The Stock Market's Up Significantly and Interest Rates Are Improving! 03-12-2009

By
Mortgage and Lending with SUNSTREET MORTGAGE, LLC (BK-0907366, NMLS 145171)

Remember when these were all you had to call home when you were on the road?  So do I, and interest rates are lower now than they were back when these were being phased out for touch-tone payphones.

The stock market improved today by more than 200 points.  Interest rates dropped.  Rates are loosely tied to what happens in the bond market.  What happened today is contrary to what usually happens.  Bonds and stocks usually move in opposite directions. 

You don't care why.  Take advantage of it.  If you're looking for a mortgage of any kind, 30 year fixed rates for the best borrowers (good credit, W2 wage earner) are back below 5%, with APRs in the low 5s, depending on your loan adjustments.

Okay.  You're the one person who actually wants to know why.  I'll tell you.  Today's auction by the Federal Reserve of $11 billion in 30 year bonds was mobbed.  Demand was high, so rates fell.  Buyers included foreign central banks buying through investor groups.

The point is, cheap money is available for purchase and refinance.  Call me, and let's talk.

I'm Mike in Tucson, your preferred Tucson, AZ Mortgage lender.
Mike Jones (Tucson Mortgage Company, LLC): Loan Officer in Tucson, Pima County, Arizona
Think of me as your Tucson mortgage expert.  I only loan in Arizona.

Call me if I can help you with a purchase or refi mortgage;
(520) 349-9090

close

Re-Bloggged 1 time:

Re-Blogged By Re-Blogged At
  1. Kevin & Maryellen Garasky 03/12/2009 11:41 PM
Spam prevention

Accessibility option: listen to a question and answer it!

To submit the form,
drag the robot to the circle on the side.

Type below the answer to what you hear. Numbers or words, lowercase:

Topic:
Lending / Financial
Groups:
Realtors®
Realtors Needing the services of the Lending Powers
The Art Of Marketing You
The Economics of Real Estate
Tucson Real Estate
Tags:
lowest interest rates
tucson mortgage
refinance tucson
arizona loans

Comments 15 New Comment

Show All Comments
Rainmaker
638,392
Fran Gaspari
"The Title Man" - Title Insurance - PA & NJ
Patriot Land Transfer, Inc.

Mike,

Isn't it about time we hear some 'good news' on the economic front...!!! Thanks,   Fran

March 12, 2009 03:21 PM
Ambassador
716,652
Mike Jones
Mike Jones NMLS 223495
SUNSTREET MORTGAGE, LLC (BK-0907366, NMLS 145171)

Fran,

It really is some good news.  The market was actually up about 240 points at the end of the day, and rates are down again!  Thanks for being the first to comment.

Mike in Tucson

March 12, 2009 03:58 PM
Rainmaker
362,135
Susie Blackmon
Ocala, Horses, Western Wear, Horse Farms, Marketing

Hi Mike, I'm more interested in website stuff these days. Pretty boring writing about RE for me right now. This too shall pass.

March 12, 2009 06:40 PM
Rainmaker
1,103,039
Myrl Jeffcoat
Greater Sacramento Real Estate Agent
GreatWest Realty

Mike - Having sunny days, and 3 days of improvement on the Dow, is enough to buoy spirits, that's for certain!  Citibank seems to be healing, and things at GM apparently aren't quite as dire.

March 12, 2009 07:54 PM
Rainer
38,644
Kevin & Maryellen Garasky
KMG Mortgage Group - ID & WA
KMG Mortgage Group - Kevin & Maryellen, Idaho & Washington

Mike,

Why was this not a featured post?  Urgh...  Good news and it doesn't make it to the front page of AR.  "Waiter, please, I'd like to complain..."

I'm flagging!  And, re-blogging!!!

Maryellen

March 12, 2009 11:34 PM
Rainmaker
506,634
Ann Heitland
Flagstaff Real Estate - Associate Broker, GRI, CRS
RE/MAX Peak Properties

Good news. Thanks for coming back on Surprise!

March 13, 2009 12:06 AM
Ambassador
716,652
Mike Jones
Mike Jones NMLS 223495
SUNSTREET MORTGAGE, LLC (BK-0907366, NMLS 145171)

Ann,

You're welcome!  It's good to see you.

Maryellen,

Thanks for the encouragement and the ReBlog!

Myrl,

I took two new applications today.  I'm smiling in sunshine!

Susie,

Thanks for stopping by; I hope you're continuing to do well.

Mike in Tucson

March 13, 2009 12:12 AM
Rainmaker
506,634
Ann Heitland
Flagstaff Real Estate - Associate Broker, GRI, CRS
RE/MAX Peak Properties

Mike, I just "reblogged" you to my other blog: http://blog.bestflagstaffhomes.com/public/item/228561

March 13, 2009 12:22 AM
Rainmaker
1,588,709
Dorie Dillard
Realtor-Canyon Creek- NW, Austin TX Homes For Sale
Coldwell Banker United Realtors

Mike,

Thanks for the easy to understand explanation..Good news!!!

March 13, 2009 07:00 AM
Ambassador
716,652
Mike Jones
Mike Jones NMLS 223495
SUNSTREET MORTGAGE, LLC (BK-0907366, NMLS 145171)

Dorie,

You're welcome.  I wish you much success today.  Right now.  This weekend.

Ann,

Thanks for ReBlogging!  You're the best!

Mike in Tucson

March 13, 2009 07:43 AM
Rainmaker
163,409
Kate Ford
Ask Kate a mortgage question...
Get-Your-Best-Mortgage-Rate.com

Mike, Encouraging indicators, just like Spring, are coming out of hiding, if you allow yourself to look for them. Thanks for sharing. What a great way to bring in the week-end.

  • and yes, I used to keep a pile of change in my car to get underwriter status while I was out in the field. kate
March 13, 2009 01:54 PM
Rainmaker
334,260
Matt Listro
Your Credit Repair Expert
National Credit Fixers - Matt Listro

Hi Mike: We are starting to see a good spring market here too!

:)

March 13, 2009 05:47 PM
Ambassador
716,652
Mike Jones
Mike Jones NMLS 223495
SUNSTREET MORTGAGE, LLC (BK-0907366, NMLS 145171)

Matt,

I'm glad to hear it!  Thanks for commenting.

Kate,

That's funny about the change.  So you remember what that rotary dial payphone looked like!

Mike in Tucson

March 13, 2009 06:41 PM
Rainmaker
308,123
Karen Pierce
Karen Pierce | Housing Counselor |Oregon

Mike - This is great news. And I, too, remember calling in on these phones, as well as my first cell phone that I carted around in a 6"x12" case that weighed a TON.

March 15, 2009 08:49 AM
Ambassador
716,652
Mike Jones
Mike Jones NMLS 223495
SUNSTREET MORTGAGE, LLC (BK-0907366, NMLS 145171)

Karen,

My first car phone had a unit in the trunk, and it was hardwired.  Look at us, trading "old" stories!  LOL

Mike in Tucson

March 15, 2009 11:24 PM
Show All Comments
Ambassador
716,652

Mike Jones

Mike Jones NMLS 223495
Ask me a question
*
*
*
Spam prevention

Accessibility option: listen to a question and answer it!

To submit the form,
drag the clock to the circle on the side.

Type below the answer to what you hear. Numbers or words, lowercase:

Additional Information