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Mortgage Update From Allen Quinney

visit my website email me now Allen Quinney Loan Officer 812 E Main Puyallup, WA 98372 Office: 253-238-0029 Mobile: 253-722-8565 For the week of February 20, 2012 – Vol. 10, Issue 8 >> Market Update QUOTE OF THE WEEK…"Strive for continuous improvement, instead of perfection." –Kim Collins, track and field star INFO THAT HITS US WHERE WE LIVE… U.S. homebuilding is certainly following the advice of the first World Champion sprinter from Saint Kitts and Nevis. With housing starts registering a 699,000 annual rate in January, we’re still a good way from perfection, but continuous improvement is being demonstrated. Also improved were December’s starts, upwardly revised to 689,000. Best of all, the three-month moving average improved to a 697,000 annual rate, a three-year high. And single-family starts are up 16.2% versus a year ago. New building permits were also up in January 0.7%, to a 676,000 annual rate. Versus a year ago, they’re up 55% for multi-family and up 6.2% for single family homes. Even better, the number of single-family homes under construction was up 2.1% in January, the largest gain since 2004. And there were 119,000 more single-family starts than completions in January, the widest gap in those numbers since the housing boom peak in 2006. Builders clearly are more optimistic. BUSINESS TIP OF THE WEEK… It’s important to stay optimistic. Every problem has a solution and you’ll usually find it more quickly by having a positive attitude from the start. >> Review of Last Week UP… The stock market went in the right direction, enjoying its sixth advance in seven weeks with the S&P 500 at a new nine-month high. It wasn’t clear why investors felt so good, as economic signals continued mixed. The Greek parliament approved austerity measures, but the situation is not yet resolved and there are other spendthrift Eurozone countries waiting in the wings. Good news over here included the above Housing Starts, plus weekly initial jobless claims dropping to 348,000. Although declining, this number is still not where it needs to be. Then there’s inflation. Core CPI put consumer prices up a greater than expected .02% for January and up 2.3% year-over-year, their biggest gain since 2008. Leading Economic Indicators (LEI) were up a fourth straight month, but lower than expected. Manufacturing showed surprising strength in the Philadelphia and New York regions, yet overall industrial production came in flat. Retail sales were up in January following a flat December, but car sales were stalled. For the week, the Dow ended up 1.2%, at 12950; the S&P 500 closed UP 1.4%, at 1361; and the Nasdaq shot up 1.6%, to 2952. There were small pull backs in bond prices as investors pulled out, hoping the Greek debt crisis would get resolved this weekend. The FNMA 3.5% bond we watch ended the week down only .06, to $103.10. The national average rate on a 30-year fixed rate mortgage stayed at its record low level in Freddie Mac’s weekly survey. Average rates overall remain historically low. DID YOU KNOW?…The top reasons people are selling their homes is for job relocation, tied with a need for more space, according to the latest seller profile from the National Association of Realtors. >> This Week’s Forecast HOME SALES, JOBS, CONSUMER MINDSET… It’s a quiet week for economic reports but two big ones will depict the state of the housing market in January. Wednesday’s Existing Home Sales are expected up just a bit, and Friday’s New Home Sales are also forecast to rise, though still far below where they should be. We’ll monitor weekly Initial Jobless Claims and Continuing Claims on Thursday, and Friday brings the final read on University of Michigan Consumer Sentiment for February. The markets will be closed Monday in observance of Presidents’ Day. >> The Week’s Economic Indicator Calendar Weaker than expected economic data tends to send bond prices up and interest rates down, while positive data points to lower bond prices and rising loan rates. Economic Calendar for the Week of Feb 20 – Feb 24 Date Time (ET) Release For Consensus Prior Impact W Feb 22 10:00 Existing Home Sales Jan 4.63M 4.61M Moderate Th Feb 23 08:30 Initial Unemployment Claims 2/18 355K 348K Moderate Th Feb 23 08:30 Continuing Unemployment Claims 2/11 3.450M 3.426M Moderate Th Feb 23 11:00 Crude Inventories 2/18 NA -0.171M Moderate F Feb 24 09:55 Univ. of Michigan Consumer Sentiment-Final Feb 73.0 72.5 Moderate F Feb 17 08:30 New Home Sales Jan 315K 307K Moderate >> Federal Reserve Watch Forecasting Federal Reserve policy changes in coming months… Last week’s FOMC Minutes from the January 25 meeting revealed only one Fed member thought inflation would necessitate a rise in the Funds Rate before the end of 2014. Note: In the lower chart, a 1% probability of change is a 99% certainty the rate will stay the same. Current Fed Funds Rate: 0%–0.25% After FOMC meeting on: Consensus Mar 13 0%–0.25% Apr 25 0%–0.25% Jun 20 0%–0.25% Probability of change from current policy: After FOMC meeting on: Consensus Mar 13 <1% Apr 25 <1% Jun 20 <1% This e-mail is an advertisement for Allen Quinney. The material provided is for informational and educational purposes only and should not be construed as investment and/or mortgage advice, or a commitment to lend. Although the material is deemed to be accurate and reliable, there is no guarantee of its accuracy. The material contained in the newsletter is the property of PrimeLending, A PlainsCapital Company and cannot be reproduced for any use without prior written consent. It is designed for real estate and other financial professionals only. It is not intended for consumer distribution. The material does not represent the opinion of PrimeLending, A PlainsCapital Company. © 2012 PrimeLending, A PlainsCapital Company. Trade/service marks are the property of PlainsCapital Corporation, PlainsCapital Bank, or their respective affiliates and/or subsidiaries. Some products may not be available in all states. This is not a commitment to lend. Restrictions apply. All rights reserved. PrimeLending, A PlainsCapital Company (NMLS no: 13649) is a wholly-owned subsidiary of a state-chartered bank and is an exempt lender in the following states: AK, AR, CO, DE, FL, GA, HI, ID, IA, KS, KY, LA, MN, MS, MO, MT, NE, NV, NY, NC, OH, OK, OR, PA, SC, SD, TN, TX, UT, VA, WV, WI, WY. Licensed by: AL State Banking Dept.- consumer credit lic no. MC21004; AZ Dept. of Financial Institutions- mortgage banker lic no. BK 0907334; Licensed by the Department of Corporations under the California Residential Mortgage Lending Act- lender lic no. 4130996; CT Dept. of Banking- lender lic no. ML-13649; D.C. Dept. of Insurance, Securities and Banking- dual authority lic no. MLO13649; Illinois Residential Mortgage Licensee, IL Dept of Financial and Professional Regulation, – lender lic no. MB.6760635; IN Dept. of Financial Institutions- sub lien lender lic no. 11169; ME Dept. of Professional & Financial Regulation- supervised lender lic no. SLM8285; MD Dept. of Labor, Licensing & Regulation- lender lic no. 11058; Massachusetts Division of Banking– lender & broker license nos. MC5404, MC5406, MC5414, MC5450, MC5405; MI Dept. of Labor & Economic Growth- broker/lender lic nos. FR 0010163 and SR 0012527; Licensed by the New Hampshire Banking Department- lender lic no. 14553-MB; NJ Dept. of Banking and Insurance-lender lic no. 0803658; NM Regulation and Licensing Dept. Financial Institutions Division- lender license no. 01890; ND Dept. of Financial Institutions- money broker lic no. MB101786; RI Division of Banking- lender lic no. 20102678LL and broker lic no. 20102677LB; TX OCCC Reg. Loan License- lic no. 7293; VT Dept. of Banking, Insurance, Securities and Health Care Administration- lender lic no. 6127 and broker lic no. 0964MB; WA Dept. of Financial Institutions-consumer lender lic no. 520-CL-49075. PrimeLending, A PlainsCapital Company is an Equal Housing Opportunity Lender. NMLS #213518 This email was sent to aquinney@primelending.com. You may unsubscribe from future advertisement e-mails from Allen Quinney. Click here to unsubscribe :: please DO NOT change the subject line of the email, send it as it is.

