Mortgage Rates

Rates seem to be holding their own, as the Fed continues to keep downward pressure on mortgage rates in order to stimulate sales and refinances.  In the meantime, you may have read about the Home Affordable Refinance program, which allows certain home owners to refinance in spite of drops in real estate values – up to 105% of value.  There are price “dings” and other restrictions.  If you or your previous buyers or current sellers have questions, please call us for more information.

In spite of the somewhat negative commentary from Obama last week about the state of the world economy, the President is now acknowledging Wall Street economists’ remarks that a “glimmer of hope” twinkles on the horizon, and that the recession should see its end around fall of this year.  This doesn’t mean that we’re out of the woods yet, it just means that we may be coming close to a clearing.

Hope is not an imaginary friend; it is a practice that allows us to move more succinctly towards our goals.  Just ask Captain Richard Phillips.  We’re having a great week – are you?

Ginger Sullivan, Anasazi Mortgage