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Posts Tagged ‘interest rates’

Update on Interest Rates! Rates continue to fluctuate

Posted by spencerjanke on March 4, 2010

Weekly national mortgage survey

Interest Rates went down a little again this week. After jumping a little at the end of last week. In the last couple of days we are seeing  a huge surge of Refi applications throughout the United States. As buyers and home owners prepare for higher interest rates in the months ahead.

Apparently everyone is heeding my warnings, and have finally realized these rates are a very short term situation. Consumers are preparing for rates to jump back up to what they need to be. It is going to be intersting to see how this shakes out in the economy. I keep having this discussion with many other professionals, and it shocks me to hear the many different opinions. I mean, really? How can you not see that rates can not stay as low as they are currently? With inflation looming over our heads, if we don’t do something things could get a lot worse really fast. Lets just cross our fingers and pray at this point :)..

And if you are in the market and want to take advantage of a great deal, and an incredible interest Rate In UTAH, check out the new Bank Foreclosure site for UTAH

Bank Foreclosures in UTAH


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Mortgage Rates Climb this week! Interest rates went up this week…

Posted by spencerjanke on February 25, 2010

Ok, so I hate to say I told you so. But, I TOLD YOU SO!!! Interest rates climbed 4 basis points this week. Making the average on a 30 year fixed mortgage 5.15% . So all of you who have been saying, “no, interest rates won’t rise.” You were wrong. Last week, I took a lot of flack for saying when the fed raised the bank rate, that interest rates would immediately follow. I was schooled by a few professionals who informed me the bank rate has nothing to do with consumer rates? Duh, I know exactly what the bank rate is. And I also am a fan of history. So if you look back consumer interest rates always go up after the bank rate goes up.

Interest Rates are on the RISE

So, I am now writing this post to say I told you so.. We all knew interest rates wouldn’t stay as low as they have been forever right? I mean the whole inflation aspect which I don’t even want to get into is another issue. But, people need to realize at some point we are going to start having to pay for all the spending we are doing as a country. One of those ways is by raising rates. Companies will make more money, they can pay more taxes. It is a gigantic cyle, what goes up must go down. Now the thing the media doesn’t want to tell you , because they love to instill fear the society. What goes down, must go up! So, once again I am going to take the standpoint of we are in for a pretty rock road for the next 6 months. But then, I am going to go out on a limb and say we will see an uptick.. Just my opinion.

Now, really fast we need to express the interest rate situation.

  1. Interest Rate went up this week
  2. Interest Rate’s are going to keep going up.. How much? I would say a full point. I wouldn’t be surprised to see interest Rates in the 6% range this summer
  3. Tax incentives are up in April…
  4. Home values for affordable housing are at their low in majority of locations.
  5. Act now, or you will be upset in 6 months, and I will be telling you I told you so again..

I would love to hear your opinion about Interest Rates, so comment email or whatever..

Also if you are looking for a great deal in Utah.. Check out the free list of Bank foreclosures in UTAH

Bank Foreclosure in UTAH

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Fed Raises Bank rate.. Will interest rates follow? INTEREST RATES ON THE RISE?

Posted by UtahCribs, Real Estate, Homes on February 19, 2010

So I am sure many of you have heard the news. The fed announced this morning they are raising the Bank Rate. IF you would like more info on what does that mean, check out this site

What is the Bank Rate?

Do I agree with this article compeltely? No, I don’t. I think just the opposite, I think this means we can expect the Consumer Rate, or interest Rates to follow in the footsteps of the bank rate. The fed also announced they are going to discontinue the purchase of mortgage backed securities. What do you think that is going to do to the market? Don’t you think that will effect the bond market? In turn interest rates will go up..

Interest Rate are on the Rise!

So many people are trying to interpret what this means? Well I am obviously a part of that crowd, but I think in more realistic terms. It is reality they will go up, its just a matter of time.

So for you first time home buyers, take advantage of it now, get a low interest rate, get a tax credit, take advantage of the gluttony of homes on the market…

Utah Bank Foreclosures

Posted in Economy Update. | Tagged: , | 1 Comment »

Your Credit Score effects your Interest Rate.. News on Current Interest Rates

Posted by UtahCribs, Real Estate, Homes on February 17, 2010

When it comes to interest rates, one of the biggest questions I get from buyers (First Time Home Buyers), is what effects the interest rate a bank will give me? Great questions, banks look at several different factors when determining someone’s elegibility to receive a loan.

One of the biggest factors is your Credit Score.

Credit score and interest rates..

If you have a credit score under 620, good luck getting a loan. And if you get a loan, your interest rate will be a lot higher than the average..Your DTI will be the next factor in getting a loan. DTI? Debt to Income Ratio. This means, how much debt do you have and are obligated to pay on in relation to how much money you make.

Another factor is job history, if you are someone who changes jobs often and has not been with one employer for a significant amount of time. Most banks will look at you as a risky buyer. There are many other factors effecting the loan approval process, if you would like more information please let me know..

Posted in Real Estate Deals | Tagged: , | 1 Comment »

Mortgage Interest Rates climb.. Interest Rates rose today..

Posted by UtahCribs, Real Estate, Homes on February 4, 2010

If you are contemplating buying a home in 2010 you have a lot more to worry about than just rising interest rates. Yes interes rates are going up, however there are all sorts of other reasons to act now.

Buy a home in 2010 before interest rate go up

There are 4 main reason’s to get out and buy a home today.

1-Fed Deadline -Fed says it is going to stop buying mortgage backed securities by march..
2-FHA Premium Increase – FHA premiums are going up to 2.25 % of the purchase price of your loan.
3-Home Buyer Tax Credits – In may the Tax credit incentives are going to expire
4- Interest Rates.- Interest rates have been consistently going up.

Interest Rate Updates

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Interest Rate News. Interest rate predictions.. Up to date news about Interest rates

Posted by UtahCribs, Real Estate, Homes on February 2, 2010

So we all have been watching with intensity about the debacle over interest rates. I am going to try and continue to keep people informed on what is happening with interst rates on a daily basis. You see so many different opinions it is hard to decipher what is really going on.. Not to mention, reading these articles at times makes you feel you need to go back to college, or get out a dictionary to help you know what you just read. So if you have any questions about interest rates, and what will happend to interest rates give me a ring, you can call or email me any time.. Spencer Janke 801-671-7877 spencer@utahcribs.com

Interest rate predictions for 2010

This article is great for prediction in the near future.. The big discrepency between when they will rise is at the center of the debat. But everyone is in agreement that they will go up… Just a matter of when..

Another great article to read, and for that matter a website to continue to check on what is happending is bankrate.com

Check out bankrate.com

This is a great website to breakdown the daily news of the market. It has really helped me understand the news we are hearing.. Hope this helped..

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