Mortgage rates move higher

The recent election result weighed heavily on the mortgage interest rate market. Surging stock prices and plummeting bond prices dominated headlines.  While Mortgage rates benefit when mortgage bonds move higher, the reverse is true when those prices move lower.

Mortgage rates have continued to move higher in the post-election period, as investors worldwide are looking for increases in growth and inflation, with the 30-year mortgage rate reaching its highest weekly average since the beginning of 2016,

The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($417,000 or less) increased to its highest level since January 2016, 4.16 percent, with points at 0.39 (including the origination fee) for 80 percent loan-to-value ratio (LTV) loans.

The average contract interest rate for 30-year fixed-rate mortgages with jumbo loan balances (greater than $417,000) increased to its highest level since January 2016, 4.04 percent, with points at 0.37 from 0.26 (including the origination fee) for 80 percent LTV loans.  Only time will tell if the recent increases in mortgage interest rates will continue.

However, there is a consensus that rates will correct lower in mid December, but record low rates are not expected to be revisited.  With that said, rates are still historically low.

Only those mortgage professionals with Bond Charting skills and access to the Bond Traders, will be able to time the market for their clients in order to get a very low rate, as these rates move up and down all day.

Refinancing or buying a home doesn’t have to be Stressful

With rates so low many have refinanced at least once, even twice.  But there are still many who have not, due to either not wanting to deal with the stress of gathering documents and not sure of qualifying for a loan.  At North Atlantic you receive attentive personalized service
(see what our clients say).

Believe me, it’s a great deal easier with our help and expertise.

The average time to close a loan is about 30 days.  We monitor real time interest rates, which is why our clients are able to access some of the lowest rates available.  We understand the guidelines and know what different lenders can do, which incresaes your opportunites for a fast easy loan with a great rate.

Don’t put it off any longer and start saving with a lower mortgage payment. There are no salesman to speak with only qualified mortgage experts.

For a free consultation,
John Sauro
877-794-5363
Email: JohnSauro@Gmail.com

Future Treasury Secretary pick will have impact on markets

If President-elect Donald Trump selects House Financial Services Committee Chairman Jeb Hensarling as his Treasury secretary, it would be a clear sign that he intends to embrace a more traditional GOP agenda when it comes to financial services issues.

The Texas Republican is a fierce opponent of the Dodd-Frank Act, and a conservative ideologue who has preferred to stick to his principles rather than compromise to move forward on legislation.

In virtually every banking issue of note during his 13 years in Congress, Hensarling has pushed toward the right. That includes housing finance reform, where the protégé of former Sen. Phil Gramm, R-Texas, has sought to eliminate Fannie Mae and Freddie Mac and dramatically curb any government role in the mortgage market.

He also has particular enmity toward the Dodd-Frank Act, which he has blamed for slow economic growth, the Consumer Financial Protection Bureau, which he views as an unaccountable agency run amok and the Financial Stability Oversight Council, which he wants to abolish.

“In my world [FSOC] would play probably no role,” Hensarling said in a speech last week. “I do not believe that FSOC is adding value to our economy.”

Ironically, if Hensarling is confirmed as Treasury secretary, he would be nominally in charge of FSOC, acting as its chairman. He would also be a key player in setting much of the Trump administration’s economic policy.

Among his likely first objectives is the passage of his own bill, the Choice Act, which dismantles much of Dodd-Frank, curbs the powers of federal banking regulators, and offers institutions a chance to ease regulations in return for holding higher capital.

His well-documented record on financial issues make him a known entity to the financial industry, which respects Hensarling’s knowledge and intellect, but views him as inflexible on certain issues, including housing finance reform.

Whether he would be confirmed is an open question. On the one hand, Senate Democrats may see Hensarling as a potential ally of big banks because of his deregulatory policies and his repeated attempts to roll back Dodd-Frank.

