Back from a short break
by Andrew Hahn on Mar.08, 2010, under Market Information
Sorry I haven’t blog for the past several weeks took a break. But getting back at it. Over the past month we seem to be in a pretty narrow range as far as interest rates are concerned. One day it looks as though they are going to start that trek upwards then something happens and they work their way back down. This month should show us how this spring might shape up. 
This is the month that the treasury is supposed to stop buying mortgage backed securities. There has been predictions that when this happens that interest rate could rise, those predictions range anywhere from up .40 basis points to up a full 1%. While there is still talk that the fed well have a difficult time withdrawing from purchasing mortgage securities at this time given the still very fragile housing industry. Mortgage foreclosure are expected to get even worse than they are now. In 2009 as it was stated 2.8 million people came under the cloud of foreclosure and they are predicting that could rise to 3 to 3.5 million in 2010 not good. CLICK HERE to read further regarding the foreclosure rates. All this while processing foreclosures has slowed down as banks try to deal with the continued flood of foreclosures. SOME GOOD NEWS the program that i have been telling you all about the HARP Home Affordable Refinance Program has been extended for another year; it was slated to end June 15th 2010 but now has been extended until June 30 2011. CLICK HERE to go to my website to see if you qualify. We know the programs extended for another year but are the rates going to stay low? Of coarse this won’t mean much If they don’t keep the rates down and if rates rise I feel it is going to really hurt those hoped home buying season as well; especially with the home buyers credit set to expire at the end of April (as it stands for now). Now keep in mind with the tax credit you have until the end of April to have a property under contract but have until the end of June to close on the property. I’m sure that is going to be an interesting time for sellers who have buyers wanting concessions to execute those contracts; I’ll bet home inspections are going to get a lot more attention as far as getting the sellers to get the little stuff fixed or else. Please visit my website www.capitaladvantagemortgage.com it’s complete with mortgage calculators comparisons and you can even shop through Real Estate listings. I just added a new listing by Pat Knapp CHECK IT OUT and here is a link to a video tour as well CLICK HERE . Please feel free to ask me any questions you may have, I’ll be bloggin at you again soon.
Remember to get pre-qualified visit my website or give me a call
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