Mortgage Blog

All my lenders still are lending and with the latest economic news rates dropped today (10/20/2008)! 

Big news in the financial markets is that PIMCO has increased it's MBS (Mortgage Backed Securities) inventory to its highest level since 2000.  This morning's credit market data is showing tight credit markets are beginning to ease as confidence is slowly being restored in the global financial system.

The good news continues with Colorado (Greater Denver) real estate inventory slowly decreasing, average home prices are lower than last year providing buyers opportunities and Colorado showing more improvement in national home price index. 

Whether you are thinking about refinancing or purchasing now is a great time to get an Annual Mortgage Review.  This will allow you to get an objective assessment of your current situation and how it relates to the market.

Don't forget the First Time Homebuyers Tax Credit as provided in the recent passage of HR 3221.  The definition of First Time Homebuyer is anyone who has not owned a primary residence in the last 3 years.  So friends, family and coworkers who for whatever reason fall into this definition should be aware of this great opportunity.  Email me and I will send you a summary of the particulars of this tax credit.

In summary, yes these are volatile financial times but not without opportunities!