Really-how is the market?
Were all hearing the Doom and Gloom in the market these days. It’s all over the media and in every newspaper you read. I thought I would share some good news and hopefully provide a brighter side to what we’re seeing. Currently interest rates are at the lowest they have been in over 30 years and the banks are keeping up with the high volume of refinances. With so much talk about banks not lending money the market is actually doing the complete opposite. The only thing the banks have really tightened up are the guidelines for qualifying. Truthfully we all needed this. If the banks would have continued to lend based on their “relaxed” guidelines we would be seeing double the amount of foreclosures which would in turn bring our market values down even more on our homes. It’s going to take a little while for the market to correct itself, but we have been headed in the right direction for several months now. There’s going to be a bottom before we climb again, but the analyst are saying we are either there or nearing it quickly. The good thing about this is if we can keep it together while the economy is slumping we will all be that much stronger coming out of it. If you have not refinanced your mortgage yet give me a call and let’s see if it would benefit you to do so. There’s no cost to apply and review your current mortgage. Maybe I can help you start your climb out of this.If you have a mortgage that is at a 6.00% or higher interest rate it might be time for you to refinance. Please contact Mike for a free analysis. Most customers are saving over $100 per month by reducing their interest rates!
Any Question Call:
Mike Spiegel
Loan Officer
Franklin American
Mortgage Company
Mobile: (317) 437-5182
