Tucson AZ Home Loan Info

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The Stock Market's Up Significantly and Interest Rates Are Improving! 03-12-2009

Remember when these were all you had to call home when you were on the road?  So do I, and interest rates are lower now than they were back when these were being phased out for touch-tone payphones.

The stock market improved today by more than 200 points.  Interest rates dropped.  Rates are loosely tied to what happens in the bond market.  What happened today is contrary to what usually happens.  Bonds and stocks usually move in opposite directions. 

You don't care why.  Take advantage of it.  If you're looking for a mortgage of any kind, 30 year fixed rates for the best borrowers (good credit, W2 wage earner) are back below 5%, with APRs in the low 5s, depending on your loan adjustments.

Okay.  You're the one person who actually wants to know why.  I'll tell you.  Today's auction by the Federal Reserve of $11 billion in 30 year bonds was mobbed.  Demand was high, so rates fell.  Buyers included foreign central banks buying through investor groups.

The point is, cheap money is available for purchase and refinance.  Call me, and let's talk.

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.  I only loan in Arizona.

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

Comment balloon 15 commentsMike Jones • March 12 2009 02:59PM

Comments

Mike,

Isn't it about time we hear some 'good news' on the economic front...!!! Thanks,   Fran

Posted by Fran Gaspari, "The Title Man" - Title Insurance - PA & NJ (Patriot Land Transfer, Inc.) over 11 years ago

Fran,

It really is some good news.  The market was actually up about 240 points at the end of the day, and rates are down again!  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) ) over 11 years ago

Hi Mike, I'm more interested in website stuff these days. Pretty boring writing about RE for me right now. This too shall pass.

Posted by Susie Blackmon, Ocala, Horses, Western Wear, Horse Farms, Marketing over 11 years ago

Mike - Having sunny days, and 3 days of improvement on the Dow, is enough to buoy spirits, that's for certain!  Citibank seems to be healing, and things at GM apparently aren't quite as dire.

Posted by Myrl Jeffcoat, Greater Sacramento Real Estate Agent (GreatWest Realty) over 11 years ago

Mike,

Why was this not a featured post?  Urgh...  Good news and it doesn't make it to the front page of AR.  "Waiter, please, I'd like to complain..."

I'm flagging!  And, re-blogging!!!

Maryellen

Posted by Kevin & Maryellen Garasky, KMG Mortgage Group - ID & WA (KMG Mortgage Group - Kevin & Maryellen, Idaho & Washington) over 11 years ago

Good news. Thanks for coming back on Surprise!

Posted by Ann Heitland, Retired from Flagstaff Real Estate Sales (Retired from RE/MAX Peak Properties) over 11 years ago

Ann,

You're welcome!  It's good to see you.

Maryellen,

Thanks for the encouragement and the ReBlog!

Myrl,

I took two new applications today.  I'm smiling in sunshine!

Susie,

Thanks for stopping by; I hope you're continuing to do well.

Mike in Tucson

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

Mike, I just "reblogged" you to my other blog: http://blog.bestflagstaffhomes.com/public/item/228561

Posted by Ann Heitland, Retired from Flagstaff Real Estate Sales (Retired from RE/MAX Peak Properties) over 11 years ago

Mike,

Thanks for the easy to understand explanation..Good news!!!

Posted by Dorie Dillard CRS GRI ABR, Serving Buyers & Sellers in NW Austin Real Estate (Coldwell Banker Realty ~ 512.750.6899) over 11 years ago

Dorie,

You're welcome.  I wish you much success today.  Right now.  This weekend.

Ann,

Thanks for ReBlogging!  You're the best!

Mike in Tucson

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

Mike, Encouraging indicators, just like Spring, are coming out of hiding, if you allow yourself to look for them. Thanks for sharing. What a great way to bring in the week-end.

  • and yes, I used to keep a pile of change in my car to get underwriter status while I was out in the field. kate
Posted by Kate Kate over 11 years ago

Hi Mike: We are starting to see a good spring market here too!

:)

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

Matt,

I'm glad to hear it!  Thanks for commenting.

Kate,

That's funny about the change.  So you remember what that rotary dial payphone looked like!

Mike in Tucson

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

Mike - This is great news. And I, too, remember calling in on these phones, as well as my first cell phone that I carted around in a 6"x12" case that weighed a TON.

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) over 11 years ago

Karen,

My first car phone had a unit in the trunk, and it was hardwired.  Look at us, trading "old" stories!  LOL

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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