“TIME IS MORE VALUABLE THAN MONEY. YOU CAN GET MORE MONEY, BUT YOU CANNOT GET MORE TIME.” Jim Rohn. And while this is certainly true, home buyers and folks receiving unemployment benefits both got the word that a bit more money and time is coming their way.
Mike: Why was I quoted a rate of 5% yesterday and 5.25% today? Do rates change that fast?
The all time closing high of the S&P 500 was 2 years ago, when in October of 2007 it closed at 1565. On Friday, October 9 2009, the S&P closed at 1071, 32% lower than the all time high just 2 years earlier. HOWEVER … IT IS 58% HIGHER THAN THE 3/9/09 BEAR MARKET LOW CLOSE.
If you remember, I mentioned two weeks ago about the Federal Reserve stopping the purchasing of mortgage backed securities and how this will effect rates in the future. Well, we got some more news about rates last week.
Susan: Are banks still lending money? I hear all the time that financing is very difficult to get.
Everyone probably remembers the hit song from Bon Jovi: “ITS MY LIFE……….ITS NOW OR NEVER!!!!”
Allow me to introduce Brandon Nicely, branch partner in Alcova Mortgage here in Blacksburg. The mortgage industry is literally changing on a daily – and sometimes hourly basis – and Brandon’s going to be bringing us the straight talk on what’s really going on in the industry, what’s happening with rates, and what to expect going forward. And we’re going to hold him to every word, it’s as good as gold! Okay … we’ll give him a little leeway.
Oh hello … there’s a blog here under all these cobwebs. Been a while since I’ve been here.