The Mortgage Market Insider<\/title><br \/>\n <meta content=\"text\/html; charset=iso-8859-1\" http-equiv=\"Content-Type\"><br \/>\n <\/head><br \/>\n <body link=\"#206a99\" vlink=\"#666666\" jquery1265513837921=\"34\" jquery1265513709875=\"28\" jquery1265512781062=\"40\" jquery1265512731828=\"28\" jquery1265512078437=\"39\" jquery1265511555703=\"366\" jquery1265510640921=\"36\" jquery1265499839890=\"63\" jquery1274747598171=\"179\" jquery1274747598171=\"179\"><br \/>\n <center><\/p>\n<table style=\"width: 600px; height: 3983px;\" border=\"1\" cellspacing=\"0\" bordercolor=\"#003264\" cellpadding=\"0\" width=\"600\"><\/p>\n<tbody>\n<tr>\n<td>\n<div><img loading=\"lazy\" decoding=\"async\" style=\"width: 604px; height: 161px;\" alt=\"\" src=\"http:\/\/citywidefinancialcorp.com\/newsletter\/images\/header.jpg\" width=\"604\" height=\"161\" complete=\"complete\"><\/div>\n<\/td>\n<\/tr>\n<p><\/p>\n<tr>\n<td><\/p>\n<table border=\"0\" cellspacing=\"0\" cellpadding=\"0\" width=\"600\">\n<tbody>\n<tr>\n<td valign=\"top\" width=\"409\" align=\"left\"><\/p>\n<table style=\"width: 380px; height: 3793px;\" border=\"0\" cellspacing=\"0\" cellpadding=\"0\" width=\"380\"><\/p>\n<tbody>\n<tr>\n<td bgcolor=\"#206a99\" height=\"26\" valign=\"middle\" width=\"380\">\n<div><img decoding=\"async\" alt=\"\" src=\"http:\/\/citywidefinancialcorp.com\/newsletter\/images\/spacer.gif\" complete=\"complete\"><font face=\"Times New Roman, Helvetica, sans-serif\"><font color=\"#ffffff\"><font size=\"4\">Euro Crisis Drives Mortgage Rates Down to Record Lows!<\/font><\/font><\/font><\/div>\n<\/td>\n<\/tr>\n<tr>\n<td><img decoding=\"async\" alt=\"\" src=\"http:\/\/citywidefinancialcorp.com\/newsletter\/images\/spacer.gif\" complete=\"complete\"><\/td>\n<\/tr>\n<tr>\n<td valign=\"top\" align=\"left\"><\/p>\n<table style=\"width: 375px; height: 3399px;\" border=\"0\" cellspacing=\"0\" cellpadding=\"0\">\n<tbody>\n<tr>\n<td><img decoding=\"async\" alt=\"\" src=\"http:\/\/citywidefinancialcorp.com\/newsletter\/images\/spacer.gif\" complete=\"complete\"><\/td>\n<td><font size=\"2\" face=\"Verdana\"><\/p>\n<div> <\/div>\n<div>Dear [fname]<\/div>\n<div> <\/div>\n<div>When the federal tax credits ended last month, everyone started wondering what will it take now to keep buyers interested in buying, or to get those picky buyers off the fence? The answer for now seems to to be the crisis in Europe. Because of the financial turmoil in the Euro Zone, mortgage rates have plummeted down in the past 10 days to match their lowest levels on record. For example did you know that a qualified buyer can get 3.99% on a 15 year fixed loan! <\/div>\n<div style=\"border-bottom: medium none; text-align: left; border-left: medium none; background-color: transparent; color: #000000; overflow: hidden; border-top: medium none; border-right: medium none; text-decoration: none;\" align=\"left\"> <\/div>\n<div style=\"border-bottom: medium none; text-align: left; border-left: medium none; background-color: transparent; color: #000000; overflow: hidden; border-top: medium none; border-right: medium none; text-decoration: none;\" align=\"left\"><img loading=\"lazy\" decoding=\"async\" title=\"\" alt=\"\" src=\"https:\/\/app.icontact.com\/icp\/loadimage.php\/mogile\/545159\/2312251d3c1496a481a7e2c6625cd253\/image\/jpeg\" width=\"111\" height=\"124\"><\/div>\n<div style=\"border-bottom: medium none; text-align: left; border-left: medium none; background-color: transparent; color: #000000; overflow: hidden; border-top: medium none; border-right: medium none; text-decoration: none;\" align=\"left\"> <\/div>\n<div style=\"border-bottom: medium none; text-align: left; border-left: medium none; background-color: transparent; color: #000000; overflow: hidden; border-top: medium none; border-right: medium none; text-decoration: none;\" align=\"left\"><strong>Get the word out to all buyers<\/strong><\/div>\n<div style=\"border-bottom: medium none; text-align: left; border-left: medium none; background-color: transparent; color: #000000; overflow: hidden; border-top: medium none; border-right: medium