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Mortgage Update:
Mortgage Rates to Rise in 2010
As much as I hate to say it, I believe that the days of rates in the 4% range are soon to be over. The only reason that rates have been this low is because the Fed has been artifically keeping rates low in order to stimulate the economy. The results have been dubious at best. While we are seeing decent mortgage business with 1st time home buyers and refinances, it is not sustainable and does not seem to be really turning the economy.
At this point, the Fed is indicating that they will stop buying Mortgage Backed Securities in bulk in April, although there is talk of them expanding the program due to the economy. The problem is that until the private sector starts buying Mortgaged Backed Securities we won't see any real recovery in the mortgage industry. However, the private sector is running scared due to over regulation of our industry AND more importantly, the Secondary Market does not get excited about 4%-5% Interest Rates on 30 year Bonds. Until rates increase to a normal range of 5.5% to 6.5%, I really do not expect the private sector to get that excited about mortgages.
So, if you are looking at purchasing or refinancing this year, call me now.
I hope that this year is a great one for you!!
Larry
The Real Estate Market Minute:
Money 101 Lesson: Top Things to Know When Buying a Home in 2010
Today’s housing market offers opportunities, pitfalls, and confusing situations. For example, home prices on average may be the most affordable they’ve been in twenty years, according to experts; but placing the right value on a home can be difficult, given the high rate of foreclosures on the market and other variables. Here's what you need to know.
Click Here to Read the Full Article by CNNMoney.com
If you're considering a Home Purchase then now is the time to take action! Check out the "Resource Center" in the left-hand column of this newsletter for an interactive online tool that can help answer just about any mortgage or real estate related question.
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Brian Tracy Inspirational Article of the Month:
Planning Your Year
Brian Tracy is a world-renowned personal and professional development coach that has helped millions of people achieve their goals and develop a positive mindset. Brian will be contributing to our newsletter every month by providing us with an article to help inspire you, our clients, to reach higher and achieve more than ever before.
Interesting Articles of the Month:
New Years Drunks Should Pay for Hospital Care?
Excessive drinking over New Year's Eve could cost Britain's National Health Service as much as 23 million pounds, according to a report on Thursday which recommends drunks be charged a hospital admission fee of 532 pounds ($845.90).
Report: Dementia Could Cost Canada $1 Trillion
Canadians are developing dementia at such a rapid rate that dealing with the problem will cost a total of more than C$870 billion ($830 billion) over the next 30 years unless preventive measures are taken.
Meddling in Mosquitoes' Sex Life Could Cut Malaria
A study on the species of mosquito mainly responsible for malaria transmission in Africa showed that because these mosquitoes mate only once in their lives, meddling with that process could dramatically cut their numbers.
Click Here to Read the Full Article by Reuters.com
Anti-Hunger Smells Could Battle Obesity
Anti-hunger aromas that make one feel full could help fight the global obesity epidemic, scientists now suggest.
YouTube.com Video of the Month:
Best Fails of 2009 – You’ll Laugh and Cringe!
2009 was full of fun, excitement, and for some people, a whole lot of pain and embarrassment. Nobody was seriously injured in the following clips, but some of them will definitely make you squirm. Enjoy the following video and be sure to forward to family, friends, and co-workers!
Delicious Recipe of the Month:
Healthy Cooking for 2010 - Chile Garlic BBQ Salmon
BBQ salmon with a spicy Asian-style twist! This fresh and healthy salmon recipe doesn’t take a lot of time or effort, but will deliver huge taste! Be sure to share with family, friends, and co-workers!
Click Here for the Full Recipe by Allrecipes.com
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Dumb Criminal Video of the Month:
Booze and Burglary = Bad Idea!
To say this dumb criminal is struggling in his endeavor is a massive understatement. He makes his way into the store, but making his way back out is a whole different story. Be sure to share with family, friends, and co-workers!
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