Allen Quinney MLO 213-518

253-722-8565 | aquinney

On the web http://www.nwhomeloans.net

Snow Wimps? This Seattle/Tacoma Winter Storm Aftermath is Real!

Well, today is Sunday and a lot of attention is being focused on today’s great NFL match ups where the Baltimore Ravens travel to New England to challenge the Patriots and the San Francisco Forty Niners will host the soaring New York Giants.  While I share in the intrigue of watching these games It’s very surreal to remember that here in our little corner of the United States we are still recovering from a huge snow and ice storm that has left thousands still without power!

A storm that caused a writer by the name of Kim Murphy from the Los Angeles Times to refer to residents here as “Snow Wimps”.  As many folks know, the entire Puget Sound area is synonymous with Seattle.  Often times when Seattle is referenced so is Tacoma, Everett and all the areas in between.  One could argue that Seattle is the reference name for all of Western Washington.  With that being said some areas received 2 feet of snow that was topped with an inch of solid ice!

While our power was out my wife and I were listening to KOMO AM 1000 on a battery powered radio to stay updated with school closures and other local news regarding power outages.  According to her interview with John Carlson on Komo AM 1000 Kim Murphy resides here in Seattle and writes for the LA Times.  She also mentioned to John Carlson that she had written the article prior to the ice storm which turned out to be fatal and cause several hundred thousand people to be without power (including my family) for several days.