none; text-decoration: none;\" align=\"left\">I don’t think even the media has caught onto how low rates are yet, as this sudden drop in rates has happened so fast. But this presents a great opportunity to market to any buyers who may have been a little disappointed in missing out on the $8k tax credit or to buyers who still are on the fence. Because with these really low rates, buying a home now will present an opportunity for a buyer to save more money than they would have received from the $8k federal tax credit when rates were higher. <\/div>\n<div style=\"border-bottom: medium none; text-align: left; border-left: medium none; background-color: transparent; color: #000000; overflow: hidden; border-top: medium none; border-right: medium none; text-decoration: none;\" align=\"left\"> <\/div>\n<div style=\"border-bottom: medium none; text-align: left; border-left: medium none; background-color: transparent; color: #000000; overflow: hidden; border-top: medium none; border-right: medium none; text-decoration: none;\" align=\"left\"><b><b>Show buyers how these low rates have more savings than the $8k tax credit<\/b> <\/b><\/div>\n<div style=\"border-bottom: medium none; text-align: left; border-left: medium none; background-color: transparent; color: #000000; overflow: hidden; border-top: medium none; border-right: medium none; text-decoration: none;\" align=\"left\">If anyone was wondering if the tax credits that ended April 30th would have an affect on buyers? well they had their answer last week. Purchase applications had their biggest drop in 13 years as applications plummeted 27% for the week ending May 14th. Here is an article <a title=\"http:\/\/click.icptrack.com\/icp\/relay.php?r=-1&msgid=0&act=11111&c=545159&destination=http%3A%2F%2Fwww.mortgagenewsdaily.com%2F05192010_housing_industry_s_worst_fears.asp\" href=\"http:\/\/www.mortgagenewsdaily.com\/05192010_housing_industry_s_worst_fears.asp\"><font title=\"http:\/\/click.icptrack.com\/icp\/relay.php?r=-1&msgid=0&act=11111&c=545159&destination=http%3A%2F%2Fwww.mortgagenewsdaily.com%2F05192010_housing_industry_s_worst_fears.asp\" color=\"#0033ff\"><strong title=\"http:\/\/click.icptrack.com\/icp\/relay.php?r=-1&msgid=0&act=11111&c=545159&destination=http%3A%2F%2Fwww.mortgagenewsdaily.com%2F05192010_housing_industry_s_worst_fears.asp\">Purchase apps drop to their lowest level in 13 years<\/strong><\/font><\/a>. <\/div>\n<div style=\"border-bottom: medium none; text-align: left; border-left: medium none; background-color: transparent; color: #000000; overflow: hidden; border-top: medium none; border-right: medium none; text-decoration: none;\" align=\"left\"> <\/div>\n<div style=\"border-bottom: medium none; text-align: left; border-left: medium none; background-color: transparent; color: #000000; overflow: hidden; border-top: medium none; border-right: medium none; text-decoration: none;\" align=\"left\">So obviously there are a lot of buyers out there who are disappointed they missed out on the $8k credit. So if the tax carrots are gone buyers are going to need some other incentive to buy now. These record low rates present a great opportunity to show these buyers on the fence how they can save more money than the $8k credit if they secure a loan now. Here are a few ways to show them the numbers. <\/div>\n<div style=\"border-bottom: medium none; text-align: left; border-left: medium none; background-color: transparent; color: #000000; overflow: hidden; border-top: medium none; border-right: medium none; text-decoration: none;\" align=\"left\"> <\/div>\n<div style=\"border-bottom: medium none; text-align: left; border-left: medium none; background-color: transparent; color: #000000; overflow: hidden; border-top: medium none; border-right: medium none; text-decoration: none;\" align=\"left\">\n <\/d><img loading=\"lazy\" decoding=\"async\" title=\"\" alt=\"\" src=\"https:\/\/app.icontact.com\/icp\/loadimage.php\/mogile\/545159\/942d6d053176eedc84f1d40d1ecce774\/image\/jpeg\" width=\"122\" height=\"97\"><\/div>\n<div style=\"border-bottom: medium none; text-align: left; border-left: medium none; background-color: transparent; color: #000000; overflow: hidden; border-top: medium none; border-right: medium none; text-decoration: none;\" align=\"left\"> <\/div>\n<div style=\"border-bottom: medium none; text-align: left; border-left: medium none; background-color: transparent; color: #000000; overflow: hidden; border-top: medium none; border-right: medium none; text-decoration: none;\" align=\"left\"><strong>1. Show buyers how to recoup the tax credit loss of $8k and more by securing a record low rate.