The New Year is Upon Us. Make '2012' the Year of YOU!
The headline reads ...
Average 30-year mortgage rate a record 3.91 pct.
Average rate on 30-year fixed mortgage falls to record 3.91 pct., 15-year flat at 3.21 pct.
And yes ... this means if you're one of those that have earned good credit scores, you could receive this record low interest rate for your mortgage.
Remarkable, isn't it?? And to just prove how very remarkable it is ... I tell you, I've been in the mortgage business for 35 years and when I started out back in the mid-1970's, the average mortgage rate was in the 6% range. Again I say, remarkable!
But this post isn't really meant for those that have good credit scores. (Although I hope you read it and take action to contact me too!) No, it's message is meant especially for those that DO NOT have stellar credit or credit scores ...
Why? Because perhaps even MORE remarkable than this much-broadcasted historical low rate ... is the prediction by many top financial analysts that these rates (or something close to them) are projected to last well into the New Year of 2012. And THAT means that even those without good credit scores presently may have time to improve their scores and still take advantage of good rates in the near future.
I call THAT extremely remarkable too! Perhaps even more so.
So here are my questions for you: Does that sound like YOU??? And if it does describe your present credit scores ... and you hope to buy a home someday ... what are you going to do about it?? Are you going to remain on the sidelines and let this unbelievably good opportunity slip through your fingers??
The New Year is upon us. Does YOUR New Year resolution for 2012 include improving your credit habits and credit scores? Does your resolution include the possibility of a new home? Home OWNERSHIP to fulfill your dreams?? If so, NOW is the time to act.
As the old saying goes, "A journey of a thousand miles begins with a single step". Improving your credit is a journey. Take that single step by contacting me now ... or your mortgage lender ... to get started on your personal journey to credit improvement or repair for 2012. And I say that whether your future holds the wish for a new home, home ownership, or just better opportunities for employment, better insurance rates, improved cell phone costs, or any of a hundred different ways your life can improve with better credit scores.
When you can save money ... When you can improve your life ... When you can make life easier for yourself by taking this important step ... When you can fulfill your dreams ... WHY wouldn't you? WHY aren't you??
It's so easy to do. So very easy to get started. ONE phone call, or email, or text ... I'm that close and that easy to contact. Reach out. Send me your request. Call. Text. Click this button. Make 2012 the year you ACT. Reach out to me however is most easy or convenient for you and get started. Credit improvement does take time to accomplish. And although they say these fantastic interest rates are going to hang around awhile, that amount of time may be needed to make the improvements required.
Don't lose out and be sorry later! You owe it to yourself to inquire, to ask questions, to take action. Let's get started together on those credit improvements today. I'll be glad to hear from you ...
And yes ... this means if you're one of those that have earned good credit scores, you could receive this record low interest rate for your mortgage.
Remarkable, isn't it?? And to just prove how very remarkable it is ... I tell you, I've been in the mortgage business for 35 years and when I started out back in the mid-1970's, the average mortgage rate was in the 6% range. Again I say, remarkable!
But this post isn't really meant for those that have good credit scores. (Although I hope you read it and take action to contact me too!) No, it's message is meant especially for those that DO NOT have stellar credit or credit scores ...
Why? Because perhaps even MORE remarkable than this much-broadcasted historical low rate ... is the prediction by many top financial analysts that these rates (or something close to them) are projected to last well into the New Year of 2012. And THAT means that even those without good credit scores presently may have time to improve their scores and still take advantage of good rates in the near future.
I call THAT extremely remarkable too! Perhaps even more so.
So here are my questions for you: Does that sound like YOU??? And if it does describe your present credit scores ... and you hope to buy a home someday ... what are you going to do about it?? Are you going to remain on the sidelines and let this unbelievably good opportunity slip through your fingers??
The New Year is upon us. Does YOUR New Year resolution for 2012 include improving your credit habits and credit scores? Does your resolution include the possibility of a new home? Home OWNERSHIP to fulfill your dreams?? If so, NOW is the time to act.
As the old saying goes, "A journey of a thousand miles begins with a single step". Improving your credit is a journey. Take that single step by contacting me now ... or your mortgage lender ... to get started on your personal journey to credit improvement or repair for 2012. And I say that whether your future holds the wish for a new home, home ownership, or just better opportunities for employment, better insurance rates, improved cell phone costs, or any of a hundred different ways your life can improve with better credit scores. When you can save money ... When you can improve your life ... When you can make life easier for yourself by taking this important step ... When you can fulfill your dreams ... WHY wouldn't you? WHY aren't you??
