Week of: Monday, September 19, 2011
Present Market Conditions
The Fed, in conjunction with the European Central Bank and 5 other major central banks will provide a lending facility to shore up liquidity for European banks. In spite of significant increases in the August core CPI and the Producer Price Index, mortgage rates saw slight declines. 30-year fixed-rate mortgages averaged 4.09% with an average of .7 points. 15-year fixed-rates averaged 3.30 percent with .6 points. 1-year ARM rates averaged 2.81% with .6 points. Frank Northaft, Freddie Mac’s vice president and chief economist noted, “By refinancing into today’s 30-year fixed rate mortgage, homeowners could shave almost $1,715 a year in interest payments on a $200,000 loan.”
Expectations
Housing Starts are reported Tuesday. Existing Home Sales and Leading Indicators are released Wednesday and Thursday, respectively. The week’s most significant news comes Wednesday with the Fed report. A division exists within the Federal Open Market Committee so investors are watching for signs of any monetary easing.
Guidance
Both fixed-rates and ARMS remain at historically low levels. Call your mortgage professional today to purchase a new home or refinance your existing mortgage loan!
About Edgar DeJesus
Edgar DeJesus, a Husband first and foremost who shares his life with his loving wife Emily and their pets Sammy, Charleston(chocolate American Cocker Spaniels) & Rocko (a fawn Great Dane). Fellow colleagues recognize him as one of the top mortgage planners in the Tampa Bay market and a fellow professional you can count on, his clients love him for being their trusted advisor. What keeps this hardworking mortgage planner going is his pure passion to deliver an extraordinary customer service experience. The question behind his motivation is simple - What differentiates him from every other real estate financing professional? He answers the question by saying: On every mortgage I provide for a client I treat it as if I were buying or building a home for my family, consolidating my debt, lowering my interest rate, or improving my own home. I deliver no less than I would expect if someone were providing me with a mortgage and most important their want & need is my want & need. He also says it is not just about providing mortgages, it’s about building life long lasting relationships. Some of his favorite hobbies are spending time with his family and friends, playing golf, dining at steakhouses, & fellowship with others.
Satisfaction for Edgar DeJesus comes from not only closing loans but rather opening doors. Receiving referrals from clients is a great compliment he can receive and the greatest compliment is to have clients repeat their loan experience with him. A great demonstration that he does not over promise and under deliver.
