News From 1st Rate Mortgage Services LLC

I hope you and your family had a wonderful Independence Day! Please remember that we do purchase money loans and can help with the refinance of your current loan regardless of who it is with. Our rates are below the national average and we are usually up to 0.25% to 0.5% lower in rate than you can get from you current servicer as their existing customer.

The rate market has been moving up steadily since May 3rd. There isn't any good news to speak about for the rates. All signs point to hitting 5% much sooner than was expected when rates started increasing. News and signs of an improving economy and new job growth are great news for us and the USA, but not so good for the rate market. I do have some great news to share. Home sale prices are increasing and this increase is what we need to help our homes appreciate in value. Will real estate become one of the best financial tools to build wealth again?

10-Yr Fixedurrent Mortgage Rates

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

Term	Rate	Orig Fee	Disc Fee	APR
30-Yr Fixed	4.375%	1.000%	0.000%	4.526%
20-Yr Fixed	4.250%	0.750%	0.000%	4.427%
15-Yr Fixed	3.375%	1.000%	0.000%	3.633%
10-Yr Fixed	3.250%	0.750%	0.000%	3.570%
30-Yr Jumbo	5.250%	0.750%	0.000%	5.344%

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*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 07/08/2013 at 12:08 AM EST and are subject to market fluctuations. Jumbo rates are based on the above qualifications with an LTV of 65% and a loan amount of 418K. Jumbo's available up to 80% LTV.

Insider's Industry News

Asking Home Prices Rise 10.7 Percent Year-Over-Year in June

Trulia Inc. has released the latest findings from the Trulia Price Monitor and the Trulia Rent Monitor. These indices are the earliest leading indicators available of trends in home prices and rents. Based on the for-sale homes and rentals listed on Trulia, these monitors take into account changes in the mix of listed homes and reflect trends in prices and rents for similar homes in similar neighborhoods through June 30, 2013. Nationally, asking home prices rose 10.7 percent year-over-year (Y-o-Y) in June. Excluding foreclosures, prices jumped 11.4 percent Y-o-Y, signaling that the current rise in asking prices is not primarily driven by the shift away from foreclosure to non-distressed homes for sale. However, the rate of increase in asking prices will eventually.... Continue to article

Article By:National Mortgage Professional Magazine Fri, 2013-07-05 11:22

What's Moving The Market

June : 30-Yr Fixed National Average Rate Chart

The massive increases in interest rates last Friday on the better employment report may have been too much in too soon a time frame. The markets were thinly managed last Friday as many took the day off leading to increased panic selling. The bond and mortgage markets, already quite bearish, pushed those still hanging on to sell, sending rates to levels not expected this soon in the continual increases in rates. The 10 yr hit 2.73% Friday, up 22 bps in yield and 30 yr mortgage rates up 18 bps in rate to close in on 5.0%. Non-farm jobs were up 195K about 30K more than expected and April and May were revised higher adding an additional 70K jobs than originally reported.

Article By: Sigma Research and provided by TBWS Rate Alert on 07-08-2013

HARP 2.0 will end this year. 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

1st Rate Mortgage is not authorized by, in sponsorship with or otherwise affiliated with the lender for whom this newsletter is addressed and received by.

Georgia Residential Mortgage Licensee