Long Beach Mortgage Rates Reports - Long Beach Mortgage Rates Reports

Lock all interest rates at application. The unrest in Asian markets is bleeding to the US and traders are more concerned about the inflation risk than the possibility of a recession. Economists believe that The Fed's easy money policy is really an investor bailout disguised as a recession aversion. They think it's compromising the integrity of our economy. As commodities prices (oil, food) accelerate, so may consumer, non-essential prices.

I still favor mid-term ARMs over 30 year-fixed rate loans. We offer a 7-year fixed period ARM at 4.875% (5.18% apr) while a 30-year fixed rate loan is a full percentage point higher.. When you consider that the average hold time for a mortgage is five years, the 7-year fixed period ARM makes a whole bunch of sense.

It should be a volatile week ahead with lots of economic data being released. Want your rate quote and good-faith-estimate reviewed FREE? Fax it to (858)-605-4230 and call (858)-777-9751 to let me know it's there.

I had a complete meltdown on my Twitter feed, yesterday. Bernanke told the House that he was concerned about inflation but more concerned about a recession. I initially reversed my float recommendation and subsequently changed it back to lock because I thought Wall Street would hate Ben's remarks; I was wrong. I violated the first principle; don't fight the Fed.

The Federal Reserve is worried about a recession. I think we can expect the Fed to cut rates next month.. The anticipation of that cut gives us a chance to see mortgage rates drift lower. You should CAUTIOUSLY FLOAT your mortgage rate if your closing is over 7 days away; I think you'll have some room to get a mortgage rate that is .125% to .25% lower than it is today.

We're you paying attention to my Valentine's Day gift of love? I pointed out the hot curves on the 10/1 ARM; it was a full 1% lower than a 30 year fixed. She's not as sexy as she was last week but the 10/1 ARM is still .5% better in rate than the 30 year fixed.

This morning's report is a bit more dry than the others because today will be busy. The Gross Domestic Product showed that the economy is teetering on the brink of recession. That news will be good for mortgage rates.