<\/strong> Because rates are roughly -.375 to -.5% lower than they were a month ago, the savings long term on a loan at 4.625% will more than make up for the loss of the $8k credit on a loan at 5%. <\/div>\n<div style=\"border-bottom: medium none; text-align: left; border-left: medium none; background-color: transparent; color: #000000; overflow: hidden; border-top: medium none; border-right: medium none; text-decoration: none;\" align=\"justify\"><b> <\/b><\/div>\n<div style=\"border-bottom: medium none; text-align: left; border-left: medium none; background-color: transparent; color: #000000; overflow: hidden; border-top: medium none; border-right: medium none; text-decoration: none;\" align=\"justify\"><b>Loan A Loan B<\/b><\/div>\n<div style=\"border-bottom: medium none; text-align: left; border-left: medium none; background-color: transparent; color: #000000; overflow: hidden; border-top: medium none; border-right: medium none; text-decoration: none;\" align=\"justify\"><strong> <\/strong><\/div>\n<div style=\"border-bottom: medium none; text-align: left; border-left: medium none; background-color: transparent; color: #000000; overflow: hidden; border-top: medium none; border-right: medium none; text-decoration: none;\" align=\"justify\"><b>Before tax credit After tax credit<\/b><\/div>\n<p style=\"border-bottom: medium none; text-align: left; border-left: medium none; background-color: transparent; color: #000000; overflow: hidden; border-top: medium none; border-right: medium none; text-decoration: none;\" align=\"justify\">$400k loan $400k loan<\/p>\n<p style=\"border-bottom: medium none; text-align: left; border-left: medium none; background-color: transparent; color: #000000; overflow: hidden; border-top: medium none; border-right: medium none; text-decoration: none;\" align=\"justify\">5% interest 4.625% interest <\/p>\n<div style=\"border-bottom: medium none; text-align: left; border-left: medium none; background-color: transparent; color: #000000; overflow: hidden; border-top: medium none; border-right: medium none; text-decoration: none;\" align=\"justify\">Payment $2379 Payment $2291 <\/div>\n<div style=\"border-bottom: medium none; text-align: left; border-left: medium none; background-color: transparent; color: #000000; overflow: hidden; border-top: medium none; border-right: medium none; text-decoration: none;\" align=\"justify\"> <\/div>\n<div style=\"border-bottom: medium none; text-align: left; border-left: medium none; background-color: transparent; color: #000000; overflow: hidden; border-top: medium none; border-right: medium none; text-decoration: none;\" align=\"justify\"><strong>Monthly savings = $88<\/strong><\/div>\n<div style=\"border-bottom: medium none; text-align: left; border-left: medium none; background-color: transparent; color: #000000; overflow: hidden; border-top: medium none; border-right: medium none; text-decoration: none;\" align=\"justify\"><strong> <\/strong><\/div>\n<div style=\"border-bottom: medium none; text-align: left; border-left: medium none; background-color: transparent; color: #000000; overflow: hidden; border-top: medium none; border-right: medium none; text-decoration: none;\" align=\"justify\"><strong>$88 x 30 years = $31,680 total savings<\/strong><\/div>\n<div style=\"border-bottom: medium none; text-align: left; border-left: medium none; background-color: transparent; color: #000000; overflow: hidden; border-top: medium none; border-right: medium none; text-decoration: none;\" align=\"justify\"><strong> <\/strong><\/div>\n<div style=\"border-bottom: medium none; text-align: left; border-left: medium none; background-color: transparent; color: #000000; overflow: hidden; border-top: medium none; border-right: medium none; text-decoration: none;\" align=\"justify\">If you multiply the $88 monthly savings over 30 years, this amounts to $31,680 in total savings<strong>.