We're Not Talking Peanuts Folks!!

Its a beautiful Spring day out there! Hope that the weather stays nice like this for my son's graduation party.

Rates haven't done much since last post - mostly fluctuating betweent that 6 - 6.5% mark.

Next week many of you will be getting my periodic newsletter and this month is a real 'humdinger'. I have a promotion that I will reval. It will be, by far, the Biggest, Baddest, Giveaway that I've ever announced, so you will definately want to stay tuned. As you will see in my newsletter - "we're not talking about peanuts folks!"

OH, by the way - I'm also meeting with one of the Michigan State Housing Development Authority (MSHDA) Representatives next week to do a one on one review of the recent Home Loan Rescue Program, so if you know of someone that could use help on their mortgage I will have more resources to help them. I'll keep you posted. - Jon

Vanished!!

I can't believe that my last entry was March 6th!! Sorry - I bet that you thought that I had vanished...nope....still here trying to read thru and sort out all of the changes that are occurring!

I just wanted to give you a quick update on the rates - in general over the last month the rates have been oscilating between 6 - 6.50%. NOW, please let me disclose that this is the BASE rate - one of the biggest changes to take place in the mortgage industry is the addition of what are called "delivery fees" - what this means is that there is an adjustment made on the rate or fee structure of your mortgage for EVERYTHING from credit scores, to the type of loan, to your loan to value.

Certainly isn't making anything easier in the lending world.

The recent Fed rate cut didn't do much for mortgage rates, other than try to provide more liquidity to the credit markets - in other words, keep things from getting worse.

I will continue to keep you posted and for those of you on the Rate Watch Monitor, I will most certainly make you aware of advantageous drops in the rate when or if they occur.