RATES

CURRENT RATES	1/13/14
Conventional 15 Yr, Fixed to 95% LTV	3.625
Conventional 30 Yr, Fixed to 95% LTV	4.625
Conventional 7/1 ARM	4.0
Conventional 30 Year Fixed 97% LTV (half point origination required)	5.125
FHA 30 Year Fixed	4.25
VA 30 Year Fixed	4.25
USDA 30 Year Fixed	4.25
All above rates quoted with no points origination unless otherwise noted
NC State Bond with DPA	4.75
NC Bond loan requires 1% origination
Jumbo 30 Yr. Fixed to 80% LTV	4.625
ALL RATES SUBJECT TO CHANGE WITHOUT NOTICE.
CREDIT SCORE AND LOAN AMOUNT  ADJUSTMENTS MAY APPLY. FOR INTERNAL USE ONLY.

Notes from a Sales Meeting...

We were privileged in the Winston-Salem, NC Allen Tate office to have our COO, Pat Riley, with us today at our sales meeting.  He brought home the point that so many of us have been trying to convey for a while now... Yes, Mr. Seller, you may get more for your home in 5 years than you will now.  But, interest rates will rise, and you WILL pay more for the home you end up purchasing than you would today.  This must explain why Lisa and I are so slammed with new listings... the savvy are catching on!  Call us today for a comprehensive marketing plan for your property -- we utilize enhanced and out of the box features to make our homes stand out.  Visit our website by clicking here!

Don't Wait til Spring...

Popular wisdom is that "spring" market is the time to list, so many potential sellers are waiting until that time to put their homes on the market. As the KCMBlog.com pointed out, though, there are 5 VERY compelling reasons to get moving NOW!

1. Interest rates are on the rise. As rates increase, buyers have less purchasing power. This will eventually eat away at prices.
2. Your dream home has never been cheaper. PRICE is not the issue here, but COST. With low interest rates, you can get more home for the same payment you have now on the buying end.
3. Buyers are out early. Real estate publications are talking this up, and Lisa and I are seeing this every day. Many agents I know are busy busy busy!
4. Inventory will increase in spring. In Feb 2010, there were 3.5 million homes on the market; in March 2010, 3.6 million; and in April 2010, there were 4 million. This is a year over year trend.
5. We are currently in the calmest part of the foreclosure storm we will be in for a while. As more and more come on the market, prices will be driven down.

Tweet, Facebook, email, text, or call me TODAY!

Sorry Matt, but You're Wrong This Time!

I love watching The Today show on Mondays -- not only to get my Matt Lauer fix for the week but also because of the real estate segment they regularly run. I am usually pleasantly surprised by the advice given and agree that it is spot on... but not today! Today's segment on "5 Sure Ways to Sell Your Home in a Down Market" featured some great tips, but I adamantly disagree with the very first one. The real estate expert (her name escapes me at the moment, but like I said, I usually agree with her) said above all else to wait until after Super Bowl Sunday to list. Her reasoning was that no one is looking right now.
I disagree for SEVERAL reasons.
FIRST, interest rates are rising overall. A buyer can afford more home for the same payment now that he can afford if the interest rate goes up.
SECOND, people looking now are serious. You may not have as many showings as you would in the Spring, but the folks looking will mean business.
THIRD, most people will wait to list -- if you go ahead now, you have a leg up in that you aren't lost in the shuffle.
FOURTH, listing now gives you the opportunity to work out the kinks before the busy season starts. Perhaps you have an alarm... listing now and having a showing or 2 will give you the chance to have the showing instructions honed before the busy season.
FIFTH, the longer you wait, the more your price will be affected by shadow inventory. There are fewer foreclosures on the market now affecting your price than there will be in a month or two.

To speak to me about the pros and cons of listing now, just call 336-714-9444 or click. Have a great Monday!

Putting it in Perspective

The KCM Crew has done it again! Without giving into the mass hysteria created byt he media, they have presented a realistic portrait of real estate as an investment over the last decade. By citing a new article in Forbes magazine, they have helped us all breathe a little easier... at least for now. Their summary Even in what many consider a sub-par decade for the housing industry, real estate proved to be an excellent investment speaks VOLUMES. Check out the latest post at www.KCMBlog.com!

The Rates they are A-Rising...

Ok Folks... 30 yr conventional rates are now at 4.25. That is excellent, I know, but 2 weeks ago they were below 4%! So, they are rising, and the higher they go, the less house you get for the money. It is important to hone in and decide on the home you want NOW. Call me today to get started!

LOW Rates!

For the week ending June 11th
30 year fixed 4.50%
15 year fixed 4.00%
5/1 Conventional ARM 3.375%
FHA 4.500%
VA 4.500%
NCHFA 4.250%

Investment 5.00%

Rates for 6-8-10 -- WOW

30 year fixed 4.625%
15 year fixed 4.250%
5/1 Conventional ARM 3.375%
FHA 4.750%
VA 4.750%
NCHFA 4.750%

Investment 5.375%

Current Rates

Rates are still great! According to Jennifer Tuttle and the Allen Tate Mortgage Minute, the FHA rate is 4.875, and the conventional rate is 4.75... BUT economists are predicting they will be up to 6 or higher by Christmas. That can make a huge difference, especially with the increased FHA up-front PMI now required. Call me to act now!

Is the Madness Over?

If you a Realtor, you are probably feeling a little dazed from the mad rush of folks trying to take advantage of the tax credit over the last couple of weeks. While I do think some of the urgency is gone, I think when people realize that rates will be rising we will be right at it again! I know the last couple of days my phone has not rung quite as much, but folks are still on the hunt. Happy Spring!

Now... to the potential buyers out there... Rates today are 4.875 for conventional and FHA, but they will not stay that way. Economists and leading real estate indices are indicating a rise over the summer... and on a $100,000 property, even a half point can make a difference. So, even though you may have missed out on the tax credit, the early bird still catches the worm. Call me today if you have questions or are ready to get started!

Rising Interest Rates

A lot of people don't realize the impact an interest rate can have on their payment... for example, on a $100,000 loan, the difference between a 4.5% rate and a 5.5% rate could be $100 a month! So, with economists forecasting that rates will rise after April 30, it is extremely prudent for a lot of folks to put on their home finding hats NOW, get a home under contract, and lock their rates. I have heard some buyers say "well, after April 30 there won't be as much demand, so sellers will have to reduce their prices...". While this may be true in some cases, those rising interest rates may more than make up for any price cut done by aggressive sellers. So, why not take advantage of the low rates AND the tax credit and find something now? As always, I am here to help!

Weekend Rates

Conventional 5.00%
5/1 ARM 3.750%
FHA 5.00%
VA 5.00%
USDA 5.00%
NCHFA 4.750%
Investment 5.750%

As always, call, text, email, or tweet for more info!
336-714-9444
336-244-4269
amanda.shore@allentate.com
@amandashore

Today's Rates from Allen Tate Mortgage

Rates are still wonderful with both conventional and FHA below 5%! Forecasts predict they will be going up soon, though, so you better act fast. Call or email me for more info, and please see below:

Conventional 4.875%
5/1 ARM 3.750%
FHA 4.875%
VA 5.00%
USDA 5.00%
NCHFA 4.750%
Investment 5.625%


For mortgage help, contact me or Jennifer Tuttle with Allen Tate Mortgage at jennifer.tuttle@allentate.com. Phone calls do not obligate you to use our services.