<\/strong> So the loan made after the tax credit deadline ends up being a better investment than the loan that received the $8k tax credit, as the before tax credit loan had a higher rate. <\/div>\n<div style=\"border-bottom: medium none; text-align: left; border-left: medium none; background-color: transparent; color: #000000; overflow: hidden; border-top: medium none; border-right: medium none; text-decoration: none;\" align=\"justify\"> <\/div>\n<div style=\"border-bottom: medium none; text-align: left; border-left: medium none; background-color: transparent; color: #000000; overflow: hidden; border-top: medium none; border-right: medium none; text-decoration: none;\" align=\"justify\"><strong>2. Show buyers a 25 year fixed loan instead<\/strong><\/div>\n<div style=\"border-bottom: medium none; text-align: left; border-left: medium none; background-color: transparent; color: #000000; overflow: hidden; border-top: medium none; border-right: medium none; text-decoration: none;\" align=\"justify\">Did you know that some lenders offer a 25 year fixed loan? With the rate on a 25 year loan at 4.625%, you can now show a buyer a payment on a 25 year fixed loan that will almost match the payment they had on a 30 year fixed loan that had a higher rate recently. This will save 5 years off their mortgage. For example. The payments at 5.125% on a 30 year fixed are almost the same as a loan at 4.625% on a 25 year fixed.<\/div>\n<div style=\"border-bottom: medium none; text-align: left; border-left: medium none; background-color: transparent; color: #000000; overflow: hidden; border-top: medium none; border-right: medium none; text-decoration: none;\" align=\"justify\"> <\/div>\n<div style=\"border-bottom: medium none; text-align: left; border-left: medium none; background-color: transparent; color: #000000; overflow: hidden; border-top: medium none; border-right: medium none; text-decoration: none;\" align=\"justify\">Using the example above on the $400k loan at 5% with a $2379 payment, saving 5 years mortgage payments will amount to $142,740 in mortgage payments and interest. This is a great way to show someone how to make a great investment with a shorter term loan, and all of a sudden the $8k tax credit does not seem as important compared to 5 years worth of mortgage payment savings.<\/div>\n<div style=\"border-bottom: medium none; text-align: left; border-left: medium none; background-color: transparent; color: #000000; overflow: hidden; border-top: medium none; border-right: medium none; text-decoration: none;\" align=\"justify\"> <\/div>\n<div style=\"border-bottom: medium none; text-align: left; border-left: medium none; background-color: transparent; color: #000000; overflow: hidden; border-top: medium none; border-right: medium none; text-decoration: none;\" align=\"left\"><strong>So<\/strong> <strong>how low are rates?<\/strong><\/div>\n<div style=\"border-bottom: medium none; text-align: left; border-left: medium none; background-color: transparent; color: #000000; overflow: hidden; border-top: medium none; border-right: medium none; text-decoration: none;\" align=\"left\">Rates are now at 50 year lows. Qualified buyers with excellent credit scores and good down payments can now get 3.99% on a 15 year fixed, or a 20 year fixed is at 4.375% and a 30 year fixed around 4.625%, but I have one lender that can offer qualified first time buyers 4.49% on a 30 year fixed. Jumbo loan rates are also incredible right now too at 4.875% for loans up to $729k. <\/div>\n<div style=\"border-bottom: medium none; text-align: left; border-left: medium none; background-color: transparent; color: #000000; overflow: hidden; border-top: medium none; border-right: medium none; text-decoration: none;\" align=\"left\"><b> <\/b><\/div>\n<div style=\"border-bottom: medium none; text-align: left; border-left: medium none; background-color: transparent; color: #000000; overflow: hidden; border-top: medium none; border-right: medium none; text-decoration: none;\" align=\"left\"><b>What is causing mortgage rates to go so low?