Tampa Mortgage News
Tampa Mortgage Rates Report: Fed Cuts To Prompt Lower Mortgage Rates – Will Home Buyers benefit in November?
October 29th, 2008 Categories: Tampa Mortgage News
Will Feds Cut rate cut help Clearwater home buyers get lower Tampa Mortgages in November?
Tampa Florida – Brian Brady, America’s #1 Mortgage Broker, always keeps his pulse on the mortgage market for us. Today he shared how the latest Fed Cuts will effect those planning to buy Clearwater Tampa Homes. Today that “we analyze mortgage rates by examining
the mortgage-backed securities market and its reaction to economic data
and events. Today, the Federal Reserve cut the Fed Funds rate to an
historical low of 1%:
The Fed funds
rate target is now 1%, the lowest level in more than four years. In
announcing its decision, the Federal Open Market Committee cited a drop
in spending by consumers and businesses, and predicted that consumption may slow further due to tighter lending standards.
“The pace of economic activity appears to have slowed markedly,”
the FOMC said in a statement, “owing importantly to a decline in
consumer expenditures.”
Why’s
the economy in the tank? You just aren’t spending enough money, Joe
the Plumber. Of course, you can’t borrow any either so you’re hesitant
about spending. Hence, the Fed cut in rate. Normally, a Fed cut
should be followed by a RISE in mortgage rates but it looks like the
mortgage-backed securities market anticipated the cut a week ago.
Let’s take a look the crystal ball (market chart):
See what’s happening here? Two weeks ago, we had a six day BIG
drop, which caused rates to rise from 5.875% to 6.5%. That drop was
followed by a 5 day rally, which brought rates back down to 5.875%.
Then, we had a six day BIG drop, driving mortgage rates back up to 6.5%
(today)…
…and I think the market overreacted which means I think we’ll see lower mortgage rates into the beginning of November.
What’s this mean for those buying a Home on Tampa Home Mortgages?
This is the kind of volatility we’ve come to expect. Tampa Mortgage rates
should drop to 6.25%, pause, then drop again to the 6% level or below.
No guarantees but November closings should get a peek at 6% or better
rates soon”
Related posts:
Tampa Mortgage News: Tampa Mortgage Rates Report: October 27, 2008
Contact us for a FREE quote and to find out your Tampa Home Mortgage
options or you can search all Tampa homes for sale.
Originally posted on Millionaire Real Estate Lender by Brian Brady, America’s #1 Mortgage Broker
Call Us Today at (727) 710-8036 to hear more about how we can help you!
Copyright © 2008 Jack and Cyndee Haydon, Clearwater REALTORS
and your Clearwater Real Estate Consultants specializing in Clearwater Tampa Real Estate and may not be copied, reproduced, distributed, transmitted, displayed or published.
About Cyndee Haydon
Cyndee Haydon, Realtor with Future Home Realty specializing in luxury waterfront and beach homes of Clearwater Beach - St Pete - Tampa Bay area with her husband and partner, Jack Haydon Cyndee's Google Profile
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Tampa Mortgage News: Tampa Mortgage Rates Report: October 27, 2008
October 27th, 2008 Categories: Tampa Mortgage News
Tampa Mortgage – Home Loan Rates Jumped
Tampa Florida – Friday, Tampa mortgage rates jumped from 5.875% to 6.25% as mortgage-backed securities traders joined the world wide sell-off. Global stock markets plunged Friday and the Asian markets were weak for Monday. Investors world wide don’t want to be invested in ANYTHING.
When the world panics, we FLOAT mortgage rates. So, roll the projectors! The movie “Float Club” is playing all week.
Interestingly enough, gold isn’t skyrocketing in price. Long held as a “safe haven” during times of turmoil, investors are opting to hold their portfolios in cash instead:
Bullion is down 15 percent this month as the dollar climbed to a two-year high against the euro and the Standard & Poor’s 500 Index headed for its steepest monthly loss since 1938.
`We’re seeing some consolidation in the market today as investors pause for breath following the roller-coaster we had last week,” Zhu Lv, research manager at Shanghai Tonglian Futures Co., said from Shanghai today.
Gold for immediate delivery gained as much as 1.7 percent to $746.91 an ounce, and traded at $735.33 at 10:29 a.m. in Singapore. The metal fell below $700 on Oct. 24. Silver for immediate delivery was up 1 percent at $9.4575 an ounce.
Gold still benefits from its safe haven properties, although these days, more and more are choosing to hold just cash instead, so it won’t be surprising to see gold below $700 again,” said Zhu.
