Eric's Blog

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Mortgage and Lending - Homeowners Financial Group USA, LLC
RECENT BLOG POSTS
On May 29, 2009, HUD released Mortgagee Letter 2009-15.  Initially this letter appears to help First Time Homebuyer's to use their $8000 Tax Credit as a part of their down payment before they actually receive the credit back from the government. Based on my research this is not the case! Currentl...
06/01/2009
This week was the Scripps National Spelling Bee.  I didn't watch all of it but on Monday, I happened to catch about 10 minutes of it on ESPN.  What I found most interesting was the way the kids showed their pleasure or discomfort with the words immediately.  One contestant looked as if she was ab...
05/29/2009
Rates have been trending upward over the last several weeks.  Though they haven't jumped dramatically, it has been a steady uptick that is seeing rates over the 5% mark.  As this begins to happen, it could lessen the urge for many consumers to refinance and/or buy a new home.  If we don't keep th...
05/11/2009
Happy 100 degree weather!  Man it got hot pretty fast.  It went from gorgeous to unbearable in about two minutes.  I guess that is AZ for you.  Not much as far as rate changes.  The market was pretty volatile this week and things fluctuate as is the norm, but we ended very close to where we start...
05/08/2009
Rates were higher today than they were for the majority of the week.  The market is looking up though.  There are bidding wars in the price range of homes under $100K due to the 2.2 months of inventory supply.  There still remains over a 13 month supply on homes in the Scottsdale area and this is...
05/01/2009
Rates took a bit of a beating the last couple of days.  In mid-week, there were still deals around the mid 4's on a 30 YR Fixed conventional loan.  Not too shabby.  But now everyone is waiting on the low 4's - Ah, but if we could all wish upon a shooting star. Some updates for this week: Homeowne...
04/03/2009
Rates stayed pretty consistent throughout the week with a few swings up .125% and down .125%, but for the most part it was right at where we ended last week.  I can't stress enough that we don't know how long these rates will stay down in this range, so be on the lookout for those buyers and the ...
03/27/2009
Rates this week dropped a bit on Wednesday when the government announced their plan to buy even more mortgage backed securities, but we've steadily seen increases since then so we ended right back where we started. $15,000 for Down Payment and Closing Costs in City of Phoenix - Our "Government St...
03/20/2009
"Good news travels fast, bad news travels faster."  That principle alone makes it difficult to decide what to write in my weekly review.  I think it's easier to write the bad news.  Seemingly it's everywhere.  (8.1% unemployment rate, Dow at lowest levels in over 12 years, and the tragic story of...
03/06/2009
Today is March 4, 2009 and the new "Making Home Affordable" Refinance and Modification programs were unveiled today.  The Financial Stability website is a great place to locate the information regarding these two programs.  It has everything from the full guidelines on the modification program to...
03/04/2009
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Eric Murrietta

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