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How can you be sure youve got the right mortgage broker as you shop around
First make sure you are working with an experienced professional loan officer. The largest financial transaction of your life is far too important to place into the hands of someone who is not capable of advising you properly and troubleshooting the issues that may arise along the way. But how can you tell
Here are simple questions your lender ABSOLUTELY must be able to answer correctly. If they dont have the answersRUNDONT WALK RUNTO A LENDER THAT DOES
. What are mortgage interest rates based on
The only correct answer is Mortgage Backed Securities or Mortgage Bonds NOT the year Treasury Note. While the year Treasury Note sometimes trends in the same direction as Mortgage Bonds it is not unusual to see them move in completely opposite directions. DO NOT work with a lender who has their eyes on the wrong indicators.
. What is the next Economic Report or event that could cause interest rate movement
A professional lender will have this at their fingertips. For an uptodate calendar of weekly economic reports and events that may cause rates to fluctuate visit www.pdxloan.comeconomicreport and join the weekly distribution list for MMG Weekly this is a copy of a weekly newsletter on current Economic Reports.
. When Bernanke and the Fed change rates what does this mean and what impact does this have on mortgage interest rates
The answer may surprise you. When the Fed makes a move they can change a rate called the Fed Funds Rate or Discount Rate. These are both very shortterm rates that impact credit cards Home Equity credit lines auto loans and the like. On the day of the Fed move Mortgage rates most often will actually move in the opposite direction as the Fed change. This is due to the dynamics within the fi nancial markets in response to infl ation. For more information and explanation visit Google or research online further.
Keyword:
Economic Report Mortgage Broker Mortgage Bonds Mortgage Backed Securities
First make sure you are working with an experienced professional loan officer. The largest financial transaction of your life is far too important to place into the hands of someone who is not capable of advising you properly and troubleshooting the issues that may arise along the way. But how can you tell
Here are simple questions your lender ABSOLUTELY must be able to answer correctly. If they dont have the answersRUNDONT WALK RUNTO A LENDER THAT DOES
. What are mortgage interest rates based on
The only correct answer is Mortgage Backed Securities or Mortgage Bonds NOT the year Treasury Note. While the year Treasury Note sometimes trends in the same direction as Mortgage Bonds it is not unusual to see them move in completely opposite directions. DO NOT work with a lender who has their eyes on the wrong indicators.
. What is the next Economic Report or event that could cause interest rate movement
A professional lender will have this at their fingertips. For an uptodate calendar of weekly economic reports and events that may cause rates to fluctuate visit www.pdxloan.comeconomicreport and join the weekly distribution list for MMG Weekly this is a copy of a weekly newsletter on current Economic Reports.
. When Bernanke and the Fed change rates what does this mean and what impact does this have on mortgage interest rates
The answer may surprise you. When the Fed makes a move they can change a rate called the Fed Funds Rate or Discount Rate. These are both very shortterm rates that impact credit cards Home Equity credit lines auto loans and the like. On the day of the Fed move Mortgage rates most often will actually move in the opposite direction as the Fed change. This is due to the dynamics within the fi nancial markets in response to infl ation. For more information and explanation visit Google or research online further.
Keyword:
Economic Report Mortgage Broker Mortgage Bonds Mortgage Backed Securities