“If Donald Trump puts up a Treasury secretary nominee who will empower Wall Street… I will vigorously oppose that person,” said Sen. Jeff Merkley, D-Ore., in an email last week before the announcement was made, alluding to a number of deregulatory bills the House Financial Services Committee chairman has passed out of the committee.

Yet Hensarling may be a preferable alternative to many others who have reportedly been weighed by Trump and his advisers in the past couple weeks, including multiple alumni of Goldman Sachs or even Jamie Dimon, the head of JPMorgan Chase.

Hensarling is “a member of the Congress, and he’s got an impeccable reputation as a decent man and has a lot of experience in the area,” Sen. Orrin Hatch, R-Utah, told the Dallas Morning News last week.

Hatch chairs the Senate Finance Committee, which is responsible for confirming the Treasury secretary.

Despite his reputation as an ideologue, observers said Hensarling also knows when to bend to get things accomplished.

“He has passed over forty different bipartisan bills that have passed the committee on a bipartisan basis,” said J.W. Verret, a law professor at George Mason University and a former House Financial Services Committee staffer.

Unlike most Treasury secretaries, Hensarling would come into the job with a clearly stated agenda. Last week, he talked about pushing forward on the Choice Act, reform of the Federal Reserve system and even housing finance reform.

One item that would be unlikely to make his list is restoration of the Glass-Steagall Act, a Depression-era law that divided commercial and investment banking and was repealed by the Gramm-Leach-Bliley Act of 1999. Though Trump’s campaign embraced a return to Glass-Steagall this summer, the idea has not surfaced since — and Hensarling would almost certainly be opposed to any such move.

“As a protégé of Sen. Gramm, he stands in the way of serious consideration of Glass-Steagall restoration,” said Bartlett Naylor, a financial policy advocate at the watchdog group, Public Citizen, wrote in an email.

If chosen and confirmed to Treasury, it is not immediately clear who would succeed Hensarling as Financial Services chair. Verret said no matter who it is, the work Hensarling has done on the committee could be picked up by another Republican.

“The Choice Act has been developed in a way that it has been informed by all the Republican members of the committee,” said Verret of the Choice Act. “If he leaves and someone replaces him, I think the next chairman can take up the flag and charge up the Hill very quickly, very easily.”

Under Hensarling, the international Basel accords are likely to be further fractured. The U.S. and EU are already at loggerheads on how far to go in embracing the international committee’s capital and liquidity standards, with the U.S. taking a harder line.

But Trump and Hensarling are skeptical of such agreements.

“As regulations are given from Basel into the U.S. financial regulators, we now have kind of an agreement… where the U.S. is absorbing regulatory guidance, regulatory suggestions from the international community,” said David Malpass, a senior economic adviser to Trump, in a recent speech. “There is a giant problem of the international financial regulatory system being run in ways that work very well for New York and Washington. These are gigantic boom cities… and benefiting from an international financial system which is leaving millions and millions of people out so part of the goal is to create a financial system that works for the average person rather than the financial elite that involved in those markets.”

Hensarling’s distaste for the Basel accords manifested itself in the Choice Act which provided banks an “off-ramp” to Basel capital and liquidity requirements if they met a simpler leverage ratio.

Hensarling is also close to Vice President-elect Mike Pence, whom he served with in the House and succeeded as chair of the House Republican Conference. Hensarling has also embraced Trump’s populist message to “Drain the Swamp” in D.C.

Some consumer groups, however, see that as disingenuous.

“Hensarling is a gator-in-chief in D.C.” said Mary Bottari, deputy director at the watchdog group Center for Media and Democracy, while pointing out that hedge funds, commercial banks and insurance firms have been some of his largest contributors.

Sources: MBA, NMN, CNBC, Bloomberg

So, is the Real Estate market back?  Some believe it is, others are not so sure. While these recent reports point to improvement, it is still a far cry from where the market was before the financial crises of 2008.  As we all know, the economy is growing at a very anemic rate and jobs are still a very big issue. While good news is encouraging many remain guarded.