In fact, as I am typing this thousands are without power still and have been for 4 days now.  Not to mention the temperatures have only briefly risen above 40 degrees!  Fortunately my power has been restored and we are thankful for the hard work of all the power crews from both Tacoma City Light and Puget Sound Energy as they work tirelessly to restore power to the residents of the Puget Sound area.  At one point KOMO AM 1000 was reporting that over 300,000 homes were without power and that as they were restoring customers more were losing power due to falling trees, branches and power lines which created more outages as they were working!

Okay, let’s wrap this up.  This blog is not intended to debate with the writer of “Snow Wimps” but rather to inform and remind people that this storm has not only been fatal but has left many people struggling to stay warm when temperatures are hovering only slightly above freezing.  While some sit without power they may be forced to listen to the sounds of trees falling around them and the flood warnings that have followed.

This storm was real and so is the aftermath.  Snow Wimps?  No, I think the roughly 4 million residents in the Puget Sound area handled it pretty well.  I mean let’s face it, what would the people of Los Angeles do with nearly 2 feet of snow covered with another inch of ice?  Better yet, what would they do with any snow?  I don’t think it went to well last time…

Now let’s hope for some great football games today and above all let’s hope that the rest of the families without power are restored soon and have a chance to get warmed up!  Go Ravens and Giants!

You can view Kim Murhpy’s article by following the link below.

http://latimesblogs.latimes.com/nationnow/2012/01/seattle-snow-storm.html

 

