Rates Are Heading Down...AGAIN!!

[Mortgage Hunter]

Mortgage News - RATES EXTREMELY LOW!

It looks like we are heading in the downward direction again on the rate front!

Speculation that the Feds are looking to pump another $35B+ into the Mortgage Back Securities (MBS) Market, along with the grim Unemployment and Manufacturing numbers have sent rates tumbling.  As a result, the 30 year fixed rate has been bouncing between a low of 4.625% to a high of 4.875%...WOW!!!

Maybe even more interesting- as of noon yesterday the 10 Year Bond has dropped to an extremely low 3.21%.  The yield curve is now favoring mid-term ARM products as a result.  5/1 ARM pricing is currently in the mid 3% range.  The 7/1 is below 4%!! This is especially good news for first time home buyers who will likely sell the homes they buy today within 5-7 years.

This recent rate drop should help encourage those borrowers who still haven’t taken advantage of the 2009 tax credit of up to $8,000, set to expire on November 30th, as well as helping those borrows who are coming off of an adjustable rate mortgage and want the security of a low fixed rate mortgage.

Borrower’s have exactly two months (with certainty) to take advantage of the $8,000 First Time Homebuyer tax credit.  Everyone is wondering whether the government will extend the credit beyond November 30th.  The Kiplinger Report this week predicted it will be extended for 6 months with no changes to its current terms.  That said, we are expecting a very last minute decision thus giving buyers no choice but to assume it won’t get extended. 

As always, I welcome the opportunity to answer any questions you may have.  Feel free to call me any time at...Toll Free 866.280.3899.

Thanks!

Erik Reault

Additional Contact Information....

[gasman]

Any referances from anyone on this site about Mortgage Hunter.
 

Just looking for some one that has used him and would recomend him.
I am just very carefull, i have been screwed by a broker before and look for referances.

Any one here on the HW site able t give referance?

[Mortgage Hunter]

Any referances from anyone on this site about Mortgage Hunter.
 

Just looking for some one that has used him and would recomend him.
I am just very carefull, i have been screwed by a broker before and look for referances.

Any one here on the HW site able t give referance?

Gasman,

Here are few testimonials from some of the Hunt-Wa Members...

"You must get a hold of Erik Reault of Mortgage Hunter. He is an awesome guy to work with and will bend over backwards to get you into a good loan. He will give you good advice as to whether or not a Refi makes sense in your situation. Give him a call or PM him. He is a member of this site. I ended up with an awesome loan, I cant be more happy"

- Charlie Smith (bucklucky)

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Just purchased my first house. I used the mortgage hunter and let me tell ya it was fast and easy!! I felt he bent over backwards to help me!!! I spent hours on the phone with him while he explained things to me about buying a new home and a few more hours talking about hunting!! Check him out he is a site sponsor. Thanks again Mortgage Hunter!!"
 

- Brian (bigbuckdown)

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"While going through the process of choosing a mortgage broker to assist us in our home refinance Erik made us feel very comfortable with the process by sharing his knowledge and understanding of the market trends. Not only did Erik help us lock in at an incredibly low rate but the whole process happened effortlessly on our end and the transaction was complete before we knew it. Thanks to Erik and his team for a great banking experience."

- Dale (searchnfor)

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A once in a lifetime experience
"My wife and I had decided that enough was enough, living in rental property’s where the landlords did not seem to care that we were living there. From leaking roofs, to front doors that would not stay closed, which is not good in the winter.  So, in the winter of 2007, we met Erik Reault, of Mortgage Hunter Financial Outfitters at the Puyallup Sportsman’s Show. After calling him, and having him review our finances, Erik’s advice was simple and clear....."You're not ready to buy...yet".   Strange advice from a mortgage provider?....No, it was the right advice, and that is what you will get from Erik. By waiting that year, we had more expenses paid off; no credit cards bills, and were in a much better position to handle a mortgage. Throughout the year, Erik kept in touch from time to time, seeing how we were moving forward on our dreams.  Finally in the spring of 2009 we were ready! I t was time to start our much waited for home search.  Erik’s advice on what to look for in a realtor, what to be prepared for, and what documents to keep, lead us to the door of our first home. It was the house we wanted, the price we could afford, and with pre-approval, we knew it could be ours. Cobalt mortgage (Mortgage Hunter's parent company) was able to keep up with our fast pace, as we wanted out of the leaking rental, and into our dream home. Within 30 days we were done, keys in hand, and home. Thank you Erik Reault and Mortgage Hunter!"

- Scott & Michelle Nelson

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Let me know if I can provide any additional information.  I understand where your coming from...If I was screwed over, I'd be a bit gun shy too.  Look at it this way...I am probably the only Mortgage Banker with a clientele full of gun enthusiasts, who that could literally shoot me if I screw them over!   

[Little Dave]

Yeah, do it if the numbers are right for your situation.  He did a great job.  Low rate, better cash flow.  Watched the numbers for quite a while before he found one that exceeded my requirements. 

Gal at the desk said, "You must be one of Erik's customers."  When I walked into their office.  Something I wore? 

[Mortgage Hunter]

Gal at the desk said, "You must be one of Erik's customers."  When I walked into their office.  Something I wore? 

I'm the only one in the building with offices decorated in taxidermy, and who wears camo.  So, when another guy wearing camo walks into the lobby....9 outta 10 times they're here to see me.  I love that! 

Be proud of your camo, Dave!  Because, I'm proud to have the only clientele that wears camo just like me!  

[Ireland Farms]

I'll give you a call one of these days. Maybe I can get a better rate with one of my three home mortgages. I'd like some cash back too. I need a barn or shop!

[Crunchy]

Whats the rate on a 15 year fixed look like?

[Mortgage Hunter]

As of today at 2:00 pm...

Asking what the rate looks like on 15 yr fixed without any additional information, is a little tough to accuratly respond to with anything other tha...THEY ARE GREAT!  And, the same can be said for the 30 yr fixed....THESE RATES ARE GREAT!

I'm not trying to be evasive, but there's about 26 factors that determine what rate you qualify for.  Assuming it's a low ltv loan, you have good credit, and you are simply doing a rate & term refi of your current loan, etc......a 15 yr fixed is pricing out at 4.125%
(And no....with me you don't pay any points to buy down to that rate)  Oviously,things like credit score, loan to value, etc. can cause this rate change...both up or down.  When it comes to rates, I'm typically an 1/8 to 1/4 lower than my competition.
As you can see, I put a time stamp on that rate.  The markets are unbelievably volitile, and rates can change instantly. 

If you want to give me a call or shoot me a PM, I'd be more than happy chat with you about you're individual scenario and run you some number.  As always, I don't charge anything unless you do a loan....talking, running numbers, and asking questions is free. 

I really encourage you guys to take me up on that offer....you'll never save money if you don't explore your options.