WASHINGTON (October 20, 2016) — Existing-home sales rebounded strongly in September and were propelled by sales from first-time buyers reaching a 34 percent share, which is a high not seen in over four years, according to the National Association of Realtors®. All major regions saw an increase in closings last month, and distressed sales fell to a new low of 4 percent of the market.

Total existing-home sales , which are completed transactions that include single-family homes, townhomes, condominiums and co-ops, hiked 3.2 percent to a seasonally adjusted annual rate of 5.47 million in September from a downwardly revised 5.30 million in August. After last month’s gain, sales are at their highest pace since June (5.57 million) and are 0.6 percent above a year ago (5.44 million).  Read more

WASHINGTON, D.C. (October 19, 2016) –
Mortgage Rate report from the Mortgage Bankers Association

The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($417,000 or less) increased to its highest level since June 2016, 3.73 percent, from 3.68 percent, with points increasing to 0.36 from 0.35 (including the origination fee) for 80 percent loan-to-value ratio (LTV) loans.

The average contract interest rate for 30-year fixed-rate mortgages with jumbo loan balances (greater than $417,000) increased to its highest level since June 2016, 3.72 percent, from 3.67 percent, with points increasing to 0.29 from 0.24 (including the origination fee) for 80 percent LTV loans.

Refinancing or buying a home doesn’t have to be Stressful

With rates so low many have refinanced at least once, even twice.  But there are still many who have not, due to either not wanting to deal with the stress of gathering documents and not sure of qualifying for a loan.  At North Atlantic you receive attentive personalized service
(see what our clients say).

Believe me, it’s a great deal easier with our help and expertise.

The average time to close a loan is about 30 days.  We monitor real time interest rates, which is why our clients are able to access some of the lowest rates available.  We understand the guidelines and know what different lenders can do, which incresaes your opportunites for a fast easy loan with a great rate.

Don’t put it off any longer and start saving with a lower mortgage payment. There are no salesman to speak with only qualified mortgage experts.

For a free consultation,

Call or Email:

John Sauro 

Ph: 877-794-5363 

Email: JohnSauro@Gmail.com

Sources: CNBC, Bloomberg, NAR, MBA

The Federal Open Market Committee left rates unchanged last week as expected.  They also reduced the expected growth rate for the economy (GDP) from 2% to 1.8%.  The bond market generally favors poor economic data.  Lower growth signals economic concern and helps mortgage interest rates stay low.

The Fed has a dual mandate from Congress, full employment and price stability. With the unemployment rate running below 5% it can be argued that the employment mandate has been met. What is lacking is inflation. The Fed would like to see a 2% inflation rate, which has been elusive. The slower the economy grows the more difficult it will be for inflation to rise.  However, rate hikes are not off the table.  Yellen stated, “Our decision does not reflect a lack of confidence in the economy.”  In addition, “The Committee judges that the case for an increase in the federal funds rate has strengthened but decided, for the time being, to wait for further evidence of continued progress toward its objectives.”  Now is a great time to take advantage of the currently low mortgage interest rates.

Mortgage rates finished the week lower.    The Fed reduced growth projections for this year and mortgage bond prices rose which pushed rates lower Wednesday afternoon and into Thursday morning.  The data was mixed.  Housing Starts were 1142K versus the expected 1186K. Weekly jobless claims printed at 252K and continuing claims, a summation of all receiving benefits, at 2,113K. Expectations were for claims at 262K and continuing claims at 2,143K.  Existing home sales printed at 5.33M units versus the expected 5.5M units.  Housing prices rose 0.5% in July according to the FHFA Housing Price Index.

Refinancing or buying a home doesn’t have to be Stressful

With rates so low many have refinanced at least once, even twice.  But there are still many who have not, due to either not wanting to deal with the stress of gathering documents and not sure of qualifying for a loan.  At North Atlantic you receive attentive personalized service
(see what our clients say).
Believe me, it’s a great deal easier with our help and expertise.

