Tucson AZ Home Loan Info

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The Dragon Is Friendly For The Moment: Interest Rates May Hit Lowest Since November 2010

The Dragon Is Friendly Today: Mike in Tucson, AZ mortgage lenderInterest rates may hit their lowest point since November 2010.

The Federal Reserve Bank this morning cancelled their bond auction, catching the Bond Market by surprise.  Initially, there was an official "No Comment" on the cancellation by the Fed, but shortly thereafter, the reason was given as "market volatility."  I've seen nothing on Bloomberg yet, but expect something shortly.

Of course, the stock market volatility today is sparked by the nuclear situation in Japan.

Demand for the 10 year bond picked up overnight, and then spiked on news of the cancellation of the bond auction.  (Interest rates fall when demand for bonds rises.)

The Dragon Is Friendly Today:  What it means to you as an Agent or Borrower

If you're a Real Estate Agent, get on the phone to your borrowers.  Everyone has been predicting higher interest rates, and many buyers are on the fence.  It's time to jump in the game again.

If you're a buyer, this is the time to lock in an interest rate! 

If you're buying in Arizona, call me at (520) 349-9090.

_____________________

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

NMLS #223495

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

Comment balloon 9 comments • Mike Jones • March 16 2011 11:40AM

Comments

Good timely post with some great suggestions. 

Gotta go and get on the phone.

Margaret

 

Posted by Team Honeycutt (Allen Tate) almost 10 years ago

Margaret,

Go get 'em!  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) ) almost 10 years ago

Mike

Now is a good time to take advantage of the low interest rates.

Good luck and success.

Lou Ludwig

Posted by Lou Ludwig, Designations Earned CRB, CRS, CIPS, GRI, SRES, TRC (Ludwig & Associates) almost 10 years ago

Heading for the phone. Thanks Mike.

Posted by Douglas Trudeau, MBA, Assoc. Broker, Selling Tucson Real Estate (Tierra Antigua Realty) almost 10 years ago
I did notice that interest rates are under 5% right now for 30 year conventional financing. The buyers need to get off the fence now!
Posted by Kay Van Kampen, Realtor®, Springfield Mo Real Estate (RE/MAX Broker, RE/MAX) almost 10 years ago

GOOD MORNING MIKE!  Are rates low as well for investor and LOC loans?  Thanks for the push to call potential Buyers today!

Posted by Gabrielle Kamahele Rhind, Broker/Owner (KGC Properties LLC, Tucson Property Management & Real Estate) almost 10 years ago

Hi Mikey - good information and thank you for the send out card - way cute.  Not sure I want to spend $99/year for that upgrade, however.

Posted by Dana Lim (Allstate Insurance) almost 10 years ago

Mike - it is always interesting to get updates on the interest rates! When they went up a bit it was also great seeing how many people came out of hiding and started buying!!!!

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) almost 10 years ago

Mike - do give me a head's up before your Florida trip so we can get together - your brother doesn't live that far from where I am!!!

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) almost 10 years ago

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