Cautious Optimism

The U.S. had a surprising 3rd quarter for corporate profits, yet the emphasis of those profits have been, not from real growth in most cases, but because of cost-cutting measures.  The consumer is exercising cautious buying practices, and awaiting news that more jobs are being gained than lost (which is the last segment of the economy to see upticks).
With the cautious consumer optimism, anticipate some positive momentum in the real estate markets – good news for sellers may leave buyers wishing they would have moved sooner on the “home of their dreams”.  Also, one of our jumbo lenders is offering 90% jumbo mortgages with no MI at 6.30% (30-yr fixed) on primary residences.  This is an indication that mortgage lending may be loosening. 

Ginger Sullivan, Anasazi Mortgage