Tucson AZ Home Loan Info

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Interest Rates: Make Hay While The Sun Shines!

Sunflower: Mike in Tucson

Butterfly on  sunflower: Mike in Tucson

Pretty, isn't it?  It won't last

The same is true with the extraordinarily low interest rates available right now. 

They won't last.

Don't be a spectator.  Jump in and get that low-interest-rate nectar while the getting's good.

Real world conditions

  • The US has more than $8 trillion in Treasuries outstanding.  That's nearly double the amount just three years ago.
  • China, who holds much of our debt, is experiencing a real estate bubble, with values up nearly 12% from a year ago.  It's economic expansion is slowing, though, and that's going to be a problem.
  • Europe hasn't figured out how it's going to solve the sovereign debt problems of members Greece, Portugal & Spain.

The risk of hyper-inflation has not gone away, and no one in the press (other than talk-radio stations) is taking Congress or our present Administration to task for fiscal irresponsibility.

I'm just sayin...

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I'm Mike in Tucson, your preferred Tucson Mortgage Lender.

NMLS #223495

SUNSTREET MORTGAGE llc ~ Correspondent Mortgage Bank
Offices (AZ) Mesa, Tucson, Nogales, and Albuquerque, NM.

Reach me any time on my Blackberry

520.349.9090

Comment balloon 17 commentsMike Jones • July 20 2010 09:57AM

Comments

If buyers don't buy right now while the rates are low, they just won't buy!

Posted by Joan Cox, Denver Real Estate - Selling One Home at a Time (House to Home, Inc. - Denver Real Estate - 720-231-6373) about 10 years ago

Joan,

It's suprising to find that there are still buyers out there who don't have a clear picture of their ability to buy, and who are preoccupied with other parts of their lives.  Agents need to give a clear call to action.  So do lenders.

Mike in Tucson

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

Mike,

"Don't be a spectator.  Jump in and get that low-interest-rate nectar while the getting's good."

Great and timely advice, extremely well illustrated!

Bill

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

Bill,

Thanks for the encouragement.  I thought about including this photo, with the advice: "Get it before it gets trampled."  LOL

Mike in Tucson

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

I was popping over here to see what eye candy you were bringing me today Mike and here I got wise advice too! The rates are unbelievable, I thoughI'd never see these numbers ever again in my lifetime!!! I certainly didn't hesitate to take advantage of them.

Love the second creature photo along w/ your other title too.

Posted by Cynthia Bartch about 10 years ago

Amen!

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

Mike,

You really know how to make a point with your gorgeous photography and words of wisdom. It "ain't gonna last!"

Margaret

Posted by Margaret Rome Baltimore 410-530-2400, Sell Your Home With Margaret Rome ( HomeRome Realty 410-530-2400) about 10 years ago

Margaret,

It's good to see you; thanks for commenting!

Bill,

Welcome back!  LOL

Cynthia,

Aren't those sunflowers beautiful!  Thanks for commenting.

Mike in Tucson

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

Mike - I hate to be the one to bring this to your attention - but have you visited this page recently? :-)

http://activerain.com/states/AZ

Posted by Tony and Suzanne Marriott, Associate Brokers, Haven Express @ Keller Williams Arizona Realty (Serving the Greater Phoenix and Scottsdale Metropolitan Area) about 10 years ago

Tony, you dog!  LOL

Seriously, I saw that we had flip-flopped this afternoon, and didn't have time to call you.  Congrats!

Mike in Tucson

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

Hi Mike - lovely illustration of a poignant point. You come up with some fabulous posts!

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

Mike - You are still the AZ AR Dude!  When I can take photos like the ones you take - then we'll talk! :-)

Posted by Tony and Suzanne Marriott, Associate Brokers, Haven Express @ Keller Williams Arizona Realty (Serving the Greater Phoenix and Scottsdale Metropolitan Area) about 10 years ago

Mike - I agree.  They will be way back up to 5% before you know it!

Posted by Eleanor Thorne, Equity Resources 919-649-5058 (Equity Resources) about 10 years ago

Great post! You are so right, these rates won't last long!

Posted by Barbara-Jo Roberts Berberi, MA, PSA, TRC - Greater Clearwater Florida Residential Real Estate Professional, Palm Harbor, Dunedin, Clearwater, Safety Harbor (Charles Rutenberg Realty) about 10 years ago

I have been so surprised that they have remained low for so long... I keep expecting them to climb..

Posted by 1~Judi Barrett, BS Ed, Integrity Real Estate Services -IDABEL OK (Integrity Real Estate Services 118 SE AVE N, Idabel, OK 74745) about 10 years ago

Hi Mike -- Your photos are AMAZING.  The colors are brilliant, let alone the composition.  I love the metaphor and very true.  I once had a loan officer tell me that every 1% rise in interest rates equates to a 10% decline in property values to keep the payment the same with the point being, the risk is much more with interest rates rising versus buyers focusing on a potential decline in values. Future values cannot be known, but when interest rates rise, you know it instantly and that risk is real.  No time like the present?

Posted by Chris Olsen, Broker Owner Cleveland Ohio Real Estate (Olsen Ziegler Realty) about 10 years ago

Mike,

Great blog, I am going to re-post it.  Have a great day!

Posted by Adam R. Cohn, We actually get mortgages closed FAST! (STANDARD MORTGAGE CO.) about 10 years ago

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