It's so easy to do. So very easy to get started. ONE phone call, or email, or text ... I'm that close and that easy to contact. Reach out. Send me your request. Call. Text. Click this button. Make 2012 the year you ACT. Reach out to me however is most easy or convenient for you and get started. Credit improvement does take time to accomplish. And although they say these fantastic interest rates are going to hang around awhile, that amount of time may be needed to make the improvements required.
Don't lose out and be sorry later! You owe it to yourself to inquire, to ask questions, to take action. Let's get started together on those credit improvements today. I'll be glad to hear from you ...
Gene Mundt, Sr. Vice President
Personal NMLS #216987
The Federal Savings Bank
1823 Centre Point Circle, Naperville, IL 60563
Skype! 630-219-1316
Good credit and the availability of funds is important to a healthy real estate market.
Do you also do commercial lending and what are the current rates ?
Hope 2012 will be prosperous for all !
cheers
Nor
www.envoycapitol.com
You know it's funny to think that if Sub Prime was still around a high risk buyer could get a rate around 5 or 6% which a year ago was a great rate. It's a good life.
The rates are amazing. Thanks for your post - good ideas to tell buyers. Merry Christmas!
We are not a commercial lender.... AT THIS TIME. There will be a time in 2012 when we will be in a position to do so, but do not mistake that as our primary focus. Residential lending on 1-4 unit properties, FHA, VA, and Conventional Loan programs will remain our main expertise. For larger projects, we DO have an asset-based loan that is a replacement for a lack of credit or income needed to qualify in the traditional lending scenario, but one must have substantial stock, bond, or mutual fund portfolios to take advantage. It can be a perfect solution for more challenging investments or challenged investors.
Thanks for the question ... Happy Holidays to you!
Under 4% is amazing. Still! Here's to 2012 being an awesome year for us all!
I have a great feeling about 2012! With leads and contracts in the pipeline, great interest rates and a positive attitude, you can't fail.
Hi Gene,
Well, I'm more of a dinosoar than you, I've been full-time REALTOR (in the trenches) since 1971. Rates today are even lower than when I purchased my first home and that was in the late 1960's. And since you/we go back so far, we both remember the days of 17 & 18% rates on a first.
Today I'm astounded at rate prices today, who would have ever thunk it?
When I first started in the mortgage business, the rates were 14% and soon topped out at those 18% rates. At that time, as an employee I bought my first house at an employee rate of 4.25%. Employees were the envy of all. Now look at the rate, below that, wow wee. (I Know the employee thing only works back in the UK but it was a sweet deal at the time.)
Have a very Merry Christmas Gene, with those 2 grand kids, it'll be fun for sure.
I had a 14% interest house mortgage and a 17% interest car note in the 80s. I wish I could refi, but I'm just NOT willing to pay PMI and I know I no longer would have a 80% LTV after values dropped. Thankfully my house is still valued at around the amount I owe.
Without the availability of credit on reasonable terms and at a reasonable price the real estate market would be frozen. We have seen the effect of credit that was when the qualifying criteria was too lax. Now we are experiencing the opposite. When will the lenders get it right?
This is great information to have and also a great time to talk to clients as they make their "resolutions" for the New Year... improving credit can be one of them. Thanks for the post!
So Very True, great blog. Love the journey begins with the first step!
There are plenty of ironies in this business, that's for sure, Joe. Times they keep a-changin' ...
Joy: Thanks for the thumbs-up on the post's message. I hope it proves beneficial to your clients during the New Year.
I'm sure hoping so, Nancy! And that they take prompt action ...
Tammie: It CAN be great news for those willing to hear ... and then act. In Franklin, TN and surrounding area ... they should contact you for a mortgage lending referral ... then for assistance in finding the perfect home with their newly improved credit!
Eric: Hear! Hear! I second that!
Kerry: I agree ... something is telling me that there are wonderful possibilities that exist within the New Year. I wish the best for you and much prosperity ...
Lynda: Just think of what we've experienced and seen between the two of us!! The stories we could tell, right??? And ohhhhh ... don't mention the 80's high rates!! But if we could survive that ... we will be okay at the end of these current challenges too. Best of luck to you during the New Year!
Wow, Corinne! That's some employee benefit. And I've seen rates up .. down .. and inbetween over the years. The rates we are experiencing now are a godsend to those that can ... or will ... work to utilize them. Definitely worth looking into! And we're going to see the grandkids multiple times in the next few days. Will make for the perfect Christmas. I wish perfect holidays for you and yours too ...
Tammy: You are eligible to refinance without paying MI if your current mortgage is issued before April 2009 ... if your mortgage is held by Fannie Mae or Freddie Mac. And if there is NO 2nd mortgage ... and if credit and income qualify. For more info ... contact me ... I'll help, if possible ...