Mortgage Update From Allen Quinney

visit my website email me now Allen Quinney Loan Officer 812 E Main Puyallup, WA 98372 Office: 253-238-0029 Mobile: 253-722-8565 For the week of January 16, 2012 – Vol. 10, Issue 3 >> Market Update QUOTE OF THE WEEK…“If you have to forecast, forecast often.”–Edgar R. Fiedler INFO THAT HITS US WHERE WE LIVE…Economist Fiedler, Assistant Treasury Secretary under Presidents Nixon and Ford, knew that wise forecasters give themselves lots of opportunities for revisions. This time of year, the focus is on forecasts and even though many will soon be revised, some are worth considering. The chairman of the Fisher Center for Real Estate at the University of California, Berkeley, feels home prices have bottomed and are increasing, though not rebounding, where there’s strong job growth. But other economists anticipate a 5% decline in home prices over the next two years. Several industry watchers expect mortgage rates to stay low in 2012, especially the first half of the year. But buyers and those looking to refinance shouldn’t drag their feet. Freddie Mac’s chief economist expects rates to rise at least somewhat during the second half of the year. Fannie Mae’s chief economist thinks rates will stay flat most of the year, but may go up a tick the last quarter. And he’s hopeful lenders will work with more buyers with good credit scores. BUSINESS TIP OF THE WEEK…Don’t fall victim to “analysis paralysis,” putting off a decision until you’ve evaluated every possible option. Successful people just focus on the critical details, then act. >> Review of Last Week SOMEHOW STAYING POSITIVE…From little guys to big time investors, we’re all trying to keep our spirits up on the good news and patiently wait out the bad. This week had a bit of both, ending Friday with the disappointing report that France lost its “AAA” credit rating and Italy and Spain are expected to drop a couple of notches in their ratings as well. But investors found enough encouragement to help stocks post a modest gain for the second trading week of the year. One thing that made everyone upbeat was the latest University of Michigan Consumer Sentiment, which shot up from December’s 69.9 to a preliminary reading of 74.0 for January, its highest level since May 2011. But disappointing news came with December Retail Sales–up just 0.1% overall and down 0.2%, excluding autos. The Fed’s Beige Book noted a modest increase in economic activity but said nothing to allay concerns over the slow pace of recovery. Finally, the trade deficit grew to $47.8 billion with a drop in exports. For the week, the Dow ended UP 0.5%, at 12422; the S&P 500 closed UP 0.9%, to 1289; and the Nasdaq gained 1.4%, to 2711. The bond market enjoyed the benefits of the flight to safety by investors who had new reasons to fret over the European sovereign debt situation. The FNMA 3.5% bond we watch ended the week UP .03, at $103.08. National average rates for all types of mortgages tracked by Freddie Mac hit new lows for the week ending last Thursday. DID YOU KNOW?…Inflation is the overall general upward price movement of goods and services in an economy, usually as measured by this week’s Consumer Price Index (CPI) and Producer Price Index (PPI). >> This Week’s Forecast HOME BUILDING, EXISTING HOME SALES, INFLATION… Housing news comes Thursday with December Housing Starts and Building Permits gauging the state of new construction. The annual rates are expected to dip a little, staying just under 700,000. Friday’s Existing Home Sales for December are expected to rise to 4.57 million, which is encouraging. The week also features December PPI wholesale inflation readings, forecast holding in safe territory, and consumer CPI inflation numbers, also predicted to hold steady. Monday, U.S. markets are closed in observance of Martin Luther King, Jr., Day. >> The Week’s Economic Indicator Calendar Weaker than expected economic data tends to send bond prices up and interest rates down, while positive data points to lower bond prices and rising loan rates. Economic Calendar for the Week of Jan 16 – Jan 20 Date Time (ET) Release For Consensus Prior Impact Tu Jan 17 08:30 NY Empire State Manufacturing Jan 10.0 9.5 Moderate W Jan 18 08:30 Producer Price Index (PPI) Dec 0.1% 0.3% Moderate W Jan 18 