<\/b><\/div>\n<div style=\"border-bottom: medium none; text-align: left; border-left: medium none; background-color: transparent; color: #000000; overflow: hidden; border-top: medium none; border-right: medium none; text-decoration: none;\" align=\"left\">Economists largely attribute the decline in mortgage rates to the European debt crisis and new concerns about the global economy, which unleashed a massive wave of cash into U.S. bonds from investors around the world. <\/div>\n<div style=\"border-bottom: medium none; text-align: left; border-left: medium none; background-color: transparent; color: #000000; overflow: hidden; border-top: medium none; border-right: medium none; text-decoration: none;\" align=\"left\"> <\/div>\n<div style=\"border-bottom: medium none; text-align: left; border-left: medium none; background-color: transparent; color: #000000; overflow: hidden; border-top: medium none; border-right: medium none; text-decoration: none;\" align=\"left\"><img loading=\"lazy\" decoding=\"async\" style=\"width: 169px; height: 116px;\" title=\"\" alt=\"\" src=\"https:\/\/app.icontact.com\/icp\/loadimage.php\/mogile\/545159\/8ecee2df693b724dd4ae4f7c8ebc853f\/image\/jpeg\" width=\"169\" height=\"116\"><\/div>\n<div style=\"border-bottom: medium none; text-align: left; border-left: medium none; background-color: transparent; color: #000000; overflow: hidden; border-top: medium none; border-right: medium none; text-decoration: none;\" align=\"left\"> <\/div>\n<div style=\"border-bottom: medium none; text-align: left; border-left: medium none; background-color: transparent; color: #000000; overflow: hidden; border-top: medium none; border-right: medium none; text-decoration: none;\" align=\"left\">Even though EU officials, the IMF (International Monetary Fund), and global central bankers officially have "addressed" the European fiscal crisis, market participants have not yet been convinced that the worst is behind and instead chose to continue to allocate funds into risk-averse assets like government guaranteed U.S. Treasuries. This "flight to safety" has allowed mortgage bonds to move higher and rates to go lower.<\/div>\n<div style=\"border-bottom: medium none; text-align: left; border-left: medium none; background-color: transparent; color: #000000; overflow: hidden; border-top: medium none; border-right: medium none; text-decoration: none;\" align=\"left\"> <\/div>\n<div style=\"border-bottom: medium none; text-align: left; border-left: medium none; background-color: transparent; color: #000000; overflow: hidden; border-top: medium none; border-right: medium none; text-decoration: none;\" align=\"left\">A flight to safety occurs when investors are nervous about owning risky assets like stocks, but do not want to miss out on earning a return on their funds, so they allocate money into risk-free U.S Treasury debt to provide a safe-haven AND an investment return. As Treasury yields fall, prices of mortgage backed-securities move higher, which allows lenders to offer lower mortgage rates. As Treasury yields rise, mortgage-backed security prices are led lower, which forces lenders to push mortgage rates higher.<\/div>\n<div style=\"border-bottom: medium none; text-align: left; border-left: medium none; background-color: transparent; color: #000000; overflow: hidden; border-top: medium none; border-right: medium none; text-decoration: none;\" align=\"left\"> <\/div>\n<div style=\"border-bottom: medium none; text-align: left; border-left: medium none; background-color: transparent; color: #000000; overflow: hidden; border-top: medium none; border-right: medium none; text-decoration: none;\" align=\"left\"><img