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

By
Mortgage Banker 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

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  1. Kevin & Maryellen Garasky 03/12/2009 11:41 PM
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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

Rainmaker
162,395
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
333,401
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
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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
298,923
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
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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
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Mike Jones

Mike Jones NMLS 223495
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