08:30 Core PPI Dec 0.1% 0.1% Moderate W Jan 18 09:15 Industrial Production Dec 0.5% -0.2% Moderate W Jan 18 09:15 Capacity Utilization Dec 78.1% 77.8% Moderate Th Jan 19 08:30 Initial Unemployment Claims 1/14 387K 399K Moderate Th Jan 19 08:30 Continuing Unemployment Claims 1/7 3.613M 3.628M Moderate Th Jan 19 08:30 Consumer Price Index (CPI) Dec 0.1% 0.0% HIGH Th Jan 19 08:30 Core CPI Dec 0.1% 0.2% HIGH Th Jan 19 08:30 Housing Starts Dec 670K 685K Moderate Th Jan 19 08:30 Building Permits Dec 680K 681K Moderate Th Jan 19 10:00 Philadelphia Fed Manufacturing Jan 10.0 10.3 HIGH Th Jan 19 11:00 Crude Inventories 1/14 NA 4.958M Moderate F Jan 20 10:00 Existing Home Sales Dec 4.57M 4.42M Moderate >> Federal Reserve Watch Forecasting Federal Reserve policy changes in coming months… The experts expect the Fed Funds Rate to stay at super low levels. Note: In the lower chart, a 1% probability of change is a 99% certainty the rate will stay the same. Current Fed Funds Rate: 0%–0.25% After FOMC meeting on: Consensus Jan 25 0%–0.25% Mar 13 0%–0.25% Apr 25 0%–0.25% Probability of change from current policy: After FOMC meeting on: Consensus Jan 25 <1% Mar 13 <1% Apr 25 <1% This e-mail is an advertisement for Allen Quinney. The material provided is for informational and educational purposes only and should not be construed as investment and/or mortgage advice, or a commitment to lend. Although the material is deemed to be accurate and reliable, there is no guarantee of its accuracy. The material contained in the newsletter is the property of PrimeLending, A PlainsCapital Company and cannot be reproduced for any use without prior written consent. It is designed for real estate and other financial professionals only. It is not intended for consumer distribution. The material does not represent the opinion of PrimeLending, A PlainsCapital Company. © 2012 PrimeLending, A PlainsCapital Company. Trade/service marks are the property of PlainsCapital Corporation, PlainsCapital Bank, or their respective affiliates and/or subsidiaries. Some products may not be available in all states. This is not a commitment to lend. Restrictions apply. All rights reserved. PrimeLending, A PlainsCapital Company (NMLS no: 13649) is a wholly-owned subsidiary of a state-chartered bank and is an exempt lender in the following states: AK, AR, CO, DE, FL, GA, HI, ID, IA, KS, KY, LA, MN, MS, MO, MT, NE, NV, NY, NC, OH, OK, OR, PA, SC, SD, TN, TX, UT, VA, WV, WI, WY. Licensed by: AL State Banking Dept.- consumer credit lic no. MC21004; AZ Dept. of Financial Institutions- mortgage banker lic no. BK 0907334; Licensed by the Department of Corporations under the California Residential Mortgage Lending Act- lender lic no. 4130996; CT Dept. of Banking- lender lic no. ML-13649; D.C. Dept. of Insurance, Securities and Banking- dual authority lic no. MLO13649; Illinois Residential Mortgage Licensee, IL Dept of Financial and Professional Regulation, – lender lic no. MB.6760635; IN Dept. of Financial Institutions- sub lien lender lic no. 11169; ME Dept. of Professional & Financial Regulation- supervised lender lic no. SLM8285; MD Dept. of Labor, Licensing & Regulation- lender lic no. 11058; Massachusetts Division of Banking– lender & broker license nos. MC5404, MC5406, MC5414, MC5450, MC5405; MI Dept. of Labor & Economic Growth- broker/lender lic nos. FR 0010163 and SR 0012527; Licensed by the New Hampshire Banking Department- lender lic no. 14553-MB; NJ Dept. of Banking and Insurance-lender lic no. 0803658; NM Regulation and Licensing Dept. Financial Institutions Division- lender license no. 01890; ND Dept. of Financial Institutions- money broker lic no. MB101786; RI Division of Banking- lender lic no. 20102678LL and broker lic no. 20102677LB; TX OCCC Reg. Loan License- lic no. 7293; VT Dept. of Banking, Insurance, Securities and Health Care Administration- lender lic no. 6127 and broker lic no. 0964MB; WA Dept. of Financial Institutions-consumer lender lic no. 520-CL-49075. PrimeLending, A PlainsCapital Company is an Equal Housing Opportunity Lender. NMLS #213518 This email was sent to aquinney@primelending.com. You may unsubscribe from future advertisement e-mails from Allen Quinney. Click here to unsubscribe ::please DO NOT change the subject line of the email, send it as it is.

