Brought to you by Todd Abelson and Tyler Ford of Sunstreet Mortgage – Tucson, AZ
Courtesy of Mortgage Success Source, Mortgage Market Guide, Nick Mallory and Dustin Hughes.
This is by far, the single best explanation of HOW mortgage interest rates are determined and WHY they are going up. 7 minutes of EXCELLENT information – do yourself a favor, listen and share this with anyone considering buy a home or refinancing an existing mortgage.
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It’s easy to do, and there’s NO purchase required! All you have to do is complete the following items, and your name will be placed into the drawing, scheduled for Friday, Feb 26, 2010 which we will film and post on our blog.
To have a chance at winning $100 BUCKS please follow the steps below:
First, you must Comment on THIS blog post and then complete 2 of the following 3 items:
In your Comment post, make sure to include your name and reference your Twitter -or- Facebook name (if applicable), or other direct contact information so we can get in touch with you.
The winner to be drawn randomly from the Comment post list on Friday, February 26, 2010.
If you’re in Arizona, we’ll meet with you, capture a brief presentation video and post the interview on this blogsite. Only one entry per person; employees of Sunstreet Mortgage or their families are not eligible – sorry!
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The rally will likely continue into this week, too. This after the 60 Minutes interview with Ben Bernanke in which the Fed Chief said he won’t let big banks fail and that the recovery will likely begin later this year.
It’s the first interview with a sitting Federal Reserve Chairman in history.
Coincidentally, the Federal Reserve will be in the spotlight this week as it concludes a two-day meeting Wednesday after which the Fed will issue its standard, post-meeting press release at 2:15 P.M. Although it’s not expected to make Fed Funds Rate changes, the markets will closely watch the Fed’s language for clues about the next phase of monetary policy.
In general, when the Fed indicates that inflationary pressures may build, mortgage rates rise. Moreover, in the above interview, Bernanke alluded to such inflation and the need to control it in the future.
Despite the small rise in rates last week, mortgage rates remain low and favorable for high-credit scoring borrowers. Volatility is still a factor, however, so if you’re nervous about rates rising, it may be best to lock early in the week — before the Fed’s Wednesday announcement.
4 Minutes Of Guidance For Soon-To-Be Real Estate Investors