Mortgage rates ride stocks to new record lows for 2010. Par rates on 30 year fixed rate mortgages have fallen to 4.5% to 4.75% for qualified borrowers. Although it is tempting to float your interest rate during these current market conditions, it would be wise to lock in at these attractive rates before banks further tighten their lending policies.

Many consumers are riding out the low interest only option ARMs they currently have. Some of these rates are as low as 3.875%. Why increase my monthly payment while I have 2 years remaining on my current 5/1 ARM loan? The answer is simple. Don’t get locked out on current fixed rates while gambling on the future. Any rally in the stock market over the next few weeks or months will push interest rates higher.

There are many other economic factors to consider before locking in on fixed mortgage rates. Indications are that a favorable report on unemployment figures is due. Any increase in employment will push interest rates higher. Lending activities by banks are becoming more restrictive and will leave only a few very highly qualified borrowers with an option to refinance their current loans. The majority of home owners will be locked out of the ability to reduce their monthly mortgage payments. Borrowers should be proactive in obtaining the best financing that meets their current and future financial needs, while the market place is still open to them.

For the past year the Federal Reserve’s huge $1.25 trillion purchase program of mortgage backed securities has pushed rates to all time lows. The 30 year conventional fixed rate on a jumbo mortgage for instance is only 25 basis points higher than on a normal conventional loan. As of Nov. 10th the difference was almost a complete percentage point 6.24% vs. 5.19%.
Federal Reserve has signaled its intentions to wind down its purchase program as of the first quarter of 2010. As this news spreads rates surely will rise, even today by looking at the current rate sheets a 30yr fixed can be seen at 6% or higher. There is still some good news. First Time Home Buyers are still receiving the $8,000 tax credit, thanks to an extension on the act by congress and the creation of a $6,500 current homeowner’s relief credit.
As rates rise, your opportunity declines. This is one of the greatest times to secure a financially stable future for you and your family. Right now, with rates rising there are still opportunities to take advantage of today’s market. Lock yourself into a proper refinance or home loan with reasonable terms. Don’t wait for them to surpass the 6’s and ultimately lead on even higher.
At Aequor we will work hand and hand with you and our lenders to ensure you get the proper loan. We will find a loan that is going to have a true financial benefit to you as our client. Analyze all the different scenarios. We will take a hard look not only into your home loan but also your other finances to ensure you and your family has a prosperous future. Our ultimate goal is make sure American families are educated not only about their home loans but also about their finances to ensure they have stable futures. Reach out to me today, let my expertise and the team surrounding me help you and your family get on the right financial path.

With so many different loan programs that exist now, saving money has never been easier. One common misconception is that a 30 year fixed is the best and only way to go. This is certainly not the case.

Adjustable-rate mortgages, or ARMs, constitute one-third of home loans these days. Yet rates on 15- and 30-year fixed-rate mortgages are very low by historical standards. ARM rates are even lower, but they could rise when it's time for them to adjust. You're going to hear a lot of financial journalists who say these ARMs are dangerous, you're putting your house at risk, and you’re crazy to take an ARM at this time of historic lows. Unquestionably, there is a lot of emotion involved. After all, this is one of the biggest financial decisions of your life, and as with any argument, there is some truth in it.
It's true, that a long-term, fixed-rate mortgage is the right loan. If somebody says, I'm going to be in that house forever. That's an automatic 30-year fixed, but the average homeowner stays in the house about five to seven years. First-time home buyers, who usually are young and have expanding families and growing incomes, are likely to remain in their starter homes for just a few years before moving on and to a bigger house. Adjustable rates, especially the popular hybrid adjustable rates that carry an introductory rate that lasts three, five, or seven years, are appropriate for those whom a payment increase wouldn't be the end of the world. It depends simply on your current economic situation.
In conclusion, which loan program you choose should be a reflection of your long term goals. Call me so we can discuss which program is right for you. At Aequor Funding saving you money is our only objective.

The opportunity to refinance to a lower rate is still here and looks as though it may stay here till late 2010. Charles Evans who is President of the Federal Reserve Bank of Chicago and also a voting member of the Federal Open Market Committee said that due to a weak job market and the fact that inflation is running below his longer run objective the Target Federal Funds Rate could remain near zero till late 2010. The Target Federal Funds Rate is a short-term rate objective of the Federal Reserve Board; it is not the actual Federal Funds Rate which is the actual interest rate that depository institutions lend other depository institutions overnight. The real rate changes daily however it is closely tied to the Target Federal Funds Rate. What this simply translates to is “cheaper money.” The cost of loaning money has come down big time since you took out your mortgage and now your opportunity to refinance, lower your monthly payment and ultimately save thousands of dollars in interest payments over the life of your loan is here. Another opportunity that has risen out of this is the opportunity to be able to be able to afford to “cash out,” money maybe for college, credit cards debts, etc. and keep your monthly payment the same or even LOWER!
Call me today and within 15 minutes I will have all the information I need from you to decide what works best for you and your family and I will offer different scenarios to you, showing you all the pro’s and con’s of each. All it takes is one phone call and within three weeks you may be saving hundreds if not thousands of dollars a month. I always tell my clients that I will not pursue a deal unless it makes “financial sense.” When I say financial sense I mean significant and tangible financial savings. At the very least you can find out if the opportunity is out there for you today to put yourself in a better financial position and eliminate some if not all of the financial burden and stress in your life right now. Call me today for a free consultation at 732-650-8696 ext. 2005.

Interest rates are at historical lows, and as history shows they will not stay this low for long and in fact there is only one way for them to go and that is up. If you are currently a homeowner that is in an arm, the number one thing on your to do list should be to refinance and lock into a low rate while you still can. At this point in time, waiting to refinance in hopes that interest will go down is just foolish.
Lately we have seen some signs of economic recovery; however job stability is still uncertain for many. Many families are still tight on money and are still running up their credit cards as a means to stay afloat. For those families that find themselves in this situation yet have the income, credit, and equity to refinance, now may be your last chance to be rescued from financial collapse.
The steps to financial rescue are simple at AEQUOR Funding Corp. Simply refinance your mortgage, consolidate your debt, lock in at a lower interest rate, and even take some money out to put into your checking account. When is the last time you saw five digits in your checking account? We can do that for you, we can also eliminate all your credit card payments while simultaneously lowering your mortgage payment and putting money in your checking account. This may seem too good to be true but it’s not! AEQUOR funding can consolidate your stress, eliminate your worry, and increase your happiness. YES WE CAN!