Moore Mortgage Solutions

    Since the historic takeover of Fannie Mac and Freddie Mac, the bond market has been enjoying a nice surge. What does that mean to you, the consumer, is the lowering of the mortgage interest rates.

    Interest rates have dropped about 0.25% to 0.50% over the last two days. Though there may be a good chance of better pricing or pricing staying around these levels for awhile, the trend never goes straight down. It’s a see-saw effort as it goes up and when it goes down.

    But with that said, if you have been just listening to the news, you would have heard that the price of crude oil is trading down near the $100.00 mark and the US Dollar is slowly getting stronger against the Euro Dollar.

    This means that inflation is moderating. And like I said in my last blog, if inflation is moderate, the Federal Open Market Committee (FOMC) that Bernanke chairs won’t raise short term interest rates at their next meeting on Tuesday, September 16^th.

    How does all of this affect you, the consumer? This may be the time to review your mortgage to see if this is the time to refinance. And if you are thinking about buying your first home or moving up, this may be the time to do so.

    To find out if this the right time for you, go to my Ready, Set, Go Program and sign up. Knowledge is power and knowing whether this is the right time, gives you options. Together, we can review your options and decide if this is the right time.

    In the meantime, please feel free to contact me with your questions or concerns about mortgage market.

    And please make each day an inspired one!

Your Friend in the Business,

Betsy Moore

206-331-2749

Ready, Set, Go Program

betsy@mooremortgagesolutions.com

    Yesterday, our Government seized control of Fannie Mae and Freddie Mac. The major reason for this bailout, the largest one ever in our history, was to support the housing market as well as to ward off financial turbulence on a global scale.

    Fannie and Freddie guarantees almost half of the country’s $12 trillion in outstanding home mortgage debt.

    In Henry Paulson’s (U.S. Treasury Secretary) press conference on Sunday, he stated, “Our economy and our markets will not recover until the bulk of this housing correction is behind us.” He continued to say that Fannie and Freddie’s solvency is critical to making that happen.

    The takeover of Fannie and Freddie has been what Wall Street has been hinting at for some time now. And it is hoped that this move will help the overall housing market to start to recover.

    This news is now filtering through the financial markets and will continue to do so over the next days and most likely weeks.

    So far this morning, the markets, both the stock and bond markets, are reacting favorably to this historic takeover.

    Please remember, our own housing market is still good. If you have concerns or questions about the housing market, please feel free to contact me.

    As always I am here to talk to you about your own home mortgage needs whether it be to qualify for a mortgage, to refinance your mortgage, or to buy up. Let’s together plan for your credit financial health future and wealth.

And please make every day an inspire one!

Betsy Moore

CMPS™

206-331-2749

Home of the Ready, Set, Go Program