Wednesday, February 29, 2012
Tuesday, February 28, 2012
Let me Help and Weekly Mortgage Update!
Weekly Update: February 24, 2012
Well, I told you so….Yes, fears over Greece calmed down and rates ticked up. But don’t you worry. There was more bad news out of Europe this week as the International Monetary Fund is asking for more money, implying that they don’t have enough money to stop a meltdown in Greece, Italy, Spain and Portugal if those WERE to happen. So rates drifted back down a bit and we remain in the trading range that we’ve been in all month.
There was good news on the housing front. Residential real estate markets tightened up in January, which is good, as EXISTING home sales showed improvement with the fastest sales rate since May 2010. NEW home sales, though down in January, were revised upward in December, giving us a stronger‐than‐expected annual rate of 321,000 units in January. The budding strength in home sales is consistent with the stronger job creation that began in late 2011 and looks like it is carrying over into early 2012.
So, low rates, sales starting to pick up…sounds like it’s time for your buyers to get on the 2012 home buying train. They SURE don’t want to be left behind when it picks up steam. ALL ABOARD!!
Oklahoma Housing Finance Agency came out with the 2012 A Bond Program this week and the rate is 4.375% with 3.5% Down Payment Assistance. On this program the bond authority is charging an additional $150.00 funding fee so keep this charge in mind when you are preparing your cost sheets for your buyers.
This week Freddie Mac’s 30 year fixed rate survey ticked up to 3.95% depending on program, credit and points.
Ted Clay
Senior Loan Officer
Senior Loan Consultant
NMLSR # 217991
OK License # MLO01963
Office: 405-341-8644 x 102
Cell: 405-826-1320
Fax: 866-208-5309
tclay@wrstarkey.com
www.TedClay.com
Senior Loan Officer
Senior Loan Consultant
NMLSR # 217991
OK License # MLO01963
Office: 405-341-8644 x 102
Cell: 405-826-1320
Fax: 866-208-5309
tclay@wrstarkey.com
www.TedClay.com
Saturday, February 25, 2012
Friday, February 24, 2012
Warning for Edmond Homeowners with Sprinkler Systems!
Car parts and copper have been a recent focus of thieves in the metro, but now they may have a new target.
Police say they are targeting in-ground sprinkler systems in Edmond for the brass.
Residents in two neighborhoods have reported damage that requires expensive repairs.
Lynn Richter lives just doors down from where thieves have taken brass off dozens of sprinkler systems.
"It kind of makes me concerned because my stuff is right here and I'm going to go to turn on my sprinkler system and realize it's not going to work," said Richter.
Police say the most recent theft was on Fox Lake Lane.
The homeowner called police after noticing the brand new brass anti-siphon valve for his sprinkler system was missing.
He called his plumber, who discovered several valves missing from other yards.
Lawn experts say the brass pieces are a hot commodity for thieves, who can get $10 to $12 apiece.
The repair costs to homeowners, however, can be up to $500.
"So they steal something out of there and I'm out $500 to fix it?" said Richter. "Now I feel even less good about that."
Police say they don't have any suspects.
Police say there isn't a while lot people can do to protect their sprinklers.
They suggest making friends with your neighbors so everyone can watch out for each other.
Source: KOCO.com
Police say they are targeting in-ground sprinkler systems in Edmond for the brass.
Residents in two neighborhoods have reported damage that requires expensive repairs.
Lynn Richter lives just doors down from where thieves have taken brass off dozens of sprinkler systems.
"It kind of makes me concerned because my stuff is right here and I'm going to go to turn on my sprinkler system and realize it's not going to work," said Richter.
Police say the most recent theft was on Fox Lake Lane.
The homeowner called police after noticing the brand new brass anti-siphon valve for his sprinkler system was missing.
He called his plumber, who discovered several valves missing from other yards.
Lawn experts say the brass pieces are a hot commodity for thieves, who can get $10 to $12 apiece.
The repair costs to homeowners, however, can be up to $500.
"So they steal something out of there and I'm out $500 to fix it?" said Richter. "Now I feel even less good about that."
Police say they don't have any suspects.
Police say there isn't a while lot people can do to protect their sprinklers.
They suggest making friends with your neighbors so everyone can watch out for each other.
Source: KOCO.com
Wednesday, February 22, 2012
Weekly Mortgage Update -- Rates are good!
Weekly Update: February 17, 2012
This week we see inflation creeping back into the picture. Both the core producer and consumer price indices came in higher than expected, with the year-over-year core consumer index rising to the highest level since October of 2008. Add to this the fact that housing starts and building permits were better than estimates, and initial jobless claims were much lower than market estimates, and you have a good scenario for future inflation.
Remember that inflation is the enemy of bonds and mortgages. Fannie and Freddie have no choice but to raise rates when inflation hits so that the investors who buy their bonds get their required return on investment AND make up for what inflation takes away from future dollars. The only thing holding rates down is the Greek potential default. Expect to see rates tick up if we there is good news out of Greece this weekend.
This week Freddie Mac’s 30 year fixed remained at 3.87% depending on program, credit and points. Have a great weekend and have your buyers call us so we can get them approved to buy.
Ted Clay
Senior Loan Officer
Senior Loan Consultant
NMLSR # 217991
OK License # MLO01963
Office: 405-341-8644 x 102
Cell: 405-826-1320
Fax: 866-208-5309
tclay@wrstarkey.com
www.TedClay.com
Senior Loan Officer
Senior Loan Consultant
NMLSR # 217991
OK License # MLO01963
Office: 405-341-8644 x 102
Cell: 405-826-1320
Fax: 866-208-5309
tclay@wrstarkey.com
www.TedClay.com
Sunday, February 19, 2012
Friday, February 17, 2012
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