Hello Friends, and a Belated Happy New Year to all of you, Lets begin by offering a moment of thanks to the geography gods that we dont live in Boston or New York today. They are currently experiencing Blizzard Apocalypse 2015. If you know me at all (and most of you do), you know how frustrated I get by snow days and the prospects of having to work from home while all three of my kids laze around the house eating snacks for an indefinite number of days. Rates remain low and fairly similar to my last update. We are still hovering near 20-month lows with 30-year rates in the range of 3.75% and 15-year rates in the low 3%s range. For those wanting a no cost loan, expect rates to be closer to 3.875% or 4% for 30 years, and closer to the mid-3%s for 15 years. With the spring home-buying market right around the corner, and the Housing Affordability Index remaining near historical lows, its a great time for potential buyers to begin having the conversation with a qualified lender (I can recommend a good one!) about getting pre-qualified and developing a purchase range and strategy. Right now is a great time for people with an existing FHA loan to speak to their mortgage lender. FHA recently dropped their version of PMI by .50% for people refinancing or originating a new loan with them. The lower PMI, in addition to taking advantage of todays low rates, could lower some monthly payments by $150 or more. It wont be advantageous for everyone, but some will greatly benefit from doing this. Call or write me if you have questions. Entertainment suggestion: Far be it for me to begin sending people off to the theater, but if you happen to like the music of The Who (or even if you dont), I think many of you would greatly enjoy the production of Tommy (link) thats playing at the Paramount Theater in downtown Aurora. A close relative of mine very graciously offered me tickets to the show because they couldnt attend, and Pam and I and a couple of lucky friends decided to use them this Saturday. First of all, does everyone realize how nice of a venue the Paramount Theater is? I sure didnt. My only other visit there was to see Cats in 1993, and I think that show hurt my eyes too much for me to really notice now nice the Paramount Theater actually is. Second, the show was great and the four of us who attended it highly recommend it. Most of the local media outlets have given it very strong or rave reviews. Its at the Paramount for three more weeks. Go see it and send me your review. If you see it and dislike it, Ill send you a $20 Starbucks card with a heartfelt, handwritten apology. We are quickly approaching that time of year when the real estate buying and borrowing market really begins to percolate. Many of you will run into friends or family in the coming months who are thinking about buying, or wondering if they have enough income to qualify, or if now is a good time....please, let them know that you know a guy named Rob that will consult with them to any degree that they need without any pressure to go through the loan process with me. I will always afford the time to help those people develop a plan. Enjoy the rest of your January, if thats possible. Rob
Posted on: Mon, 26 Jan 2015 21:55:05 +0000
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