Mortgage Expert Matt Grant of Rubicon chats about rates! must read!

Another great friend of Red Phoenix Consulting, Matt Grant of Rubicon Mortgage Advisors chatting it up about rates! I would like to thank Matt and all my guests of the blog! I work hard to bring the best of the best to all my readers. If you need me I'm always around... john@redphoenixco.com

Greetings-

We do see this week as a critical week for prospective homebuyers to take advantage of interest rate locks, or for those who have been considering a refinance to take advantage now. We are nearing the record-level low’s of November 2010, and is a fantastic reason for you to look at your personal options or to reach out to your clients/friends who may not know about the interest rate dip recently.

Mortgage Market Commentary:
The Fed still has roughly $75 billion to spend of its original $600 billion “QE2” funding allotment -- and they will likely use some of that cash to “grease-the-wheels” at this week’s three-part Treasury auction. Thursday’s April Retail Sales figures and Friday’s Consumer Price Index will be closely examined by mortgage investors. In the unlikely event we see a gain of more than 0.6% for the ex. auto component of the Retail Sales report and/or a reading of 0.3% or higher for the core rate of the Consumer Price Index -- expect the four-week rally favoring lower mortgage interest rates to come to a shuddering halt.

Current Interest Rates: (Better than last week)
· 30 Year Fixed 4.500%

· 30 Year Fixed (FHA) 4.250%

· 15 Year Fixed 3.875%

· 5 Year ARM 3.000%

· 7 Year ARM 3.500%

· Call or Email for JUMBO rates

*** The interest rates posted are approximate rates. Interest rates could be higher or lower depending on the loan amount, loan-to-value, credit score, debt ratio, etc.

As always, have a great week and should I be of assistance to you or your clients, don’t hesitate to email or call direct.

Thank You for the Referrals!!!


Matt Grant, MMS
NMLS #324106
Executive Vice President
Rubicon Mortgage Advisors, LLC
7101 York Ave S Suite 385, Edina, MN 55435
P (952) 921-3337 / F (952) 230-7811 / C (763) 370-0418
www.rubiconmortgageadvisors.com