Mortgage Discussion for the Panhandle area

As I said WOW, last week was quite a ride. Hold on for another week and we will see where we end up. The markets flipped all over the place last week with rates at 5.75% on Monday, 5% on Wednesday and 5.5% by Friday. Expect another week of the fun ride. With a load of economic data and a Federal Reserve meeting rates will move daily. I believe the end result will be very positive.

Good news of the week has to be buyers. Buyers are showing up and looking at houses. I am not sure if the rates are helping or the time has just come for some real estate movement but alas good news is good news.

From a mortgage stand point we are starting to see some refinances. This too is good news as people start to get rid of the adjustable rate mortgages and lock in on a more stable fixed option. The more refinances we see nation wide will soften the concerns of future foreclosures. This will eventually lead to freeing up some credit policies. This too is good news.

100% money is still flowing at a blistering pace. Closings for low or no down payment deals are still the most sought after loans and the money is readily available.

We all stand together in an ever changing market with good news happening everywhere around us. It is up to the professionals in the real estate field to shout the good news from roof tops as the media tends to focus on every morsel of bad news it can find. Money is flowing and home prices are marked to sell. A great combination.