Juan: The market and mortgage lenders have been over-correcting past issues, that's for sure. Still ... with the right assistance and professionals at their side, buyers CAN navigate mortgage processing to a successful purchase. That is where you and I, as a mortgage lender, come in. Borrowing is challenging, but not impossible ...
Luis: Definitely! And hopefully the momentum continues well into the New Year and beyond ...
Linda: And you and I must help them stick to their "resolutions"! Glad you found the post helpful ...
Happy Holidays!
Gene
Yvonne: Thank you! I think it helped get the point across ... glad you agreed!
Gene
Very motivational post for potential 2012 homebuyers. This educates and offers hope to those looking to improve their credit and purchasing power.
Excellent point. There still may be time to raise the credit score if these rates stay so low.
Your right if your credit is not good now, sometimes just a few months of great effort can get you to the point of being able to buy. Buyers need to do this now!
Low prices...
Low interest rates,..
Abundant inventory..
Sounds like buyer heaven to me...
Phil
In my market I hear home buyers still say all the time: naah, I wait...prices will still go down....
it makes me want to strangle them!
Let's hope 2012 is great!
Gene, a very good point! The time to improve those credit scores is now and not when someone decides to purchase a home. Good goal for home buyers in the coming year.
Good resolution....and 2012 will be the year we see YOU live and in person...all the best of the holidays to you and yours.
Hansons Both
Gene, good credit scores not only help you get better mortgage rates, lower credit card rates and maybe even lower insurance rates, it also helps sleeping at night.
Wow I never thought of that aspect of it! Being that people with poor scores have the opportunity to work on it in time to take advantage! Hopefully this year will be even a little better then last with the low rates being a good selling point! Merry Christmas Gene! Kiss that adorbale grandbaby for me!
Hi Gene,
Congrats on the feature..well deserved. What I loved was how you asked for the business! Merry Christmas and a Happy New Year to you and your family!!
Gene....who knows where it will go? I feel as if I have a direction, and for that....I'm thrilled! I think next year will be so prosperous for us. I'm planning a major, major income, and for many of the reasons you and I have spoken about, as well as some of the points you put in this post...I think that we'll hit it. Blessings and Merry Christmas!
I am looking for a new year and a great start to the year.
Liz: Right now, there are so many that could benefit from this type of assistance. And typically, most lending professionals provide this assistance and guidance free of charge ... so why not ask for that help? Now is the perfect time ...
John: Thank you ... I"m glad that you found the post provided some inspiration. It was exactly what I was hoping for ...
Kristi: From most of everything I am reading, it is very hopeful that the rates will stick around for well into the New Year ... providing many the time they need to be successful in raising their scores. All good news, I think!!
Chuck: Totally agree! Let's hope that many of those reading this agree too ...
Phil: Well put!
Gina: I was hearing much the same for quite awhile, but as of late ... not quite as much. Maybe that means they are slowly catching on??? We can hope ...
Dennis: I am in total agreement! With the New Year ... new hopes and re-gained confidence!
Michael: You said it! Preparations are needed, even for those with good credit. Especially so for those need improvement ...
Hansons Both! I would like that too ... and the sooner the better! Hoping your Day was a very good one ...
Shay: And perhaps THAT good nite's sleep is the best reason of all .... great point!
Rosalie: I got to kiss and hug both grandkids most of the day on Christmas Eve ... and will see them again tomorrow. Just can't get enough of them!! They certainly make this grandpa happy ... thanks for remembering them ...
Dorie: Thank you. I want to help ... it's pretty much that simple. I'm glad you thought that came across in my message ...
Larry: I'm excited about all the prospects that lie before me in the upcoming New Year. I believe all sorts of opportunities exist ...
Tim: I like you attitude! With an outlook like that, it will happen for you ... best of luck ...
Gene
lol Russel! GREAT pic and message! And yep, just what I'm doing today, as a matter of fact ...
Have a great New Year!
Gene
Hi Gene ~ I'm joining the discussion late, but wanted to congratulate you on the Feature -- well deserved! Buyers who are on the fence should be rushing to make an appointment with you to make sure they've done everything possible to quality for those fantastic low mortgage rates.
Hope that you and your family have a very Happy New Year and much success in 2012!
Good to hear from you, Maureen! And I agree ... getting pre-qualified, or at minimum running your credit to start credit improvement and/or repair is crucial ... LONG before starting the pursuit or viewing of homes.
I appreciate your kind sentiments. I hope that you and yours had a Happy Holiday and celebrate a joyous and prosperous New Year!
Gene