Well the year ended in our industry with great anticipation of all the new mortgage laws that are set to go into effect on Friday. This will be another game changer for mortgages going forward. For most of my clients, it will mean a little more paperwork when applying and obtaining a mortgage. For others, it may close them out of getting financing all together.

With all of the new laws making it tougher to get a loan, I suggest contacting me to review your application, credit and financial information before the time comes when you start thinking about searching for your next property purchase. I will be happy to get you pre-approved so you will have no problems with your financing.

Please always remember, our rates are below the national average and we are usually anywhere from 0.25% to 0.5% lower in rate than your current lender or bank.

Current 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	P&I Payment
30-Yr Fixed	4.375%	0.282%	0.000%	4.513%	$998.57
20-Yr Fixed	4.125%	0.072%	0.000%	4.287%	$1,225.17
15-Yr Fixed	3.250%	0.598%	0.000%	3.530%	$1,405.34
10-Yr Fixed	3.000%	0.000%	0.000%	3.231%	$1,931.21
30-Yr Jumbo	4.500%	0.034%	0.000%	4.589%	$2,180.49

*Posted rates and APR's are based on primary residence, Purchase or Rate and Term Refinance loan amount of $200K, 80% LTV, mid credit score of 740 or higher, full income and asset verification. Rates and origination fees as of 01/06/2014 at 12:30 PM 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.

**Payments do not include amounts for taxes and insurance premiums.

Yearly 30-Yr Rate Chart

Mortgage Calculators

Insider's Industry News

Out With the Old: Mortgage Tax Break Ushered Out Along With 2013

While most of the nation was ringing in 2014 as the Swarovski crystal ball dropped in Times Square, the American government was busy eliminating a raft of tax breaks as part of their usual year-end house cleaning. While this doesn't come as much of a surprise, the vanishing act of these tax breaks typically goes unnoticed until the last minute, sparking a lobbying craze across Washington.

"It's a hit on people who are meant to be helped," Kevin Stein, associate director of the California Reinvestment Coalition, told The Los Angeles Times. "It is a big deal and it would be very unfortunate if

..... Continue to article

Article By:Mortgage Professional America by Robert Ottone , Jan 03,2014

What's Moving The Market

December : 30-Yr Fixed National Average Rate Chart

What happened last week?

Mortgage backed securities (MBS) gained +14 basis points (BPS) from last Friday's close which caused 30 year fixed rates to move sideways. This small week-over-week gain in MBS prices was the first after six straight weeks of losses. We saw our best rates on Monday and our worst rates on Friday morning. We traded in a very narrow range all week.

This was our second straight holiday-shortened week that saw very few economic releases and no major U.S. Treasury auctions. On the housing front, the Case-Shiller Home Price Index showed a year-over-year gain of 13.6%. Manufacturing was very strong. The Chicago PMI came in a 59.1 and the ISM Manufacturing Index was a robust 57.0. Construction Spending was also a bright spot last week.

Normally, these type of readings would have pressured MBS pricing and therefore increased mortgage rates across the board. But after six straight weeks of selling off, MBS found some support in large part due to the 10 year Treasury note yield as it once again closed below the important 3.000% yield. There is not a one-to-one relationship between the 10 year note and mortgage rates as mortgage rates are set by the prices of long term bonds known as mortgage backed securities. But the 3.000% yield mark on the 10Y note is widely seen as a support level for most long term trades. And since it has held all week, MBS and rates moved sideways.

Article By: Sigma Research and provided by TBWS Rate Alert on 1/06/2014

HARP 2.0 has been extended to December 31st 2015. With rates still at historic lows, now is the best time to check into refinancing if you, your friends or family have not done so already. I truly care about each of my clients and I promise to dedicate as much time and help as is needed to each person that inquires about refinancing through a referral from a client. 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 Ext. 101 GA

850-518-1200 Ext. 101 FL

404-218-6210 Mobile

joe@1stRateMtg.com

www.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.

A Mortgage Licensee in the following states: FL & GA