loading=\"lazy\" decoding=\"async\" title=\"\" alt=\"\" src=\"https:\/\/app.icontact.com\/icp\/loadimage.php\/mogile\/545159\/5dc049404817d1b5f003a2dd85c915b6\/image\/jpeg\" width=\"78\" height=\"117\"><\/div>\n<div style=\"border-bottom: medium none; text-align: left; border-left: medium none; background-color: transparent; color: #000000; overflow: hidden; border-top: medium none; border-right: medium none; text-decoration: none;\" align=\"left\"> <\/div>\n<div style=\"border-bottom: medium none; text-align: left; border-left: medium none; background-color: transparent; color: #000000; overflow: hidden; border-top: medium none; border-right: medium none; text-decoration: none;\" align=\"left\"><b>Where will rates go from here?<\/b><strong> <\/strong><\/div>\n<div style=\"border-bottom: medium none; text-align: left; border-left: medium none; background-color: transparent; color: #000000; overflow: hidden; border-top: medium none; border-right: medium none; text-decoration: none;\" align=\"left\">Economists are advising that predicting rates has become a little more difficult due to unforseen circumstances. NO ONE predicted the current chaos in Europe, in fact everyone had predicted mortgage rates to increase significantly after the Feds pulled the plug on their rate reduction program on March 31st this year. <\/div>\n<div style=\"border-bottom: medium none; text-align: left; border-left: medium none; background-color: transparent; color: #000000; overflow: hidden; border-top: medium none; border-right: medium none; text-decoration: none;\" align=\"left\"> <\/div>\n<div style=\"border-bottom: medium none; text-align: left; border-left: medium none; background-color: transparent; color: #000000; overflow: hidden; border-top: medium none; border-right: medium none; text-decoration: none;\" align=\"left\">For now, I don’t think the troubles in the European markets are going to go away anytime soon. It really is a crisis of confidence right now in the Euro zone because the markets know that these countries are not going to solve their debt problems overnight. So with that being said, I would say we are going to have a low interest rate environment here in the US at least for the next few months, unless there is another crazy twist in the financial markets that has not been accounted for yet.<\/div>\n<div style=\"border-bottom: medium none; text-align: left; border-left: medium none; background-color: transparent; color: #000000; overflow: hidden; border-top: medium none; border-right: medium none; text-decoration: none;\" align=\"left\"> <\/div>\n<div style=\"border-bottom: medium none; text-align: left; border-left: medium none; background-color: transparent; color: #000000; overflow: hidden; border-top: medium none; border-right: medium none; text-decoration: none;\" align=\"left\"> <img loading=\"lazy\" decoding=\"async\" title=\"\" alt=\"\" src=\"https:\/\/app.icontact.com\/icp\/loadimage.php\/mogile\/545159\/27a3cc15cb5aeaec460d8fc4e74dc715\/image\/jpeg\" width=\"111\" height=\"70\"><\/div>\n<div style=\"border-bottom: medium none; text-align: left; border-left: medium none; background-color: transparent; color: #000000; overflow: hidden; border-top: medium none; border-right: medium none; text-decoration: none;\" align=\"left\"> <\/div>\n<div style=\"border-bottom: medium none; text-align: left; border-left: medium none; background-color: transparent; color: #000000; overflow: hidden; border-top: medium none; border-right: medium none; text-decoration: none;\" align=\"left\"><b>Another golden opportunity for buyers on the fence<\/b><\/div>\n<div style=\"border-bottom: medium none; text-align: left; border-left: medium none; background-color: transparent; color: #000000; overflow: hidden; border-top: medium none; border-right: medium none; text-decoration: none;\" align=\"left\">There is no doubt that the end of the tax credits has lowered demand for housing. But with these sudden low rates, there truly lies another golden opportunity for a buyer to get a much lower payment on a loan that was not available a few weeks ago. Also, lower mortgage rates can give a powerful lift to a buyers purchasing ability too, A general rule