The average time to close a loan is about 30 days.  We monitor real time interest rates, which is why our clients are able to access some of the lowest rates available.  We understand the guidelines and know what different lenders can do, which incresaes your opportunites for a fast easy loan with a great rate.

Don’t put it off any longer and start saving with a lower mortgage payment. There are no salesman to speak with only qualified mortgage experts.

For a free consultation,

Call or Email:

John Sauro 

Ph: 877-794-5363 

Email: JohnSauro@Gmail.com

Mortgage rates enjoyed another strong day, falling to the best levels in exactly 2 weeks.  Rates were actually set to move higher early this morning, but a much weaker-than-expected reading on Q2 GDP helped drive demand for bonds.  Better buying pushes bond prices higher and rates lower.  The strength in bond markets gave lenders the peace of mind needed in order to offer even better terms than yesterday.  The most prevalent conventional 30yr fixed rate is quickly returning to 3.375% on top tier scenarios.

Next week brings important economic data, including the big jobs report on Friday.  The overall tone of that data should help determine whether rates will continue building on the past 2 days of positive momentum.  The conservative approach would be to lock in the gains with rates at 2-week lows.  The aggressive approach would be to wait until we have clear evidence AGAINST the possibility that a new trend toward lower rates has begun.  As of today, there is no such evidence, but it could come at any time.

The Fed meeting

The Fed has a little pep in their step.  They like what they see when they look at the U.S. economy right  now.  They see less unemployment and more economic activity (stuff being made and services being provided).  They were happy to see June’s strong employment number after the bummer we saw in May.  And they see inflation (rising prices) as being unusually low.  (This is big – because low price growth generally means low interest rates).

Remember – the Fed’s job is to try to balance inflation (not too much or too little) and job growth (more is better).  In this paragraph, they tell us they aren’t worried about inflation and they think more jobs will be created in the near future.  In other words, they are getting close to their happy place.

Given that the Fed is near their happy place, and given that they still would like to see a bit more inflation and more job growth, they kept their foot on the accelerator (kept short term rates super low).  The Fed Funds Rate (the rate at which banks can borrow from each other) remains at 0.50%.  Mortgage rates went down a little bit on the news.  That makes puts us in our happy place.

The Fed owns more than a trillion dollars of mortgage bonds.  Those bonds pay interest and principal every month. The Fed is reinvesting the principal repayments they get back into mortgage bonds.  That keeps mortgage bond prices higher than they normally would be which keeps mortgage rates lower than they normally would be (in Fed-speak, they call this “maintaining accommodative financial conditions.”)  Thanks Fed!

Refinancing or buying a home doesn’t have to be Stressfull

With rates so low many have refinanced at least once, even twice.  But there are still many who have not, due to either not wanting to deal with the stress of gathering documents and not sure of qualifying for a loan.  At North Atlantic you receive attentive personalized service
(see what our clients say).
Beleive me, it’s a great deal easier with our help and expertise.

The average time to close a loan is about 30 days.  We monitor real time interest rates, which is why our clients are able to access some of the lowest rates available.  We understand the guidelines and know what different lenders can do, which incresaes your opportunites for a fast easy loan with a great rate.

Don’t put it off any longer and start saving with a lower mortgage payment. There are no salesman to speak with only qualified mortgage experts.

For a free consultation,

Call or Email:

John Sauro 

Ph: 877-794-5363 

Email: JohnSauro@Gmail.com

Sources: MBA, CNBC, Bloomberg

How to Save $152,841 

Most of us have a 30 year mortgage.  However look at the difference in savings when you choose a 15 year mortgage.  We used a $417k loan amount with a 2.50% rate on a 15 year loan compared to a 3.25%  rate on a 30 year loan.

