Low Arizona Mortgage Rates Until 2014?

It's a fact, each time interest rates go down mortgage application activity goes up (and we are not just talking about refinances).  As an Arizona Mortgage Lender, I have seen this trend many times.  There is a distinct correlation between low rates and purchase activity.  Over the past few years we have talked about the Fed's plan to keep rates low in order (in part) to help promote the housing market.  Well, they have succeeded tremendously in accomplishing their goal. Whether or not you … [Read more...]

HARP 2 Makes Inequity Refi Simple

As you may have heard, the government is overhauling it's HARP refinance program.  This upgrade will drastically improve the existing HARP (“upside down/no equity refi program”) that may finally allow this program to reach the millions of American and Arizona homeowners that need it. However, there are 3 key proposed changes that would allow many more Arizona homeowners to take advantages of HARP2:   1. The new proposed HARP 2 refinance eliminates the 125% cap meaning that there is … [Read more...]

Refinancing When you are Upside Down

Great News!!!  Rates are at all time lows. Frustrating News!!!  Many people don't have enough equity to refinance their homes. While not everyone that is the lucky owner of a home that has decreased in value has an option to refinance, many equity deficient homeowners have options.  Phoenix Area Mortgage Rates are at all time lows and now is the time to take advantage!  Here are a few options for homeowners that do not have equity in their current home: 1. FHA, VA and USDA homeowners: … [Read more...]

Important Rate Update and Baby News!

They are falling!! Mortgage rates continued to fall through the close of business today. Typical 30 year fixed mortgage rates are currently at 4.75%-4.875% with 0% origination for a 30 year fixed. (depending on credit, product type and purchase type). I want to go geek on you for a minute just to give a visual. The chart below shows 14 continuous trading days of increased bond prices (green ticks) which corresponds directly to a decrease in mortgage rates. This is mostly a result of meager … [Read more...]