Allen Quinney MLO 213-518

253-722-8565 | aquinney

On the web http://www.nwhomeloans.net

Snow in Seattle/Tacoma?

I can see in the forecast and all over social media that snow is predicted in our forecast here in Tacoma and Seattle. I can also see all the excitement… Well, I for one do not share in this optimism regarding snow! I say, “Stay in the hills where it belongs!”

Although I have heard that playing in the snow is a lot of fun such as snowboarding, skiing, tubing etc… it’s not for me. Fortunately for all of us around the Seattle Tacoma area we have mountains and hills covered in snow only an hour away. Therefore, there is no need for it here in town!

With all that being said perhaps my only issue is that I have never been on a snowmobile? I have never gone skiing or snowboarding? I know many of you are avid winter sports enthusiast so share with me, would I in fact change my perspective on snow if I went out and had a good time in it? Maybe instead of griping about the snow in town here in Seattle and Tacoma and the adverse affects on traffic and such I could instead see snow in the forecast amazing opportunity up on the slopes?

Let me know if I am truly missing out on the joy that is snow or am I correct in the belief that when it lands in the city it’s noting but annoying!

Allen Quinney MLO 213-518

PrimeLending | Mortgage Loan Originator

253-722-8565 | aquinney

On the web http://www.nwhomeloans.net

Washington State Mortgage Interest Rates

Mortgage Interest Rates continue to dance around record lows which offers a great opportunity for the residents of Washington State to Purchase or Refinance that perfect piece of real estate.

However, as directed by the Federal Housing Finance Agency (FHFA), Fannie Mae is required to increase the guarantee fee charged for all mortgages delivered on or after April 1, 2012. What does this mean? Rates on Fannie Mae loans may go up after this change next April 1st. So if you’ve been waiting on rates, now is a great time to “get off the fence.” Waiting could cost you dearly!

Fast closings, phenomenal service, extensive knowledge and historically low interest rates = Perfect time to Refinance or Purchase Real Estate! Call or email me today!

Allen Quinney MLO 213-518

253-722-8565 | aquinney

On the web http://www.nwhomeloans.net

10 tips to make your home air- and water-tight PLUS…8 things to consider with low-cost, no-contract cell phone plans

Allen Quinney Loan Officer 812 E Main Puyallup, WA 98372 Office: 253-238-0029 Mobile: 253-722-8565 my website 10 tips to make your home air- and water-tight PLUS…8 things to consider with low-cost, no-contract cell phone plans Caulk creates a flexible seal in cracks, gaps or joints no bigger than 1/4" to 3/8" in width. Caulking will seal air leaks, especially around windows and door frames. It also prevents water damage when applied around faucets, water pipes, bathtubs and other plumbing fixtures. For larger openings, you can use insulating foam sprays to seal up gaps between siding and masonry or vents. Here are some tips: 1. Clean all areas to be caulked. Use a putty knife or large screwdriver to remove old caulk and paint and make sure the area is dry. 2. Hold the caulking gun at a consistent angle–45 degrees to get deep into the crack. You’re at the correct angle when the caulk goes in immediately as it comes out of the tube. 3. Apply the caulk in one straight continuous stream, without stops and starts. 4. Avoid bubbles by sending caulk to the bottom of the opening. 5. Make sure the caulk is sticking to both sides of the crack. 6. If caulk oozes out of the crack, push it back in with a putty knife. 7. If the caulk shrinks, reapply it, forming a smooth bead that seals the crack completely. 8. For windows, apply caulk to all joints in the frame and to the joint between frame and wall. 9. If the crack is deep, use a "backer rod"

Internet Service Providers; Clearwire VS Comcast

 

As I am sure you can tell from my blog I typically do not blog about random subjects but tend to stick to my mortgage business…

However, today I have reached my boiling point regarding Clearwire internet service.  Previously I had been with Comcast and after about 6 years of loyal service I decided to make a switch.  Mainly because as a family we stream more Netflix through our Xbox than we watched actual cable televisions and once we decided to drop the cable, Comcast jacked up our internet cost to over $65/month!  So I figured there has to be someone as good but less expensive…  Boy, was I wrong!