While the payment is $965 more per month for the 15 year loan, the life of loan savings is $152,841 and the loan is paid of in 15 years. And lets face it, 15 years goes by pretty quick. Imagine not having a mortgage in 15 years.  Its worth consideration if the higher monthly payment is affordable. Call me and lets see how much you would save.

BREXIT Pressures Markets

Mortgage bond prices finished the week near unchanged amid considerable volatility. Interest Rates improved early in the week as fallout from the BREXIT vote continued to reverberate across the globe which resulted in flight to safety buying of U.S. debt instruments. Factory orders fell 1% versus the expected 0.9% decline.

The trade deficit was $41.14B versus the expected $40B. Most of the gains were reversed late in the week tied to employment data. June ADP employment report rose 172K versus the expected 152K increase. Weekly jobless claims were 254K versus the expected 270K.

The employment report was mixed. The headline figure showed unemployment @ 4.9% versus the expected 4.8%. However, the payrolls component was a stronger than expected +287K versus +185K. Mortgage interest rates finished the week near unchanged.

Refinancing or buying a home doesn’t have to be Stressfull

With rates so low many have refinanced at least once, even twice.  But there are still many who have not, due to either not wanting to deal with the stress of gathering documents and not sure of qualifying for a loan.  At North Atlantic you receive attentive personalized service
(see what our clients say).
Beleive me, it’s a great deal easier with our help and expertise.

The average time to close a loan is about 30 days.  We monitor real time interest rates, which is why our clients are able to access some of the lowest rates available.  We understand the guidelines and know what different lenders can do, which incresaes your opportunites for a fast easy loan with a great rate.

Don’t put it off any longer and start saving with a lower mortgage payment. There are no salesman to speak with only qualified mortgage experts.

For a free consultation,

Call or Email:

John Sauro 

Ph: 877-794-5363 

Email: JohnSauro@Gmail.com

Sources CNBC, Bloomberg, CNN

No Application fee. Rate 2.50% APR 2.595% based on 15 year conforming fixed rate loan with a minimum credit score of 740, maximum loan to value of 75% and a $2528 for origination. Rate locked for 15 days. Rates subject to change without notice.

US and global markets are still reeling over the shock of the UK vote last Thursday but as the calendar clicks the markets now settling down.

Mortgage rates have been the beneficiary of the global turmoil, dropping back down to lows not seen since February 2015.  The question is, for how long and do they move even lower. With the Brexit weighing on the markets, little other economic news seems to have any influence. The advice is to lock into rates at these levels. The risk of floating, not locking, is to great. When rates reverse, there may be little or no notice and rates could easily climb back up.

Refinancing or buying a home doesn’t have to be Stressfull

With rates so low many have refinanced at least once, even twice.  But there are still many who have not, due to either not wanting to deal with the stress of gathering documents and not sure of qualifying for a loan.  At North Atlantic you receive attentive personalized service
(see what our clients say).
Beleive me, it’s a great deal easier with our help and expertise.

The average time to close a loan is about 30 days.  We monitor real time interest rates, which is why our clients are able to access some of the lowest rates available.  We understand the guidelines and know what different lenders can do, which incresaes your opportunites for a fast easy loan with a great rate.

Don’t put it off any longer and start saving with a lower mortgage payment. There are no salesman to speak with only qualified mortgage experts.

For a free consultation,

Call or Email:

John Sauro 

Ph: 877-794-5363 

Email: JohnSauro@Gmail.com

Sources: CNBC, Bloomberg, Reuters

Rates are subject to change without notice.  The rate of 3.375% with an APR of 3.409% is for a 30 year fixed rate loan with a conforming loan amount up to $417,000 purchase or rate & term refinance with a max loan to value of eighty percent and a 740 credit score and a $1.638.81 origination fee.

Bond prices reacted positively this morning to the news that Britain voted to leave the European Union. The price of Mortgage Bonds is up sharply at 81 basis points. That’s Great News for Mortgage Rates.  Mortgage Rates will be priced at around 10:30 am. Call me to see how low they go. 

