Equity One Mortgage, Refinance, Rates, Loans, FHA

Mellow start to the week...

2009-01-26T08:06:00.000-08:00

... The Dow is up just over 100 right now. Overall, as far as mortgage markets go, today is very quiet so far. There's a lot of news and earnings reports this week, so stay tuned for further information on the impact on Wisconsin mortgage rates.

Mortgage Rate update

2009-01-22T16:21:00.000-08:00

You are probably reading many conflicting reports about mortgage rates. Yes, they were as low as 4.50% recently for conforming loans. Now we are fluctuating dramatically on a daily basis, bouncing around the 5.00% level +/- 0.375%. Why the variation? Banks and lenders are having a hard time keeping up with the increased workload. Balance sheets are horrible. While the government is on a mission to push rates lower, the banks aren't passing on the rates they should be. They may be deterring applications until they can catch up. The best asset you have right now is an educated, professional mortgage advisor with a company like Equity 1 Mortgage of Wisconsin. We know this market very well, and know the best way to navigate it to make your experience a smooth, efficient one. Contact us by visting www.equityonemtg.com, or email info@equityonemtg.com today.

Mortgage Rates holding steady

2008-11-17T10:49:00.000-08:00

Rates are still holding steady near all-time lows. As a company, we here at Equity 1 Mortgage are on top of every move in the market, positive or negative. We have the ability to react before our lenders do. This allows your mortgage professional to protect you against same-day increases in your mortgage rate. Submit an application today, and let us help you better your financial situation. All eyes are still on the stock market and the volatility in all areas of the financial markets. Stay tuned.

The market keeps crashing...

2008-11-13T10:29:00.000-08:00

... New low on the S&P 500 for 2008 today. This is really ugly. Now Henry Paulson says the government is using TARP funds differently than they first planned. We had hoped they would purchase troubled mortgage assets, giving us a drop in rates allowing for more refinances and new home buyers to take advantage. Mortgage rates are very good right now, depending of course on each person's individual situation. Complete an application today!

It's getting uglier in this scary market...

2008-10-09T14:33:00.000-07:00

Another historically terrible day - the Dow closed down almost 700 points again. Mortgage rates on conforming and FHA loans have gotten worse by 0.25% to 0.50% in the last two days since the Fed cut interest rates by 0.50%. All we are seeing is money leaving the markets these days... everything is going down. Now is the time to work with an educated and trusted mortgage specialist. Rates are still very good, ranging from 6.00% to 7.00% for 30 year fixed rates, depending on the program, credit score, and LTV. Complete our "quick quote form" or submit an application at www.equityonemtg.com.

Rate Cut - How will mortgage rates respond?

2008-10-08T08:18:00.000-07:00

The Fed has made another dramatic move today in a 0.50% rate cut, coordinated with many global central banks in an effort to stimulate the global economy and settle down the turmoil in the financial markets. So far this morning, it hasn't worked all that well. The Dow was up over 100, and then down over 100. Europe reacted with a big turnaround after Japan's stock index was down almost 10%. Mortgage rates so far this morning are slightly worse than yesterday, which is typical anytime the Fed cuts rates. Stay tuned for more information...

Dow down after Bernanke's speech...

2008-10-07T09:58:00.000-07:00

Mortgage rates have had a relatively calm day today, in the wake of yesterday's turmoil and in the midst of what is now a 300+ point drop in the Dow (we were up 175 points shortly after the open today). Spreads between USTs and MBS (our market) are still far too wide by historical standards. However, we may be in the midst of a change in market dynamics. Now is the time to work with and trust our mortgage experts to navigate this economic storm and help you find the best mortgage for your specific situation.

Dow below 10,000...

2008-10-06T08:36:00.000-07:00

This market is getting downright scary. The bailout plan was supposed to stimulate a stock market recovery, and an improvement in interest rates. The top headlines are still about the credit squeeze and inability for businesses to obtain loans for equipment, 800 credit score borrowers to obtain car loans, etc. Mortgage rates have improved slightly today, driven primarily by the flight to quality we are seeing with the US equity markets off about 5% today, so far. This market is being completely driven by fear. Stay tuned for further rate information.

Senate passed, House to follow?

2008-10-02T08:45:00.000-07:00

The financial rescue package, improved by the Senate, passed 74-25 last night. The House is expected to have the votes needed to pass the bill tomorrow as well, but there is still some uncertainty in that. How does this affect the mortgage market? Excellent programs such as FHA, VA, and USDA are still widely available, depending on qualifications. If you are looking to refinance to consolidate debt, lower your rate, or get away from your adjustable rate mortgage (ARM), now is the time to act. Call us at 866-979-7355 and have one of our mortgage experts review your application today.

Rates are still low...

2008-10-01T09:27:00.000-07:00

After a rough day yesterday which saw money leave the fixed income markets to buy cheap, beaten-down stocks, we are seeing a bit of a recovery today in mortgage rates. FHA loans are still available at lower rates than conforming loans, on both a 30year fixed and 15year fixed program. Today is a great day to complete an application for a new home purchase or refinance. Let us help you lower your mortgage rate and/or monthly payments. Sitting on a lot of home equity?... We can help you get it at a low, tax-deductible rate, so you can invest it in the market while stocks are cheap. Ask for one of our Equity Management Specialists today.

Bailout Failure - Mortgage Rate Impact

2008-09-30T09:19:00.000-07:00

Well, the unexpected happened yesterday - the House failed to pass the bailout package as it was designed this weekend. All political drama aside, mortgage rates, along with the global equity and bond markets, have been extremely volatile. The overnight lending rate (the rate banks charge each other to borrow money from other banks) increased dramatically to 6.88%, up from about 2.5%. That is a scary thought - banks won't even lend each other money without a large return.

The time to act is now, whether you are looking to refinance or purchase a home. It's not clear right now if mortgage rates will rise or drop if the bailout passes. FHA is increasing overall costs of mortgage insurance effective tomorrow, October 1st, on all FHA loans. Call us or compete a quick quote request today!

No Bailout Yet...

2008-09-25T15:32:00.000-07:00

Good evening! Still no official news on the financial market bailout. We've heard multiple conflicting stories today, but nothing has been confirmed either way. Today was a quiet and disappointing day for mortgage rates. Our hope and belief is that when the details are finally announced, and the ink is on the bill, we will have a dramatic move to lower mortgage rates, which should cause a rush of refinances and accepted purchase contracts.

Stay tuned to our site for up to date information. Visit us at www.equityonemtg.com. Complete one of our pre-qualification forms (or a full application) so you are ready to take advantage of what will likely be an unprecedented move in mortgage rates.