I hate the fact that Comcast has a  monopoly over my city here in Washington State.  In this area of the city Centrylink only has 1.5 mgb and the other local ISP, Rainier Connect doesn’t have cables run to my neighborhood.  The other companys well, they dont exist!  So Clear was the only other choice.  The salesman said that my area was very close to a tower, which it is.  I can see it from my window.  He said my modem would receive full service here and that my speeds would be around 7 MGB which is far less than what I had with Comcast.  When I pointed that out he said that their 7MGB would be nearly as fast because I wouldn’t be sharing bandwidth with other users like cable…  I thought it sounded outlandish but hey, he’s the pro right?

Well my modem has all 5 bars of service.  My linksys router has 4 out of 5 bars of service and yet my Xbox can’t stream a movie on my big screen for longer than 5 mintutes without stopping to buffer and catch up to playback!  I just did a ping test and speed check and it came back with 1.6MBP with full service and a “clear” view of the tower that is less than 1 mile away from my window!  Clearwire Internet Service is CRAP!  My cell phone can stream videos better!

I had decided to switch from Comcast because I thought another company has to be capable of coming close to this conglomerates speeds and figured I could save a buck or two along the way.  Not a chance!  Comcast has their thumb on my internet service and for that I say Boo Comcast and #@$$ to Clearwire!  I guess it’s time to go back to Comcast and just accept their firm grasp as Kingpin ISP around here.

Puyallup Real Estate and Mortgage Market

The Puyallup Real estate market has amazing deals everywhere! Just last week one of my clients purchased a newer home with 1800 square feet 3 bedrooms 2.5 baths and and 2 car garage for only $149,000!! I provided the mortgage services in which their payment was substantially less than the rent they were paying!

My loan programs include conventional financing as well as all government loans including FHA, VA and USDA. I am also able to arrange down payment assistance for those who qualify! Contact Allen Quinney with PrimeLending Today!

Allen Quinney MLO 213-518

253-722-8565 | aquinney

On the web http://www.nwhomeloans.net

Time to get off the fence

Here’s some important news about interest rates that you really need to see:

As directed by the Federal Housing Finance Agency (FHFA), Fannie Mae is required to increase the guarantee fee charged for all mortgages delivered on or after April 1, 2012. What does this mean? Rates on Fannie Mae loans may go up after this change next April 1st. So if you’ve been waiting on rates, now is a great time to “get off the fence.” Waiting could cost you dearly!

Please give us a call or email to discuss your unique situation and so we may answer any questions you have.

Thanks and have a great New Year!

visit my website email me now
	Allen Quinney Loan Officer  812 E Main Puyallup, WA 98372 Office: 253-238-0029 Mobile: 253-722-8565

Terms and conditions apply; Rates subject to change. As always, please consult your tax advisor.
This e-mail is an advertisement that was sent to you because of your relationship with Allen Quinney. The material provided is for informational and educational purposes only and should not be construed as investment and/or mortgage advice. Although the material is deemed to be accurate and reliable, there is no guarantee of its accuracy. The material contained in the newsletter is copyrighted by PrimeLending, A PlainsCapital Company and cannot be reproduced for any use without prior written consent. PrimeLending, A PlainsCapital Company is an Equal Housing Lender. © 2011 PrimeLending, A PlainsCapital Company. Trade/service marks are the property of PlainsCapital Corporation, PlainsCapital Bank, or their respective affiliates and/or subsidiaries. Some products may not be available in all states. This is not a commitment to lend. Restrictions apply. All rights reserved. PrimeLending, A PlainsCapital Company (NMLS no: 13649) is a wholly-owned subsidiary of a state-chartered bank and is an exempt lender in the following states: AK, AR, CO, DE, FL, GA, HI, ID, IA, KS, KY, LA, MN, MS, MO, MT, NE, NV, NY, NC, OH, OK, OR, PA, SC, SD, TN, TX, UT, VA, WV, WI, WY. Licensed by: AL State Banking Dept.- consumer credit lic no. MC21004; AZ Dept. of Financial Institutions- mortgage banker lic no. BK 0907334; Licensed by the Department of Corporations under the California Residential Mortgage Lending Act- lender lic no. 4130996; CT Dept. of Banking- lender lic no. ML-13649; D.C. Dept. of Insurance, Securities and Banking- dual authority lic no. MLO13649; Illinois Residential Mortgage Licensee, IL Dept of Financial and Professional Regulation, – lender lic no. MB.6760635; IN Dept. of Financial Institutions- sub lien lender lic no. 11169; ME Dept. of Professional & Financial Regulation- supervised lender lic no. SLM8285; MD Dept. of Labor, Licensing & Regulation- lender lic no. 11058; Massachusetts Division of Banking– lender & broker license nos. MC5404, MC5406, MC5414, MC5450, MC5405; MI Dept. of Labor & Economic Growth- broker/lender lic nos. FR 0010163 and SR 0012527; Licensed by the New Hampshire Banking Department- lender lic no. 14553-MB; NJ Dept. of Banking and Insurance-lender lic no. 0803658; NM Regulation and Licensing Dept. Financial Institutions Division- lender license no. 01890; ND Dept. of Financial Institutions- money broker lic no. MB101786; RI Division of Banking- lender lic no. 20102678LL and broker lic no. 20102677LB; TX OCCC Reg. Loan License- lic no. 7293; VT Dept. of Banking, Insurance, Securities and Health Care Administration- lender lic no. 6127 and broker lic no. 0964MB; WA Dept. of Financial Institutions-consumer lender lic no. 520-CL-49075. PrimeLending, A PlainsCapital Company is an Equal Housing Opportunity Lender. NMLS #213518

