The purpose of the newsletter is to remain informed of current consumer topics and pending economic indicators that affect the financial and real estate markets of the Seattle Area.

John Bratmon

President/Broker

Towne Financial Corp.

7975 Leary Way

Redmond, WA  98052

425.885.1430

 

To contact me, to assist you with your mortgage needs, Click Here

 

To find out what your real property may be worth in the current market, Click Here

 

 
U.S. Treasury Bonds
Maturity Yield Last
Week		 Last
Month
5 Year 4.91 4.96 4.68
10 Year 5.01 5.04 4.70
30 Year 5.09 5.11 4.72

Treasury Market Summary: 
The market is modestly higher as technical trade keeps a lid on yields in the absence of data & Fed-speak. The 10-yr yield has pulled back toward the psychological level of 5.000% to 5.023% as that level remains sticky while the 30-yr yield is down at 5.126%. The 2-10-yr yield spread tipped flatter to 15.0 as curve trade favors steepening unwinds & a slight trip narrower for week end. Bond prices in the EuroZone are higher on oil fears dragging down growth & increasing the specter of inflation while in Japan, bond prices were down in spite of Finance Minister Tanigaki verbally adjusted the prospect for interest rate hikes characterizing the recent climb in yields as a "concern" with the market's outlook "unbalanced. Treasuries are likely to retain a slight bid, though within a consolidating range as trade will undoubtedly be light & pre-weekend, position squaringish. Technical levels will dominate as the 10-yr will continue to gravitate toward the 5.000% level from either direction. The euro is virtually unchanged, after a brief run higher stemming from the expectation that there will be more countries using it at a higher proportion in their reserves & is now 1.2312, while the yen has held up a little better at 117.2100. The crude has seen a drop-off as a large US producer sees production resuming in the Gulf, now 73.04 (-0.65) while spot gold has headed higher, now 618.78 (+6.28). The day is both data & Federal Reserve speaker free...so, anything can happen.
 

Economic Indicators for this week that could impact the mortgage or real estate markets include...

Mortgage Questions to 

Ask Your Lender
 

Buying and financing a home today can be overwhelming.  Here are some questions to ask your lender so that you can make informed decisions.

Are both fixed-rate and adjustable mortgage loans available? What is the interest rate?

 

How long can I "lock-in" the financing at the current interest rate?

 

Is a float down lock available in case rates drop after I have locked in?

 

What are the other fees a lender may charge me in conjunction with my loan?

 

Are funds for a second mortgage available?

 

On adjustable loans:

 

How often will the interest rate be adjusted?

 

Is there a maximum limit on each rate change?

 

How often will the monthly payment be adjusted?

 

Is there a ceiling on payment adjustments?

 

Can the term of the loan be extended?

 

What is the maximum rate that can be charged over the life of the loan?

 

Is there any potential for negative amortization?

 

Is there a pre-payment penalty clause?

 

This involves extra charges for paying off the loan before maturity. About 80% of all loans in the United States are paid off early.

 

What is the "grace" period? How late can a monthly payment be made before a late charge is assessed?

 

What will happen if a payment is missed?

 

If you sell your house, will the new buyer (if he/she qualifies) be able to assume your mortgage at the same interest rate?

 

Do you have to pay "points" to get your new mortgage? Usually lenders charge points for the cost of giving you a mortgage loan. A "point" is 1% of the loan.

 

Will the lender require mortgage insurance?

 

Is the loan serviced locally or is the servicing sold?

 

Ask for a written "good faith deposit".

 

The purpose of this newsletter is to stimulate thought for my clients and those professionals with whom I network.  If you are a real estate, estate planning, taxation, financial planning or insurance professional receiving this newsletter, please call my office and introduce yourself to me.  I'm always seeking to grow my referral network, and to expose more service professionals to my client base.  I specialize in helping those individuals looking to buy, sell or refinance real property in the Pacific Northwest Area.
By The Way:  Most Lenders spend the majority of their time prospecting for new clients (through ads, cold calling, flyers, etc.).  That's not they way I do things.  My business is based almost exclusively by referrals from my Preferred Partners (Real Estate and Professional Consultants), and my current & past clients.  Because of this, I devote the majority of my time to serving the needs of my clients before, during and after their transaction.  As long as they keep referring their friends, neighbors, family members & clients to me, I don't have to spend my time prospecting for clients, which means I can spend my time doing an even better job for them.  If you know someone who'd appreciate the services I provide, please call me with their name & phone number, and I'll be happy to follow up with them.

Visit John at www.NorthwestMortgageSolutions.com   

 

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John Bratmon of Towne Financial Corporation is a Washington State licensed Mortgage Broker.  John provides Conventional, Non Conforming, Jumbo, and Foreign National Loans. He assists clients with excellent credit, less than perfect credit and no credit.  John also assists individuals who are self-employed and require both full documentation and no documentation loans. John provides financing assistance to whose who are buying, selling or refinancing real estate.   If you would like to stop receiving these e-mail newsletters, simply e-mail him your request at Johnb@townemortgage.net; it will be immediately honored.