of thumb holds that for every 1% percentage point decline in rates, is the equivalent of roughly a 10% reduction in the home price for a buyer. <\/div>\n<div style=\"border-bottom: medium none; text-align: left; border-left: medium none; background-color: transparent; color: #000000; overflow: hidden; border-top: medium none; border-right: medium none; text-decoration: none;\" align=\"left\"> <\/div>\n<div style=\"border-bottom: medium none; text-align: left; border-left: medium none; background-color: transparent; color: #000000; overflow: hidden; border-top: medium none; border-right: medium none; text-decoration: none;\" align=\"left\">A good idea is to go over these new lower rates with all buyers and see if this will change their buying decision. As lower rates will help some buyers afford a slightly larger home, or a lower rate will mean that the new mortgage payment now fits within their budget. <\/div>\n<div style=\"border-bottom: medium none; text-align: left; border-left: medium none; background-color: transparent; color: #000000; overflow: hidden; border-top: medium none; border-right: medium none; text-decoration: none;\" align=\"left\"> <\/div>\n<div style=\"border-bottom: medium none; text-align: left; border-left: medium none; background-color: transparent; color: #000000; overflow: hidden; border-top: medium none; border-right: medium none; text-decoration: none;\" align=\"left\">If you have any questions in regards to any of the information above or you need help getting anyone pre-approved for financing, please feel free to contact me directly at 858-200-9602. I look forward to chatting soon<\/div>\n<div style=\"border-bottom: medium none; text-align: left; border-left: medium none; background-color: transparent; color: #000000; overflow: hidden; border-top: medium none; border-right: medium none; text-decoration: none;\" align=\"left\"> <\/div>\n<div style=\"border-bottom: medium none; text-align: left; border-left: medium none; background-color: transparent; color: #000000; overflow: hidden; border-top: medium none; border-right: medium none; text-decoration: none;\" align=\"left\"> <\/div>\n<p><\/font><\/p>\n<div>\n<div><img decoding=\"async\" alt=\"\" src=\"http:\/\/citywidefinancialcorp.com\/newsletter\/images\/sign.jpg\" complete=\"complete\"><\/div>\n<\/div>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p><a href=\"https:\/\/app.icontact.com\/icp\/core\/message\/forward?m=197094&s=17811376&c=1ZE3&cid=545159\"><img decoding=\"async\" border=\"0\" alt=\"\" src=\"http:\/\/citywidefinancialcorp.com\/newsletter\/images\/forward.jpg\"><\/a><\/td>\n<\/tr>\n<tr>\n<td><img decoding=\"async\" alt=\"\" src=\"http:\/\/citywidefinancialcorp.com\/newsletter\/images\/spacer.gif\" complete=\"complete\"><\/td>\n<\/tr>\n<tr>\n<td valign=\"top\" align=\"left\">\n<div><\/div>\n<div> <\/div>\n<div><a href=\"http:\/\/www.michaeladeery.com\/blog\/please-sign-up-for-the-mortgage-market-insider-newsletter\/\"><img decoding=\"async\" border=\"0\" alt=\"\" src=\"http:\/\/citywidefinancialcorp.com\/newsletter\/images\/subscribe.jpg\"><\/a><\/div>\n<div> <\/div>\n<\/td>\n<\/tr>\n<p><\/p>\n<tr>\n<td><img decoding=\"async\" alt=\"\" src=\"http:\/\/citywidefinancialcorp.com\/newsletter\/images\/spacer.gif\" complete=\"complete\"><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p><\/td>\n<td bgcolor=\"#eceacd\" valign=\"top\" width=\"191\" align=\"left\"><\/p>\n<table border=\"0\" cellspacing=\"0\" cellpadding=\"5\" width=\"100%\"><\/p>\n<tbody>\n<tr>\n<td bgcolor=\"#486e01\" height=\"26\" valign=\"middle\" width=\"200\"><font size=\"4\"><font color=\"#ffffff\"><strong>In This Issue<\/strong> <\/font><\/font><\/td>\n<\/tr>\n<tr>\n<td valign=\"top\"><img decoding=\"async\" alt=\"\" src=\"http:\/\/citywidefinancialcorp.com\/newsletter\/images\/spacer.gif\" complete=\"complete\"><\/td>\n<\/tr>\n<tr>\n<td valign=\"top\" align=\"left\">\n<ul>\n<li><font size=\"2\" face=\"Verdana\">Euro Crisis Drives Mortgage Rates to Record Lows! <\/font><\/li>\n<li><font size=\"2\" face=\"Verdana\">Show buyers how these low rates create more savings than the $8k tax credit <\/font><\/li>\n<li><font size=\"2\" face=\"Verdana\">Show buyers a 25 year fixed loan<\/font> <\/li>\n<li><font size=\"2\" face=\"Verdana\">Where will rates go from here?