This email was sent to aquinney@primelending.com.
You may unsubscribe from future advertisement e-mails from Allen Quinney.
Click here to unsubscribe :: please DO NOT change the subject line of the email, send it as it is.

Allen Quinney MLO 213-518

253-722-8565 | aquinney

On the web http://www.nwhomeloans.net

Mortgage Update From Allen Quinney

visit my website email me now Allen Quinney Loan Officer 812 E Main Puyallup, WA 98372 Office: 253-238-0029 Mobile: 253-722-8565 For the week of January 9, 2012 – Vol. 10, Issue 2 >> Market Update QUOTE OF THE WEEK…“Opportunities are disguised by hard work, so most people don’t recognize them.”–Ann Landers INFO THAT HITS US WHERE WE LIVE…The latest opportunity in real estate came December 28, when the Federal Housing Administration extended the waiver of its “anti-flipping” rule through the end of 2012. This lets homebuyers, who need FHA-insured financing, purchase homes that were bought by the seller in the last 90 days. And it gives investors looking to rehab and flip properties an expanded market, including first-time homebuyers and others without large down payments, who need FHA-backed loans. The Mortgage Bankers Association (MBA) reported that during 2011, near-record-low mortgage rates drove more homeowners to seek refinancing, moving that MBA index up more than 60%. But demand for purchase loans fell versus 2010, although that year’s activity was boosted by the homebuyer tax credit incentives. BUSINESS TIP OF THE WEEK…It’s great to get organized at the start of a new year. The key is to begin. Focus on just one project. Then break it down into smaller parts and accomplish one thing each day, or week, until done! >> Review of Last Week UP START…For investors, 2012 began in the right direction as stocks ended the first week of the year UP. But this result was due mainly to an upsurge on Tuesday that was big enough to offset tepid performances the next three days, when traders got jittery over Europe. Spain was in the spotlight again, with new player Hungary now adding to the financial uncertainty. The net result was a weaker Euro, falling about 0.6% to a new 16-month low of $1.27. Time to take that European vacation. Encouragement came with manufacturing growing in December at its fastest pace in six months. Weekly initial jobless claims dropped again, to 372,000. The December employment report was an upside surprise, with 200,000 new nonfarm jobs showing up and the unemployment rate inching down to 8.5%. But a fewobservers were concerned there’s probably some seasonality in those numbers. ISM Services, which tracks the sector responsible for over 80% of U.S. jobs, came in a little lower than expected, although still in growth territory. For the week, the Dow ended UP 1.2%, at 12360; the S&P 500 closed UP 1.6%, to 1278; and the Nasdaq gained 2.7%, to 2674. The bond market elicited mixed results for the week, with Treasuries trending lower, but continuing Euro worries supported prices elsewhere. The FNMA 3.5% bond we watch ended the week UP .78, at $103.05. Average fixed mortgage rates across the U.S. started the new year at or near record lows as tracked by Freddie Mac’s weekly survey. DID YOU KNOW?…”Home on the Range” is one of the most famous songs with “home” in its title. It was written by Dr. Brewster Higley in 1876 and is the official state song of Kansas. >> This Week’s Forecast FED OPINIONS, HOLIDAY SHOPPING, EXPORTS AND CONSUMER FEELINGS… Wednesday, the Fed’s Beige Book reveals views on the economy from Federal Reserve Districts around the country. Thursday will gauge the consumer’s enthusiasm for holiday shopping, as measured by December Retail Sales, forecast to be up. The week ends with the November Trade Balance, expected to grow (not so good) and Michigan Consumer Sentiment, also predicted to increase (good). >> The Week’s Economic Indicator Calendar Weaker than expected economic data tends to send bond prices up and interest rates down, while positive data points to lower bond prices and rising loan rates. Economic Calendar for the Week of Jan 9 – Jan 13 Date Time (ET) Release For Consensus Prior Impact W Jan 11 10:30 Crude Inventories 1/7 NA 2.209M Moderate W Jan 11 14:00 Fed’s Beige Book Jan NA NA Moderate Th Jan 12 08:30 Initial Unemployment Claims 1/7 375K 372K Moderate Th Jan 12 08:30 Continuing Unemployment Claims 12/31 3.588M 3.595M Moderate Th Jan 12 08:30 Retail Sales Dec 0.4% 0.2% HIGH Th Jan 12 08:30 Retail Sales ex-auto Dec 0.4% 0.2% HIGH Th Jan 12 10:00 Business Inventories Nov 0.5% 0.8% Moderate F Jan 13 08:30 Trade Balance Nov -$44.3B -$43.5B Moderate F Jan 13 09:55 Univ. of Michigan Consumer Sentiment Jan 71.0 69.9 Moderate >> Federal Reserve Watch Forecasting Federal Reserve policy changes in coming months…Economists believe the Fed Funds Rate will stay at super low levels for awhile. Note: In the lower chart, a 1% probability of change is a 99% certainty the rate will stay the same. Current Fed Funds Rate: 0%–0.25% After FOMC meeting on: Consensus Jan 25 0%–0.25% Mar 13 0%–0.25% Apr 25 0%–0.25% Probability of change from current policy: After FOMC meeting on: Consensus Jan 25 <1% Mar 13 <1% Apr 25 <1% This e-mail is an advertisement for Allen Quinney. The material provided is for informational and educational purposes only and should not be construed as investment and/or mortgage advice, or a commitment to lend. Although the material is deemed to be accurate and reliable, there is no guarantee of its accuracy. The material contained in the newsletter is the property of PrimeLending, A PlainsCapital Company and cannot be reproduced for any use without prior written consent. It is designed for real estate and other financial professionals only. It is not intended for consumer distribution. The material does not represent the opinion of PrimeLending, A PlainsCapital Company. © 2011 PrimeLending, A PlainsCapital Company. Trade/service marks are the property of PlainsCapital Corporation, PlainsCapital Bank, or their respective affiliates and/or subsidiaries. Some products may not be available in all states. This is not a commitment to lend. Restrictions apply. All rights reserved. PrimeLending, A PlainsCapital Company (NMLS no: 13649) is a wholly-owned subsidiary of a state-chartered bank and is an exempt lender in the following states: AK, AR, CO, DE, FL, GA, HI, ID, IA, KS, KY, LA, MN, MS, MO, MT, NE, NV, NY, NC, OH, OK, OR, PA, SC, SD, TN, TX, UT, VA, WV, WI, WY. Licensed by: AL State Banking Dept.- consumer credit lic no. MC21004; AZ Dept. of Financial Institutions- mortgage banker lic no. BK 0907334; Licensed by the Department of Corporations under the California Residential Mortgage Lending Act- lender lic no. 4130996; CT Dept. of Banking- lender lic no. ML-13649; D.C. Dept. of Insurance, Securities and Banking- dual authority lic no. MLO13649; Illinois Residential Mortgage Licensee, IL Dept of Financial and Professional Regulation, – lender lic no. MB.6760635; IN Dept. of Financial Institutions- sub lien lender lic no. 11169; ME Dept. of Professional & Financial Regulation- supervised lender lic no. SLM8285; MD Dept. of Labor, Licensing & Regulation- lender lic no. 11058; Massachusetts Division of Banking– lender & broker license nos. MC5404, MC5406, MC5414, MC5450, MC5405; MI Dept. of Labor & Economic Growth- broker/lender lic nos. FR 0010163 and SR 0012527; Licensed by the New Hampshire Banking Department- lender lic no. 14553-MB; NJ Dept. of Banking and Insurance-lender lic no. 0803658; NM Regulation and Licensing Dept. Financial Institutions Division- lender license no. 01890; ND Dept. of Financial Institutions- money broker lic no. MB101786; RI Division of Banking- lender lic no. 20102678LL and broker lic no. 20102677LB; TX OCCC Reg. Loan License- lic no. 7293; VT Dept. of Banking, Insurance, Securities and Health Care Administration- lender lic no. 6127 and broker lic no. 0964MB; WA Dept. of Financial Institutions-consumer lender lic no. 520-CL-49075. PrimeLending, A PlainsCapital Company is an Equal Housing Opportunity Lender. NMLS #213518 This email was sent to aquinney@primelending.com. You may unsubscribe from future advertisement e-mails from Allen Quinney. Click here to unsubscribe ::please DO NOT change the subject line of the email, send it as it is.

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