A 1st Rate Mortgage with A 1st Rate Experience

770-334-8451
News You Can Use
1st Rate Mortgage News 
April, 2012 - Vol 3, Issue 1
In This Issue
Current Mortgage Rates
Featured Product of the Month
What's Moving The Market
 
1st Rate Mortgage Quick Links
HARP Quick Links
Sign Up For Free Daily and/or Weekley Market Updates: By Sigma Reaserch
Greetings!

Joe Adsit

NMLS 216585


Just as expected, rates continue to fall at a steady pace while the bad news continues about the faltering US and global economies that affect us. The rate markets are looking for any kind of positive news to bring us off the lows we are experiencing right now, and with good news (no matter how significant or insignificant) will come an uptick in the rates. With rates testing the absolute floor we have our best chance to see rates bounce upward in the near future as we've seen time and time again.

Current Mortgage Rates 
Calculator with Pen and coins
Payment Calcuator
 

  Rate   |       Term      | Orig Fee | Disc Fee | APR

3.500% | 30-Yr Fixed |  0.000%   |  0.000%  | 3.576%

3.375% | 20-Yr Fixed |  0.500%   |  0.000%  | 3.522%

2.750% | 15-Yr Fixed |  0.000%   |  0.000%  | 2.864% 

2.750% | 10-Yr Fixed |  0.000%   |  0.000%  | 2.917%

2.375% |   5/1 ARM    |  0.250%   |  0.000%  | 2.466%

4.375% |30-Yr Jumbo|  0.000%   |  0.000%  | 4.400%

 

*Posted rates and APR's are based on primary residence, Purchase or Rate and Term Refinance loan amount of $165K, 80% LTV, mid credit score of 740 or higher, full income and asset verification.  Rates and origination fees as of 05-15-2012 at 1:00 PM and are subject to market fluctuations. Jumbo rates are based on the above qualifications with an LTV of 75% and a loan amount $500K.  

 
Featured Product of the Month

Financial Freedom - Next Exit Sign90% Cash Out Refinance with No PMI:

 
This product allows us to offer our clients the ability to refinance their 1st and 2nd mortgage (fixed rate loan or HELOC) and/or other debt up to a 90% LTV. There is no private mortgage insurance required on this program and no extra charge to waive escrows. We can do Conforming and Jumbo loan amounts and the program offers rates that are Fixed or ARM products. This is an exclusive program offered by one of our banking partners and is not readily available on the main stream market.
 
What's Moving The Market 
This week after a week with little domestic economic data, there are a number of key data points on Tuesday, Wednesday and Thursday. April reports for the most part; retail sales, CPI, housing starts and permits, industrial production and factory use, the Philly Fed May index. The minutes from the 4/25 FOMC meeting will get a lot of focus, looking for clues about another possible QE; we still hold the Fed will not initiate another QE but there are many analysts and economists thinking the Fed will ease one more time. If the Fed were to ease again it would likely have to happen at the next FOMC meeting in June, after that the Fed will likely refrain with elections coming in November.

Article By: Sigma Research and providede by TBWS Rate Alert on 05/14/12

HARP 2.0 will end in 2013.  With rates still at all-time lows, now is the best time to check into refinancing if your friends and family have not done so already.  We will dedicate as much time and help as is needed to each person that inquires about refinancing.  All I can ask is that you have them call me and I will take it from there.  Honestly, they will appreciate you thinking of them.

Sincerely,
Joseph Adsit
President / Sr Loan Originator
NMLS #216585
1st Rate Mortgage Services LLC
NMLS #771904
770-334-8451