Ifyou’ve been procrastinating about refinancing or buying a home, now is the time to make your move, but do it quickly, as markets don’t always move in one direction.

Britains Prime Minister, David Cameron, has signaled his intention to resign. And so begins, what some experts say, could be a two-year long, very complicated process of renegotiating trade deals and other policies as the UK aims to decouple from the EU. The future of the union is now in question.

The central banks will come in and try to calm the markets. People holding bonds right now will be the big winners. And some experts say, it may take 3-4 mos for liquidity to return. Is this a deathblow to free trade? The people of Europe want to shake up the establishment, they are angry, paralleling similar feelings in the US right now. Immigration is one of the biggest key issues. Does dividing Europe up make it weaker to terrorists?

In the US, can Janet Yellen take the rest of the year off? No rate hikes seen for a while now, in fact, some experts believe we might see a reversal and rates will have to be lowered! Strap yourself in, it is going to be a wild week ahead.

Refinancing or buying a home doesn’t have to be Stressfull

With rates so low many have refinanced at least once, even twice.  But there are still many who have not, due to either not wanting to deal with the stress of gathering documents and not sure of qualifying for a loan.  At North Atlantic you receive attentive personalized service
(see what our clients say).
Beleive me, it’s a great deal easier with our help and expertise.

The average time to close a loan is about 30 days.  We monitor real time interest rates, which is why our clients are able to access some of the lowest rates available.  We understand the guidelines and know what different lenders can do, which incresaes your opportunites for a fast easy loan with a great rate.

Don’t put it off any longer and start saving with a lower mortgage payment. There are no salesman to speak with only qualified mortgage experts.

For a free consultation

Call or Email:

John Sauro 

Ph: 877-794-5363 

Email: JohnSauro@Gmail.com

The Feds Policy Statement

Key points:
Last meeting, Esther George voted against leaving rates alone, instead favoring a rate hike. This time around she changed her vote so that it was unanimous.
Only one Fed member in March expected just one rate hike in 2016 (Meaning everyone else expected two or more rate hikes in 2016).

This time around there are now 6 Fed members that expect only 1 rate hike in 2016.
Says Growth in economic activity has picked up.
Says Labor Market Indicators to strengthen gradually but that the pace of labor growth is slowing.
Mentioned a strong 2.5% increase in wages on a YOY basis.
Cut its expectation for full-year gross domestic product growth, from 2.2 percent at the March meeting to 2.0 percent this week.
The committee also lowered its 2017 projection a notch, from 2.1 percent to 2.0 percent.

During Janet Yellen’s Live Press Conference (Still ongoing as of press time), she was directly asked about the Brexit and said that it was discussed and was a big concern of the Fed.  She also reiterated that they are not on any kind of fixed path for rate increase, cuts, or leaving them alone.

You can read their official policy statement here: 

Refinancing or buying a home doesn’t have to be Stressfull

With rates so low many have refinanced at least once, even twice.  But there are still many who have not, due to either not wanting to deal with the stress of gathering documents and not sure of qualifying for a loan.  At North Atlantic you receive attentive personalized service
(see what our clients say).
Beleive me, it’s a great deal easier with our help and expertise.

The average time to close a loan is about 30 days.  We monitor real time interest rates, which is why our clients are able to access some of the lowest rates available.  We understand the guidelines and know what different lenders can do, which incresaes your opportunites for a fast easy loan with a great rate.

Don’t put it off any longer and start saving with a lower mortgage payment. There are no salesman to speak with only qualified mortgage experts.

For a free consultation

Call or Email:

John Sauro 

Ph: 877-794-5363 

Email: JohnSauro@Gmail.com

Sources CNBC, Teno3, Bloomberg

Rates are subject to change without notice.  The rate of 3.625% with an APR of 3.652% is for a 30 year fixed rate loan with a conforming loan amount up to $417,000 purchase or rate & term refinance with a max loan to value of eighty percent and a 740 credit score and a $1327 origination fee.