What’s this mean if you’re in the Market for a Tampa Mortgage?
What’s that mean to home buyers or property investors looking to get a home loan or mortgage in the Tampa Bay area? It means that while investors are cautious, they aren’t completely terrified and that bodes well for mortgage-backed securities. When investors buy mortgage-backed securities, mortgage rates drop; that’s what we think will happen in the next 7-10 days.
I cautioned borrowers to lock in all October closings last week when mortgage rates dipped below 6%. That opportunity had a short-lived window. Like all panics, reason eventually prevails. Central banks world wide are slashing interest rates to avoid an economic recession. This make US dollar denominated investments, especially mortgage-backed securities more attractive.
Hold out for a Tampa mortgage rate below 6% if you’re closing in November. Contact us for a FREE quote and to find out your Tampa Home Mortgage Options
Originally posted on Millionaire Real Estate Lender by Brian Brady, America’s #1 Mortgage Broker
Call us Today at (727) 710-8036 to hear more about how we can help you!
Copyright © 2008 Jack and Cyndee Haydon, Clearwater REALTORS and your Clearwater Real Estate Consultants specializing in Tampa Bay Real Estate and may not be copied, reproduced, distributed, transmitted, displayed or published.
About Cyndee Haydon
Cyndee Haydon, Realtor with Future Home Realty specializing in luxury waterfront and beach homes of Clearwater Beach - St Pete - Tampa Bay area with her husband and partner, Jack Haydon Cyndee's Google Profile
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Tampa Mortgage News | Buying Clearwater Real Estate Easier with FHA Home Loan Limits Increased
March 11th, 2008 Categories: Tampa Mortgage News
Clearwater Florida – We recently received news that will help the Clearwater Real Estate Market. The President has signed the Economic Stimulus Bill which is important because it raises the existing FHA Loan limits by county so now more Tampa Bay home buyers can benefit from FHA Loans and Clearwater home sellers are happy to hear buying a home just got easier. (Determine your maximum loan limit by referring to the following link to HUD.)
What does this mean to homes buyers today? Well when it comes to Tampa Mortgage news we asked to our Tampa Bay home loan experts to give us there insights on these recent changes.
Buying Clearwater Tampa Bay Property Just Got Easier
Heres what these Tampa Mortgage lenders had to say, ‘Many homebuyers who could not realistically use FHA loans in the past to purchase or refinance Clearwater homes for sale because of the low loan limit can now use the FHA loans for higher loan amounts¦in Pinellas County, this means we can use an FHA loan for Tampa mortgage up to $292,500 on a single family home – which covers many of the homes currently for sale.
What is the benefit of using an FHA loan to buy Clearwater homes or condos?
- Lower down payment on homes – Typical FHA standards say that the borrower must have a 3% down payment on their home. However, with the help of down payment assistance programs, like AmeriDream, borrowers can have that down payment gifted and in turn have a zero down loan.
- Reduced Credit Standards for home buyers – FHA is more lenient on borrowers with limited or bruised credit history, with no true minimum credit requirement.
- Higher LTV allowed on cash-out refinances – Standard conventional guidelines say that a borrower can ‘cash-out’ up to 90% of the value of their home. However, in our declining market environment, that number is reduced by 5%. This is a problem for many homeowners trying to get our of their adjustable rate mortgages. With an FHA loan, a borrower can cash-out up to 95% of their Clearwater florida real estate property value.
Why Tampa Mortage Lenders and REALTORS are Embracing FHA Loans
- FHA has made some significant changes in their underwriting criteria. In the past, FHA inspections were required to make minor repairs for cosmetic defects, or normal wear & tear. Now, FHA has revitalized to a underwriting process much similar to conventional loans, making it easier for those buying proeprty to use and Tampa REALTORS to promote FHA products.
- Now those with homes for sale can offer concessions to the home buyers to help sell their homes – FHA allows the seller to ‘gift’ the 3% down payment through AmeriDream. In addition, the seller can give up to 6% of the sales price to the buyer for closing costs, prepaid expenses and points.
- If you have a home or condo for sale that isnt selling because the home needs some improvements such as new flooring, windows or updated appliances – the new mini FHA rehab program allows buyers to finance as much as $35,000 into the mortgage for minor repairs that would be completed after the sale.’ (Weve used this with pre-foreclosure and bank-owned REO foreclosure homes for sale )
Its easy to see that FHA mortgages are going to be a more popular way to buy a home or condo in the Tampa bay area and is a great option for home purchases or refinances.
Now that you see why purchasing Clearwater Real Estate just got easier, feel free to see all the homes and condos for sale in the Tampa MLS with photos.
