Mortgage Rates Drop in Arizona

Big news!  Arizona mortgage rates drop!  For months, the mortgage market has awaited September 18, 2013 to see what the Fed would do regarding their mortgage rate policy.  After waiting and guessing, expecting and anticipating the Fed shocked the market.  They surprisingly decided to continue purchasing mortgage backed securities rather than "tapering" their purchase program as many expected.  As a result, we saw mortgage rates drop. Big Ben and the Fed felt that our economy was not quite … [Read more...]

Win The Mortgage Rate Lock Game

One of the most critical components to structuring an Arizona Mortgage Plan when purchasing a home or refinancing an existing mortgage is interest rate.   As Arizona mortgage rates continue to move daily, putting together a strategic and effective game plan with your loan officer to capture the lowest rate is vital. Secure the Lowest the Lowest Mortgage Rate The challenge mortgage applicants face with regard to locking looks like this - If mortgage rates look good today and we lock in what … [Read more...]

Arizona FHA Streamlines

Check out this updated article. As your Arizona FHA mortgage lender I wanted to share some  great news for FHA borrowers that have been stuck due to rising mortgage insurance costs.  This change will help Arizona FHA homeowners take advantage of record low Arizona Mortgage Rates. Check out these 2 articles and read below: http://www.housingwire.com/article/fha-raise-insurance-premiums-april http://www.housingwire.com/article/fha-announce-premium-changes-soon FHA Streamline Refinances … [Read more...]

Debt to Income Ratio on Home Loans

When an Arizona mortgage lender evaluates a prospective borrower's mortgage application, one of the main elements used to approve or decline each borrower is something called a "Debt to Income Ratio." What is Your Debt to Income Ratio?  The Debt to Income Ratio (or "DTI" for short) is a method used to determine how much debt a mortgage loan applicant has in comparison to their gross income.  Each different type of Arizona mortgage (Conventional, FHA, VA, USDA, Jumbo etc..) sets a maximum … [Read more...]

“Operation Twist” mean Lower Mortgage Rates?

The Federal Reserve made an announcement today that pushed mortgage backed securities higher than ever before. The Fed Reserve announced "Operation Twist."  In short, the Fed decides to sell $400 billion in short term securities and reinvest that same $400 billion in long term securities - specifically mortgage backed securities.  This move will support current low (maybe even lower) mortgage rates. Why is this important to what you and I do?  In the short term it is significant because today’s … [Read more...]