Prosperity's News You Can Use
January 16, 2015
Bettering Our Business: Welcome 2015!
There are some HUGE opportunities out there right now that you and your clients need to be aware of:
- Reduced FHA Annual Premiums
- Lower down payments on Conventional loans
- 80/10/10 piggy back loans making a comeback
- Reduced Fico’s on FHA transactions
- VA Incentives for military families (exclusive to PHM)
- Attractive jumbo products up to 85% and even 90% LTV
- Expanded bond offerings and Mortgage Credit Certificates in many states
- And don’t forget some of our great tools:
- Buyer Advantage
- 5&5% Advantage
Loan Calculators on our state of the art websites and mobile websites
Please don't hestitate to drop by the office and find out more!
Interest Rates
Weekly Market Update
Mortgage bond prices finished the week lower which pushed rates a little higher. Rates were neutral the beginning of the week tied to continued economic woes in the euro zone.
Unfortunately, stronger than expected Consumer Confidence data Tuesday resulted in rate increases. Consumer confidence came in at 94.5 versus the 87 mark. Rates remained under pressure Wednesday in response to the Fed meeting. The Fed kept rates unchanged, ended their bond buying program this month, and said the data would dictate the future.
Mixed data the remainder of the week resulted in some volatility but within a narrow range. Weekly jobless claims came in at 287k versus the expected 283k. Q3 Advance GDP rose 3.5% versus the expected 3% increase. Mortgage interest rates finished the week worse by approximately 1/8 to 1/4 of a discount point.
Contact Me
All first mortgage products are provided by Prosperity Home Mortgage, LLC. (877) 275-1762. Prosperity Home Mortgage, LLC products may not be available in all areas. Licensed by the NJ Department of Banking and Insurance. Also licensed in Delaware, District of Columbia, Maryland, North Carolina, Pennsylvania, South Carolina, Virginia, and West Virginia.
NMLS ID #75164 (NMLS Consumer Access at http://www.nmlsconsumeraccess.org/)
©2014 Prosperity Home Mortgage, LLC. All Rights Reserved.
Article found at Realtor.org
Email: Jonathan.Haug@PHMloans.com
Website: jonathanhaug.phmloans.com
Location: 317 30th Street, Virginia Beach, Virginia, United States
Phone: (757)374-1541