If you are a home buyer who has recently been turned down for a conventional Tampa mortgage or home loan or were told that you have to bring more money than you have to closing, call us for the number of several Tampa mortgage lenders who will give you a complimentary consultation to see if this new FHA program is right for you!
Call us Today at (727) 710-8036 to hear more about how we can help you!
Copyright © 2008 Jack and Cyndee Haydon, Clearwater REALTORS and your Clearwater Real Estate Consultants specializing in Tampa Bay Real Estate and may not be copied, reproduced, distributed, transmitted, displayed or published.
About Cyndee Haydon
Cyndee Haydon, Realtor with Future Home Realty specializing in luxury waterfront and beach homes of Clearwater Beach - St Pete - Tampa Bay area with her husband and partner, Jack Haydon Cyndee's Google Profile
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Tampa Home Mortgage Update – When Your Mortgage Broker Can't Deliver – Tampa Mortgage Expert Can!
November 8th, 2007 Categories: Tampa Mortgage News
Tampa Home Mortgage Report Is your Home Loan Going Up in Smoke?
Clearwater Florida – We are seeing the Tampa Mortgage Industry like the rest of the world changing quickly before our eyes and many home buyers or those looking at Clearwater Condos for sale who thought they had a home mortgage in the works these days are finding out they dont.
Imagine my sadness when one of our clients called today just crushed and in a panic they had found their dream home and were in the home loan process and now it was all going up in smoke before their eyes. They wanted to know what they could do now that they had decided to work with a local Tampa Bay mortgage broker they knew (instead of ones we recommended) and they werent going to be able to get them a home mortgage.
I wish I could say this was the first time we have experienced this. When we became Clearwater real estate agents and before we found the best Clearwater mortgage lenders to work with we saw this happen way to often. We were happy to be able to refer them to the Clearwater Tampa home loan experts we know to help them get their Clearwater home loan.
Tampa Mortgage Expert Saves Clearwater Home Loan from Going Up In Smoke
In todays dynamic market, lots of 100% financing and zero down payment loans are getting harder to find and you really should be working with a Tampa direct lender who knows what they CAN do not what they are hoping someone else MAY do. This is one of the top reasons we stress the importance of working with a Tampa Mortgage Expert that is also a Lender, and can fight for you, not just a mortgage broker when you have a choice. In our experience the odds of your home loan actually happening increase significantly.
We have found working with the best Tampa mortgage lenders is a real asset to your home buyers.
Tampa Mortgage / Clearwater Home Loan Consultants Facilitate Families Dreams
Over the last year, we’ve seen the Tampa mortgage consultants we work with work show why they’re the best – they work hard to find out what each family or person needed and then demonstrated their expertise by helping these clients with a wide variety of needs get the best possible mortgage and home loan to purchase their Clearwater condos or homes.
- Veteran get his first home on dry land now that hes no longer living on a navy Ship in an area golf community town home using a VA home loan;
- Several families using the various FHA loans including ones that provide funds for improvements and rehab work on homes;
- Foreign nationals buy luxury Clearwater condos and vacation homes here from Canada; England and more;
- Helped 55+ clients down-sizing get a great loan in the later stages of their home purchasing years (ex. Clients give lender video testimonial);
- Jumbo loan expert which has really helped families needing a jumbo loan when buying a vacation beach home or waterfront condo here and arranged for smooth transactions when they are located in other parts of the country.
Clearwater Real Estate in Tampa Bay
Are you looking to buy Clearwater Homes with a pool or maintenance free Clearwater Condo? Here’s what some of our past clients have to say about how we helped them….
** CLICK ON PHOTOS BELOW TO SEE CLIENT VIDEO TESTIMONIALS **
Home and Condo Buyers tell us that selecting the best Clearwater Real Estate Agent, especially online or from a distance, can be a challenge. Some of our past clients agreed to share their experiences and tell you why they think you should work with us.
Click on the photos below and meet some of our clients and now friends…we’d love to be YOUR choice too! 
Call us Today at (727) 710-8036 to hear more about how we can help you!
Copyright © 2008 Jack and Cyndee Haydon, Clearwater REALTORS and your Clearwater Real Estate Consultants specializing in Tampa Bay Real Estate and may not be copied, reproduced, distributed, transmitted, displayed or published.
About Cyndee Haydon
Cyndee Haydon, Realtor with Future Home Realty specializing in luxury waterfront and beach homes of Clearwater Beach - St Pete - Tampa Bay area with her husband and partner, Jack Haydon Cyndee's Google Profile
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