Tag: mortgage

Do you think there is too much regulation in the financial industry?  My husband, Mark, sent me a link to an interesting article in the NY Times.

The premise is a good one: spell out for the consumer, in plain English, what he is getting.  I am amused by the author’s refinancing tribulations as Mark and I are going through that now. I’d give anything to have it streamlined and in consumer English. Heck, I am in the business and am sometimes overwhelmed by the sheer volume of paperwork and foreign sounding words.

 Money, money, money. You have to love his comment : “For as long as there has been money, people have been doing stupid things with it.” Here’s a link to the article: The Way We Live Now

– Betty Poore, www.bettypoore.com , betty@bettypoore.com

Read this interesting Wall Street Journal article on the front page of today’s issue Mortgage Rates Decline .

The article, written by Nick Timiraos, states international money seeking a safe haven is coming into the US and pushing domestic mortgage rates to the lowest levels of the year and back near 50 year lows.  Many in the industry say rates could drift as low as 4.5% this summer and not rise to 6% as some economist projected.  Rates on 30-year mortgages averaged 4.84% last week according to a survey by Freddie Mac.  Rates late last Friday were quoted at 4.86%, the lowest since December 2009 according to a survey by financial publisher HSH Associates, and down from a high of 5.27% for the week ended April 9.

You’re invited to an open house on Sunday, February 21 from 2pm-5pm at 242 Kelsey Blvd.  (Directions: From I-526, you will take Clements Ferry Rd North about 2 miles. Turn right into neighborhood, continue onto Kelsey and unit will be on your left. End Unit.)

A great opportunity to affordably own a great little property near downtown and the beaches.  The price was recently reduced to $165,000.  Great mortgage possibilities available through First Federal

• 3/1 Year ARM with 3.5% interest = $792.74/ Month
• 5/1 Year ARM with 4% interest= $830.19/Month
• 7/1 Year ARM with 4.25% interest= $849.36/Month

Hope to see you at my open house!

Brigitte McElroy