Mortgage Rates Drop – Get Off the Fence

On Friday April 5th bad news was great news if you're a fan of record low Arizona mortgage rates. If  instead, the stock market is what you have on your radar, well turn off the news and check back in next week to see if things get better.  From January 24th of this year up through the last week of March mortgage interest rates were on a slow yet steady escalator gradually lifting them to higher levels. This first week of April 2013 put a staggering halt and dramatic reversal to the … [Read more...]

Arizona Mortgage Rates – How Low?

When I hear people complain about Arizona Mortgage rates closing in on the 4% range all I can think is "Never look a gift horse in the mouth" - a saying I can still hear my mom telling me as a little boy.  It is based on the fact that one of the ways a horse owner judges the quality of its horse is by the stallion's tooth quality.  Therefore, if someone gives you a horse, good manners would have you not judge the gift but be thankful instead.  This saying holds true with today's Phoenix mortgage … [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...]

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...]

Mortgage Rates Roller Coaster Ride

Over the past month and a half we have seen some of the lowest mortgage rates in history! In fact, we have seen THE lowest mortgage rates in history. Interest rates however can move and change in the blink of an eye. Mortgage rates are tied to the financial markets and therefore no one is truly in "control" of where rates are. If you take a look at the image in this article you will see three distinct and very different trading patterns relative to mortgage rates. The chart shows the price … [Read more...]