Tucson AZ Home Loan Info

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9/11 - Look For Interest Rates To Be Unusually Good Today

9/11 - Look for interest rates to be unusually good today. Here's why:

1.  Demand for Treasury bonds is outstripping record supply.  The world's on edge as jittery traders see a deteriorating economic and political climate.  Yesterday's 30 year bond auction saw bids for nearly three times the 12 billion bond offering.  What that says is open to interpretation, but I believe the Iran / Israel potential for confrontation is a driver.

2.  President Obama predicted unemployment above 10% for 2010's first quarter.  That number, unthinkable to the administration only three months ago, has the potential to rise even further.

Forget the partisan political implications this may have.  Don't go there!  You have a business to run.  Focus instead on the opportunity that momentarily attractive interest rates present to your business.

If you're a lender, you want to be on the phone to every REALTOR you know.

If you're a REALTOR, you want to be on the phone to every warm lead you've dropped for inactivity.

If you're a title person, send an email blast to every lender and agent in your database.

If you're a buyer, call your real estate agent and get going.

 ___________________

I'm Mike in Tucson, your preferred Tucson, AZ Mortgage lender.
Mike Jones (Tucson Mortgage Company, LLC): Loan Officer in Tucson, Pima County, Arizona
SUNSTREET MORTGAGE
Call me
if I can help you or someone you know with a purchase or refi mortgage.
(520) 349-9090

Comment balloon 8 commentsMike Jones • September 11 2009 09:37AM

Comments

Hi, Mike.  Glad there's an expert like you out there to keep us informed.  John

Posted by Dr. John McMillen (Clovis Real Estate) about 10 years ago

Great information, Mike!  Thanks so much!

Posted by Lina Robertson, REALTOR® Serving Springfield, Nixa and Ozark, MO (RE/MAX Solutions and RE/MAX House of Brokers) about 10 years ago

So no matter who we are, today is a good day to take action! :) Kate

Posted by Kate Kate about 10 years ago

Mike,

I don't agree with one of your assumptions, #2, but I couldn't agree more with your conclusions and advice!

You know I love redundancy so let me quot some excellent advice for real estate people!

"If you're a lender, you want to be on the phone to every REALTOR you know.

If you're a REALTOR, you want to be on the phone to every warm lead you've dropped for inactivity.

If you're a title person, send an email blast to every lender and agent in your database.

If you're a buyer, call your real estate agent and get going."

Bill

 

Posted by William J. Archambault, Jr. (The Real Estate Investment Institute ) about 10 years ago

Hi Mike - Good advice! Pricing is phenomenal right now, isn't it? Just locked in a "borderline" buyer's loan whose debt-to-income ratio needed to be below 41% for USDA and with the dip in rate, they could afford a slightly more expensive home they'd been eying , which they got coming in at 40.7%! The dip means other buyers will have zero payment increase from what they've been paying in rent, without factoring in any tax benefit they'll have when they become homeowners. Don't you just love your job?

Posted by Karen Cooper, Helping Homeowners w/Home Loans in 27 US States (Karen Cooper | Sr Retail Loan Originator ! NMLS # 223305 | 360 Mortgage Group LLC Austin Texas) about 10 years ago

Karen,

Yes I do!  It's pretty obvious that you love your job, too.  Thanks for commenting.

Bill,

I defer to your superior wisdom.  LOL  Thanks for stopping by!

Kate,

That's the attitude!

Lina,

You're welcome!

John,

Thanks for being the first to comment!

Mike in Tucson

Posted by Mike Jones, Mike Jones NMLS 223495 (SUNSTREET MORTGAGE, LLC (BK-0907366, NMLS 145171) ) about 10 years ago

Mike - I think you must be connected to the Dionne Warwick Psychic Friends Network!  Right on!  Now, can you get them to go a little lower?

Posted by Jane Penttinen, NMLS #222178 (V.I.P. Mortgage ) about 10 years ago

Jane,

I hope so.  LOL

Mike in Tucson

Posted by Mike Jones, Mike Jones NMLS 223495 (SUNSTREET MORTGAGE, LLC (BK-0907366, NMLS 145171) ) about 10 years ago

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