Eric's Blog

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Mortgage and Lending - Homeowners Financial Group USA, LLC
RECENT BLOG POSTS
According to an article on bloomberg.com, Phoenix led the nation in home price decline. Quick points to consider from the article. 40% increase in price from 4th quarter of 2004 to 4th quarter of 2005. From 4th quarter of 2005 until the most recent quarter home prices have dropped by 40%. Median ...
12/30/2008
I hate to be the bearer of GOOD NEWS...but rates are really exciting.  Think about it...a 30 yr fixed rate for less than 5%, those have to be some of the best rates in over a quarter century.  Case in point - Read this USA Today article: http://www.usatoday.com/money/economy/housing/2008-12-18-mo...
12/19/2008
Fed decided to cut rates to between 0 and .25% for the overnight fed funds rate.  What makes this so unique is that it hasn't really happened before.  You can read the full story from the AP regarding the rate cut.  I would be remiss to say that when the first rate cut happened in late 2006, I wa...
12/16/2008
Want to spread Holiday cheer? - Make sure you ..."sing loud for all to hear!!!"  Or you could pass on the news regarding rates!!! Not only are homes on sale - in some cases 40-50% off, but rates are making homes even more affordable.  It is like Christy Walker with Remax told me this week.  "If y...
12/12/2008
A little slow in coming - but I needed to chew on it for a while and decide what, if any of it makes sense.  You can see the new GFE that is to be implemented on January 1, 2010 - here.  After much thought the verdict is still out as to if this GFE is better than the current GFE we have.  The goa...
12/11/2008
At least in Maricopa County and the majority of the remaining counties in Arizona, on January 1, 2009 the FHA max loan limit will change to $271,050 from $346,250.  If you have a listing in that range, maybe the best move is to play up FHA.  With rates in the mid-5's for FHA loans, it should/coul...
12/02/2008
What a difference $800 Billion can make???  Or at least that is the sentiment when it comes to rates.  If you are hesitating, then you might not be paying attention.  So, spread the word that rates are in the low to mid-5's and it may be the time for your loved ones to be thankful for the Fed and...
11/26/2008
Yesterday at around 8:15 AM New York time, the Fed announced a plan to pump $800 billion into buying Mortgage Backed Securities.  Of that $800 billion, $200 billion is to be used for small business loans, consumer loans, student loans and credit card borrowers, $500 billion to buy mortgage backed...
11/25/2008
Fed decides to pump money ($800 Billion to be exact) into the markets to help "un-freeze" them leaving the mortgage market excited and rates extremely low. For the most qualified borrowers - 5.500% and 0 PTS/ 0 Origination Fee. Don't miss the opportunity for you or someone you know.  Tell them to...
11/25/2008
Before the Holiday Season is in full swing and the urge to run a lot of charges on your credit card takes over, it makes sense to see what credit means toward buying a home.  Now, more than ever does credit matter when it comes to buying a home.  We all know that the "best" credit risks get the "...
11/24/2008
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Eric Murrietta

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