Mortgages are available despite confusing news

March 15th, 2010

Written by Greg Frost

We’re watching a slew of housing news from around the country and seeing mixed outlooks. National Mortgage News Online reports (here; subscription required) that housing starts were up slightly nationally, pointing to increased stability. In places like Southern California, where Frost Mortgage has several branch partners, home prices were up for January compared with last year, but still down from December. Here in our home base of Albuquerque, New Mexico, home sales are showing signs of “modest recovery.”

What does this mean to you as you look for a Veterans Administration (VA), Federal Housing Authority (FHA), 203k Rehab or USDA Rural Home Loan? From our perspective, the recovery news is likely to remain unclear for some time. Only after the fact will we be able to tell that real recovery has begun. In the meantime, life must go on, and despite the doom and gloom we see every day, conditions are actually great for borrowers. Rates are at historic lows, however, government withdrawal from mortgage backed securities in the coming weeks could precipitate a modest increase.

In short, as I wrote recently, it’s just not possible to “time the market.” We’ve seen a lot of ups and downs since we opened in 1991, and we’ve learned that what works best in the long run are the time-tested rules. And so, if you’re looking for a loan, please call me today at (800) 659-3767 and I’ll help you figure out what makes sense for you today.

Please take a moment to learn more about how Frost Mortgage can help you. If you're looking for a mortgage, please visit our Find a Loan Officer page. And if you're looking for the best Branch Partner opportunity in the business, please visit our Branch Opportunities page. Thank you!

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This entry was posted on Monday, March 15th, 2010 at 10:00 am and is filed under Economy, First-Time Homebuyer, Mortgage Banker News, Mortgage Programs, Mortgage Rates, Real Estate News. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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