbrook Realty Broker-Owner) over 11 years ago

Terry,

"If you like it, lock it" is my motto.   Right now, I like it a LOT.

Lenn,

How frustrating it is to negotiate ad nauseum with the bank, and when they finally come through, they want it closed on 21 days!!

Matt,

Tomorrow might be okay too.

Larry,

You have an interesting take on things; I'll be looking for some prognostication on your blog!

Marlene,

The spectre of inflation has to hover over us before fall.  They can't print money out of thin air with impunity.

Karen,

Watch for it to hit with a vengeance just as soon as the Fed says we don't have to worry about it.

Mike in Tucson

Posted by Mike Jones, Mike Jones NMLS 223495 (SUNSTREET MORTGAGE, LLC (BK-0907366, NMLS 145171) ) over 11 years ago

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