Agents are full of S**T -- Redux

Yesterday (see below) I put out some stats on Orders of Notice in my corner of the world, YTD versus last year for the same period. They painted a grim picture "malgre" the rosy smiles of the "housewife home hucksters" who daily run about hawking homes whilst "habidashing" about the kitchen curtains.

I was asked by many for some support of the numbers as they were from "only a small sample" of towns.

Herewith, I pick Suffolk County -- That is BOSTON, REVERE, CHELSEA, WINTHROP. Here goes...

1/1/10 to 3/18/10 560 Orders of Notice.
1/1/09 to 3/18/09 194 Orders of Notice.

As far as Middlesex South goes...

1/1/10 to 3/18/10 745 Orders of Notice
1/1/09 to 3/18/09 202 Orders of Notice

'nuf said?

And Now a Word from JIM BROWN of First Investors (Belmont, MA)

The 10 year bond has dropped down to 3.70 from over 4.00 a month ago. Oil
has dropped in price as well as gold. This points to lower rates and the risk
of inflation seem to be disappearing. Rates have dropped down to %6.125 with 0 points on cnventional loans. The Economic numbers for the month of August should be
coming out this week and next week, this should put downward pressure on mortgage rates. We also have some larger banks offering very aggressive Jumbo Adjustable Rate mortgages. Some of the hi-lites are you can go up to 90% with no private mortgage insurance. There is no price hit for interest only or escrow waivers. There seems to be more activity in the market this month.

Just wanted to tell everyone to keep the community homebuyer program in minds that provides a lower downpayment and easier loan qualifications. We have a program
For:
1 Unit 97% LTV
2 Unit 95% LTV
3 Unit 90% LTV
4 Unit 90% LTV
The max combined income is $108,000.00. This is a great program for first time homebuyers.

CONFORMING
30 YEAR FIXED

6.125 0 Point
5.625 2 Points
15 YEAR FIXED
5.750 0 Point
5.250 2 Points
Conventional 5/1 ARM
6.125
0 Points
5.375
2 Points
JUMBO
30 YEAR FIXED
6.750% 0 Points
7/1 YEAR ARM
6.375% 0 Points
5.875% 1 Point
5/1 YEAR ARM

6.500 0 Points
5.750% 2 Points
Call if you have questions 617 484 8383

And now a word from Jim Brown Of First Investors (Belmont)

Mortgage rates continue to stay in the 6.50% range. The 10 year bond has dropped
but the rates do not appear to be following. The good news is that many lenders no longer have declining markets in Massachusetts. The 97% single family program is now a program we can use. The banks continue to tighten credit but the activity in the market has increased. I don't think the increase in rates has hurt the market. There is some MHFA funding available for first time and low income borrowers with the rate being about 6.00%.

Just wanted to tell everyone to keep the community homebuyer program in minds which provides a lower downpayment and easier loan qualifications. We have a program

For:
1 Unit 97% LTV
2 Unit 95% LTV
3 Unit 90% LTV
4 Unit 90% LTV

The max combined income is $108,000.00. This is a great program for first time homebuyers.
CONFORMING
30 YEAR FIXED
6.500% 0 Point
6.000 % 2 Points
15 YEAR FIXED
6.125% 0 Point
5.625% 2 Points
Conventional 5/1 ARM
6.375% 0 Points
5.500% 2 Points
JUMBO
30 YEAR FIXED
6.750% 0 Points
7/1 YEAR ARM
6.375% 0 Points
5.875% 1 Point
5/1 YEAR ARM

6.250% 0 Points
5.750% 2 Points

Jim Brown
President
First Investors Mortgage Inc.
MB0063
24 Trapelo Road
617.484.8383

And Now a Word from Jim Brown of First Investors (Belmont)

Mortgage rates have remained relatively stable with a slight bump yesterday due to the increase in the T-Bills. Jumbo pricing has gotten alot better so that should
bring the Jumbo market back into play somewhat. Keep an eye on the adjustables as there is starting to be a big spread on the conventional adjustables versus the fixed
rates. Yesterday we had 5.25% with no points on a 5/1 year ARM. These adjustments
should make purchasing more attractive to borrowers. Be aware of the lenders who are adjusting for declining markets as we have lenders who are going solely on DU
conditions which does not require an adjustment. We can do 95% financing on purchases for singles even in a declining market.

