FNMA 4.5% up just a few points. Rates still in that low 5% range for 30 year fixed money. Rates on the rise? Maybe. We have only closed "up" on the day for 3 of the last 12 sessions.
Remember the Bozeman Montana Rural Development Loans? Rural Development loans are also called RD loans and are guaranteed by the USDA. There are actually a few programs with rural development but mainly we use the RD's Loan guarantee program for housing. Quick qualifications for the Bozeman Montana area: household income needs to be under $73,600, total debt ratio or DSR should be under 43% (although there are exceptions!), home purchased needs to be outside of the city limits and credit score should be over 640 for the easiest results. See more great information including income limits for your area at: http://www.rurdev.usda.gov/rhs/common/indiv_intro.htm
How about Bozeman Montana Mortgage interest rates? The RD/ Usda Rural Development program's rate is traditionally just slightly higher than FHA, VA or Conventional loans. Remember though: no mortgage insurance monthly and 100% financing. Sweet. For better views of mortgage interest rates feel free to email or call for a free quote. www.metchad.com is also available. As I have shared, I have done more of these loans this year than in the last 10 years combined. RD is also feeling the added workload so WHO you work with REALLY matters on these ones. Feel free to contact me if I can be of service.
Ben Bernanke was named Time Magazine's person of the year. He has the world's attention for sure and they could have made a more frivolous choice. I say bravo. Some can agree and some disagree with his politics but I am not sure many would actually want to trade places with him.
Housing showed some good numbers today and we are on a national trend in the right direction.
FEDS reported from their 2 day meeting today and let us all know that housing is turning around as above, spending is steady, they don't see raising the fed funds rate any time soon and a few other items that the markets didn't really react to.
It is funny how sometimes we tend to "overthink" a situation and act foolish in anticipation of what we think someone else may be thinking. I know it happens in relationships and business. I think investors are constantly looking for "signs" and sometimes over reacting to them. Check out the quick story below:
A little boy got lost at the YMCA and found himself in the women's locker room. When he was spotted, the room burst into shrieks, with ladies grabbing towels and running for cover. The little boy watched in amazement and then asked, 'What's the matter, haven't you ever seen a little boy before?'
Cheers,
Chad
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Chad Schauers
Have you metChad?
MetLife Home Loans
406.522.0922
406.522.0924 (fax)
1924 W. Stevens, Ste. 202
Bozeman, MT 59718
Cell: 406 799 8613
cschauers@metlife.com