Ever wonder how Investors earn 6%+ on Real Estate with No Landlord Responsiblities?

I’m going to share with you what some of the wealthiest real estate investors know that many don’t. Many would like to buy investment real esate, but don’t want the responsability of being a landlord.  I know too many people who decided to buy a two, three or four family investment property, only to be dismayed by the demand placed on them as a landlord. Interupted leases, bad tenants and middle of the night maintinance calls are only a few reasons to stay away from this type of a real estate play.

There is another way.  Its called Single Tenant, Triple Net, Investment Grade Real Estate. Take for example Walgreens or CVS. These companies don’t own many of their stores, they rent and they are considered some of the best tenants because they are strong S&P rated companies.

It’s typical to be able to buy a property being rented by a CVS or Walgreens for only 25% down. Prices on these properties start at $1.5m and up.

The best part is earning 5%, 6% or more, guaranteed by their corporation.  And get this, they pay for the Taxes, Insurance and Maintinence. That’s right, No Landlord Responabilities. All this while the property appreciates over time.  You won’t make that kind of return on investment keeping you money in the bank and its safer than investing it in the stock market.

Recently we handled the acquistion of a national wholsale club for which our client is earning close to 9% with a corporate guarantee and with more than a 12 year lease.
These properties are such a solid investment, that getting financing is fast and easy with our underwriters.

We  specialize in these types of investment properties and are well versed in 1031 exchanges.  We locate the property, arrange the financing and manage the acquisition process.

If you want to know more about this type of investment real estate call,

John Sauro
Ph: 914-764-3261

email: johnsauro@gmail.com
Website: http://www.northatlanticcommercial.com/

Chance of a Rate Hike in June

The Fed is poised for a rate hike in June.  Some of the key points that the markets focused on is that even though there was one decenting vote, there were actually several members that were supportive of a rate hike at the April meeting.  They had less concern over global weakness (China) but did voice concern over how markets would react to the Brits exiting the European Union.

They cerainly left the door wide open for a rate hike in June and feel that the economic data from the second quarter would support it.

THE CURRENT TREND OF ECONOMIC DATA IS STRONG ENOUGH RIGHT NOW FOR A RATE HIKE… IT WILL TAKE A REVERSAL OF THIS TREND FOR THEM NOT TO RAISE RATES.

Richmond Federal Reserve President Jeffrey Lacker stated that the markets totally misinterpreted the Feds statements and bias from their March and April meetings and that he supported a rate increase in April (but he didn’t vote against leaving rates alone).

He also said he sees potential for up to four rate increases still this year.

Federal Reserve minutes  (read the official release here).

Refinancing or buying a home doesn’t have to be Stressfull

With rates so low many have refinanced at least once, even twice.  But there are still many who have not, due to either not wanting to deal with the stress of gathering documents and not sure of qualifying for a loan.  At North Atlantic you receive attentive personalized service
(see what our clients say).
Beleive me, it’s a great deal easier with our help and expertise.

The average time to close a loan is about 30 days.  We monitor real time interest rates, which is why our clients are able to access some of the lowest rates available.  We understand the guidelines and know what different lenders can do, which incresaes your opportunites for a fast easy loan with a great rate.

Don’t put it off any longer and start saving with a lower mortgage payment. There are no salesman to speak with only qualified mortgage experts.
Call me, John Sauro for a free consultation. 877-794-5363.

Sources CNBC, Teno3, Bloomberg

Rates are subject to change without notice.  The rate of 3.75% with an APR of 3.783% is for a 30 year fixed rate loan with a conforming loan amount up to $417,000 purchase or rate & term refinance with a max loan to value of eighty percent and a 740 credit score and a $1,614 origination fee.