News From 1st Rate Mortgage Services LLC

We are finally seeing reports of housing prices increasing. The reports are of an increase in values for the past 6 consecutive months. Jobless claims are still very high, so this turn around in home values may be the best news we have had in quite some time. I have personally spoken to several realtors in different markets and I'm hearing the same thing from them. With rates at their lowest levels ever, people are seeing this as a great opportunity to purchase homes at the lowest prices we've seen in our lifetime. The good times aren't back yet but this certainly a light at the end of the tunnel.

Current Mortgage Rates

We can help you with a new purchase or refinance your existing loan with these great rates!

Payment Calcuator

Term | Rate | Orig Fee | Disc Fee | APR

30-Yr Fixed | 3.125% | 0.125% | 0.000% | 3.188%

20-Yr Fixed | 3.125% | 0.125% | 0.000% | 3.246%

15-Yr Fixed | 2.625% | 0.375% | 0.000% | 2.807%

10-Yr Fixed | 2.625% | 0..375% | 0.000% | 2.870%

5/1 ARM | 2.375% | 0.875% | 0.000% | 2.511%

30-Yr Jumbo| 3.875% | 0.250% | 0.000% | 3.903%

*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 09-26-2012 at 10:30 AM and are subject to market fluctuations. Jumbo rates are based on the above qualifications with an LTV of 80% and a loan amount over $417K.

Featured Product of the Month

Purchase Money Loans With 3% Down for Homepath Properties:

Purchase a primary residence with only 3% down. No appraisal required and no PMI. A Homepath property is a Fannie Mae foreclosure. You can search for these properties at Homepath.com. Just enter the zip code of the area you are considering moving to, and watch all of the available homes pop up. These homes are price to move so they go very quickly. No appraisal, 3% down, no PMI, this is a no brainer.

What's Moving The Market

US and German interest rates continued to decline today and stock markets lower in Europe and early trading this morning had the stock index futures weak after a strong sell-off yesterday. There are various reasons the US stock market saw selling yesterday; anticipated earnings in Q3 are expected to be lower, Europe's relentless inability to deal with its debt crisis and the realization that the Fed's QE3 announced two weeks ago won't add many new jobs---if any. That the Fed continues to buy treasuries and MBSs is expected to add jobs has been the most mis-understood belief in years is finally finding believers as the evidence is irrefutable. Yesterday Philadelphia Fed Pres. Plosser and Richmond Fed Pres. Lacker waded in with comments that easing from the Fed isn't going to accomplish what Bernanke is doing. Lower interest rates have little impact on economic improvement especially when the financial cliff of tax increases and an end to the SS payroll tax cuts loom heavily and trump anything the Fed can do.

Article By: Sigma Research and provided by TBWS Rate Alert on 09/26/12

HARP 2.0 will end in 2013. With rates still at all-time lows, now is the best time to check into refinancing if you, your friends or 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

joe@1stRateMtg.com