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The new 2009 higher loan limits with loans up to $729,900 in some County's is available today. Call for your County's limit.

HARP: Home affordable refinance program is available with loan's up to 105% loan to value. Call for details.

Today's credit markets are challenging with new regulations being implemented by Congress and the Feds. Sometimes you just need information. We are here to answer your questions and walk you through the process.

Refinance Options:

Refinance loans can be used to help with many personal financial situations such as reducing monthly payments, home improvements, college tuition and more. Call today to learn more.

Purchase:

Whether you are a first time home buyer or trading up to a larger home, our sales experts work to find the best home loan solution for you. With products for new home purchases as well as second, vacation, and investment homes, we can help.

Why Us?

We offer competitive mortgage rates and our lenders reward you even more if your credit score is 720 or higher and you have at least 40% equity in your home. Contact us for information. Our goal is to save you money.

Market Commentary

Mortgage bond prices rose last week pushing mortgage interest rates lower. Mixed data resulted in up and down trading but within a relatively narrow range. Things were going well the first part of the week with rates improving until Wednesday when the consumer price index and the core came in higher than expected. Inflation, real or perceived, erodes the value of fixed income investments causing prices to fall and rates to rise. We saw some of that mid-week. Despite this, interest rates finished the week improved by about 1/8 to 1/4 of a discount point.

The US Treasury will continue the record Treasury auctions with a $44 billion 2-year note auction Monday, $42 billion 5-year note auction Tuesday, and a $45 billion 7-year note auction Wednesday. The bond market will be closed Thursday for Thanksgiving and will have a shortened trading session Friday.

LOOKING AHEAD

Economic
Indicator

Release
Date & Time

Consensus
Estimate


Analysis

Existing Home Sales

Monday, Nov. 23,
10:00 am, et

Down 0.5%

Low importance. An indication of mortgage credit demand. A significant decrease may lead to lower rates.
Preliminary 3Q GDP

Tuesday, Nov. 24,
8:30 am, et

Up 3.0%

Very important. The aggregate measure of US economic production. Weakness may lead to lower rates.
Consumer Confidence

Tuesday, Nov. 24,
10:00 am, et

47.5

Important. An indication of consumers’ willingness to spend. Weakness may lead to lower mortgage rates.
Personal Income and Outlays

Wednesday, Nov. 25,
8:30 am, et

Up 0.2%,
Up 0.5%

Important. A measure of consumers’ ability to spend. Weakness may lead to lower mortgage rates.
PCE Core Inflation

Wednesday, Nov. 25,
8:30 am, et

Up 0.1% Important. A measure of price increases for all domestic personal consumption. Weakness may help rates improve.
Durable Goods Orders

Wednesday, Nov. 25,
8:30 am, et

Up 0.5% Important. An indication of the demand for "big ticket" items. Weakness may lead to lower rates.
U of Michigan Consumer Sentiment

Wednesday, Nov. 25,
10:00 am, et

66.5

Important. An indication of consumers’ willingness to spend. Weakness may lead to lower mortgage rates.
New Home Sales

Wednesday, Nov. 25,
10:00 am, et

Up 2.9% Important. An indication of economic strength and credit demand. Weakness may lead to lower rates.

Preliminary GDP

The Gross Domestic Product (GDP) is one the most important reports during any given quarter. GDP is a measure of US economic output and spending. The report is significant in that it provides investors, analysts, traders, and economists with a comprehensive report of the direction of the economy. In addition, it also influences the decisions of Federal Reserve policy makers, Congressional budget employees, and corporate financial planners.

GDP is the sum total of goods and services produced by the United States. The initial report is often based on incomplete data. Therefore, additional revisions are released over the following two months. There are often substantial differences between the initial release and the revisions. The mortgage-backed security market generally responds favorably to weaker GDP growth. The preliminary third quarter gross domestic product data this week has the potential to move mortgage interest rates. Be cautious.

Copyright 2009. All Rights Reserved. Mortgage Market Information Services, Inc. www.ratelink.com The information contained herein is believed to be accurate, however no representation or warranties are written or implied.


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Today's Rates:

Mtg Loan    Rate  APR
30-yr Fixed4.83%4.99%
15-yr Fixed4.32%4.55%
1-yr Adj4.35%5.4%
* national averages



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