Just wanted to tell everyone to keep the community homebuyer program in minds which
provides a lower downpayment and easier loan qualifications. We have a program
For:
1 Unit 97% LTV
2 Unit 97% LTV
3 Unit 95% LTV
4 Unit 90% LTV
The max combined income is $108,000.00. This is a great program for first time homebuyers.
CONFORMING
30 YEAR FIXED
6.000% 0 Point
5.500 % 2 Points
15 YEAR FIXED
5.625% 0 Point
5.125% 2 Points

Conventional 5/1 ARM
5.375% 0 Points
4.500% 2 Points
JUMBO
30 YEAR FIXED
6.375% 0 Points
7/1 YEAR ARM
5.875% 0 Points
5.375% 1 Point
5/1 YEAR ARM
5.625% 0 Points
5.125% 2 Points
GIVE JIM a call with questions, scenerios, or pre-approvals
Jim Brown
President
First Investors Mortgage Inc.
MB0063
24 Trapelo Road
Belmont, Ma. 02478
Work # 617-484-8383
Fax# 617-489-4976
Email: jimbrown@firstinvestorsmortgage.net

And Now a Word from Jim Brown of FIRST INVESTORS, Belmont (MA)

Although the news and media keep reporting on the Fed lowering the discount
rate, the bond market took a hit yesterday along with the Fed raising concerns about inflation.

Which caused rates to increase a little more. The rates are still excellent and below 6%.

The forecast is that rates should slide back down over the quarter.

Just wanted to remind everyone aboutthe Community homebuyer programs that have
come back in play that provide for lower downpayment and easier loan qualifications. We have a program

For:
1 Unit 100% LTV
2 Unit 97% LTV
3 Unit 95% LTV
4 Unit 90% LTV
The max combined income is $108,000.00. This is a great program for first time homebuyers.

CONFORMING
30 YEAR FIXED
5.875% 0 Points
5.375% 2 Points
15 YEAR FIXED
5.25% 0 Points
4.75% 2 Point
JUMBO
30 YEAR FIXED
6.125% 0 Points
7/1 YEAR ARM
5.375% 0 Points
5.125% 1 Point
Give us a call with questions, scenerios, or pre-approvals.
Jim
Jim Brown
President
First Investors Mortgage Inc.
MB0063
24 Trapelo Road
Belmont, Ma. 02478
Work # 617-484-8383
Fax# 617-489-4976
Email: jimbrown@firstinvestorsmortgage.net

And now a Finance word from FIRST INVESTORS (Belmont, MA)

This from Jim Brown of First Investors Mortgage in Belmont (MA)617-484-8383 or
email: jimbrown@firstinvestorsmortgage.net

Although the news and media keep reporting on the Fed lowering the discount rate, 50 basis points yesterday, mortgage rates have actually moved upward a slight bit.

I am sure over the month they should slide back but in any event they are excellent.

Also there is rumor that the conforming limits will soon be increased to help ease the burden on the larger loans. (lets hope so !!!). In general rates should help spur the purchase market a bit.

There are some Community homebuyer programs that have come back in play which provide for lower downpayment and easier loan qualifications. We have a program for:

1 Unit 100% LTV
2 Unit 97% LTV
3 Unit 95% LTV
4 Unit 90% LTV

The max combined income is $108,000.00. This is a great program
for first time homebuyers.

CONFORMING
30 YEAR FIXED

5.625% 0 Points
5.125% 2 Points

15 YEAR FIXED
5.125% 0 Points
4.500% 2 Points
JUMBO
30 YEAR FIXED
6.125% 0 Points


7/1 YEAR ARM
5.625% 0 Points
5.125% 1 Point

Give them a call with questions, scenerios, or pre-approvals
First Investors Mortgage Inc.
MB0063
24 Trapelo Road
Belmont, Ma. 02478
Work # 617-484-8383
Fax# 617-489-4976
Email: jimbrown@firstinvestorsmortgage.net