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Say "good-bye" to 30 year fixed rates under 6%. We won't see those again anytime soon.
The forecast for the remainder of 2008 is for gradually rising mortgage rates.
Some big news from me next week. Stay tuned. If you've ever wondered how you can learn to make money in the stock market like a pro the answer to that exciting question is coming. You won't find anything like what a partner and I are launching next week.
Brett
As the real estate market & the mortgage industry have the feel of ghost towns lately there's not much to report on a day to day basis anymore.
My prediction for rising mortgage rates for the remainder of 2008 seems to still be our best guess on the near future.
Underwriting guidelines continue to tighten, lenders continue to eliminate loan programs, home equity loan programs are getting very difficult to find, and it just seems like very few people are eager home buyers these days.
My level of production is at the slowest pace in 10 years. That's given me a LOT of time and I've been busy. At what? Well, check back with me on June 6th and you'll find out.
If you like making money, you are going to be intriqued by the new venture.
Not too much to report regarding mortgage rates lately and the next 12 months will likely have slightly higher mortgage rates. Until some future certainty returns to the mortgage-backed securities marketplace I don't see any other plausible outcome.
Underwriting guidelines continue to tighten while property values feel downward pressure. The bottom line, there are less potential real estate financing options available than there have been for at least 7 years.
For those of you that seek ways to make money, I have some exciting news to share with you. However, I can't give you the official word until June 6th.
Stand by....
BG
