Interest Rates

Yesterday the Fed. cut the rate yet again….

The most frequently asked question I hear is how will it effect mortgage rates?  

The majority of financial advisers and loan officers I have spoken to have reaffirmed my opinion.   Fixed-rate mortgages, for the most part, do not change as a result to a cut in the federal funds rate.   We are hearing that this cut will have no impact on long-term mortgage rates.   There is some good news for adjustable rate mortgages.   These type of mortgages seem to be more responsive to the Federal Reserve decisions on rates.

Open House on October 19, 2008 at 14500 Swordale Ln.

On October 19, 2008 at 13:00 PM, you are invited to an Open House at 14500 Swordale Ln. in Bristow. If you are looking for a Single-family property in this area, don™t miss this rare opportunity to visit this magnificent property. For a preview of this Single-family property, check out my site at http://www.candiceskoby.com. Please do not hesitate to Contact Me if you have any questions or wish to schedule a private showing.

Open House on October 19, 2008 at 14500 Swordale Lane

On October 19, 2008 at 13:00 PM, you are invited to an Open House at 14500 Swordale Lane in Bristow. If you are looking for a Single-family property in this area, don™t miss this rare opportunity to visit this magnificent property. For a preview of this Single-family property, check out my site at http://www.candiceskoby.com. Please do not hesitate to Contact Me if you have any questions or wish to schedule a private showing.

OPEN HOUSE TOMORROW (Saturday 10:00-1:00)

                                                                                                                Open House
Saturday 18, 2008
(10:00-1:00)

15110 Gaffney Circle
Gainesville, Va 20155

If you are looking for a Single-family property in this area to rent, don™t miss this rare opportunity to visit this magnificent property. For a preview of this Single-family property, check out my site at http://www.candiceskoby.com. Please do not hesitate to Contact Me if you have any questions or wish to schedule a private showing.

Short-Term Help or A Step in the RIght Direction?

 How does the $250 Billion Bank Stabilization Program have anything to do with real estate?  

In my opinion the two go hand in hand, and if we want to actually see substantial growth and rebound in our market, both real estate and financial institutions need to be on the same path.

 This plan’s goal is to stabilize the United States banking system.   In essence, this legislation will allow the government to purchase stocks in 9 major banks around the country.   Then, as financial markets start to recover, these banks will buy the stock back from the United States government.

Housing Help for the United States Armed Services

This  past week, the President of the United States,  signed legislation which would make it easier for Veterans’  who want to purchase a home and  assist others who already own an existing home.   Below, I have included three key  terms that are included in this piece of legislation.

 Veterans™ Benefits Improvement Act of 2008

1.  This law will make the process of  refinancing from sub-prime loans  to safer more realistic loans backed by the VA, more attainable for Veterans.

2.   Adjustable-rate mortgages can also be offered by the VA.

3.   This law will   allow an extension of the VA loan limit through 2011.

Buy and Bail

FHA loans have become as common as conventional in today’s market.   The guide lines for FHA loans are constantly changing.  

The limits of certain types of FHA loans are going to drastically change as of the end of the year.   This  could greatly reduce your potential buying power in today’s market.  

Another change that is happening in the market concerning FHA loans is; trying to eliminate the ability of buyers who buy a new home and then bail on their previous residence.   This change in FHA focuses on buyers who choose to rent their previous residence and use that income to qualify for a FHA loan when trying to by a new home.  

 Please let me know if you need any additional information about these changes.