<\/font> <\/li>\n<\/ul>\n<\/td>\n<\/tr>\n<p><\/p>\n<tr>\n<td><img decoding=\"async\" alt=\"\" src=\"http:\/\/citywidefinancialcorp.com\/newsletter\/images\/spacer.gif\" complete=\"complete\"><\/td>\n<\/tr>\n<p><\/p>\n<tr>\n<td bgcolor=\"#486e01\" height=\"26\" valign=\"middle\" width=\"190\"><img decoding=\"async\" alt=\"\" src=\"http:\/\/citywidefinancialcorp.com\/newsletter\/images\/icon_01.jpg\" complete=\"complete\"><\/td>\n<\/tr>\n<tr>\n<td>\n<div> <\/div>\n<\/td>\n<\/tr>\n<tr>\n<td>\n<div><font color=\"#cc0099\"><\/p>\n<div align=\"justify\"><a href=\"http:\/\/www.michaeladeery.com\/blog\/category\/underwriters-reveal-5-reasons-loans-are-getting-denied\/\"><font color=\"#0033ff\"><strong><\/p>\n<p>Underwriters Reveal the Main Reasons Loans are Being Denied<\/p>\n<p><\/strong><\/font><\/a><\/div>\n<p><\/font><\/div>\n<div><font color=\"#3333ff\"><font face=\"Verdana, Times New Roman, Times, serif\"><a title=\"http:\/\/click.icptrack.com\/icp\/relay.php?r=-1&msgid=0&act=11111&c=545159&destination=http%3A%2F%2Fwww.michaeladeery.com%2Fblog%2Fthe-95-conventional-loan-is-back-for-new-home-buyers%2F\" href=\"http:\/\/www.michaeladeery.com\/blog\/the-95-conventional-loan-is-back-for-new-home-buyers\/\"><font title=\"http:\/\/click.icptrack.com\/icp\/relay.php?r=-1&msgid=0&act=11111&c=545159&destination=http%3A%2F%2Fwww.michaeladeery.com%2Fblog%2Fthe-95-conventional-loan-is-back-for-new-home-buyers%2F\" color=\"#0033ff\" size=\"2\"><strong>95% Financing is Back Again for New Buyers<\/strong><\/font><\/a><a title=\"homepath\" href=\"http:\/\/www.michaeladeery.com\/blog\/category\/homepath-loans\/\"> <\/a><\/font><\/font><\/div>\n<div><font color=\"#3333ff\"><strong> <\/strong><\/font><\/div>\n<div><font color=\"#3333ff\"><a title=\"http:\/\/click.icptrack.com\/icp\/relay.php?r=-1&msgid=0&act=11111&c=545159&destination=http%3A%2F%2Fwww.michaeladeery.com%2Fblog%2Fqualified-va-buyers-get-8k-tax-credit-extended-to-june-2011%2F\" href=\"http:\/\/www.michaeladeery.com\/blog\/qualified-va-buyers-get-8k-tax-credit-extended-to-june-2011\/\"><font title=\"http:\/\/click.icptrack.com\/icp\/relay.php?r=-1&msgid=0&act=11111&c=545159&destination=http%3A%2F%2Fwww.michaeladeery.com%2Fblog%2Fqualified-va-buyers-get-8k-tax-credit-extended-to-june-2011%2F\" color=\"#0033ff\"><strong>Qualified VA Buyers Get $8k Tax Credit Extended to June 2011<\/strong><\/font><\/a><a title=\"condos\" href=\"http:\/\/www.michaeladeery.com\/blog\/home-loans-in-san-diego-and-condos\/\"> <\/a><\/font><\/div>\n<div><font color=\"#3333ff\"><strong> <\/strong><\/font><\/div>\n<div><font color=\"#3333ff\"><a title=\"http:\/\/click.icptrack.com\/icp\/relay.php?r=-1&msgid=0&act=11111&c=545159&destination=http%3A%2F%2Fwww.mortgagenewsdaily.com%2F05192010_housing_industry_s_worst_fears.asp\" href=\"http:\/\/www.mortgagenewsdaily.com\/05192010_housing_industry_s_worst_fears.asp\"><font title=\"http:\/\/click.icptrack.com\/icp\/relay.php?r=-1&msgid=0&act=11111&c=545159&destination=http%3A%2F%2Fwww.mortgagenewsdaily.com%2F05192010_housing_industry_s_worst_fears.asp\" color=\"#0033ff\"><strong>Purchase Applications Drop to their Lowest Levels in 13 Years<\/strong><\/font><\/a><\/font><\/div>\n<\/td>\n<\/tr>\n<p><\/p>\n<tr>\n<td valign=\"top\" align=\"left\">\n<div> <\/div>\n<\/td>\n<\/tr>\n<tr>\n<td><img decoding=\"async\" alt=\"\" src=\"http:\/\/citywidefinancialcorp.com\/newsletter\/images\/spacer.gif\" complete=\"complete\"><\/td>\n<\/tr>\n<p><\/p>\n<tr>\n<td bgcolor=\"#486e01\" height=\"18\" valign=\"bottom\" width=\"190\"><img decoding=\"async\" alt=\"\" src=\"http:\/\/citywidefinancialcorp.com\/newsletter\/images\/icon_02.jpg\" complete=\"complete\"><\/td>\n<\/tr>\n<tr>\n<td><img decoding=\"async\" alt=\"\" src=\"http:\/\/citywidefinancialcorp.com\/newsletter\/images\/spacer.gif\" complete=\"complete\"><\/td>\n<\/tr>\n<tr>\n<td valign=\"top\" align=\"left\"><font face=\"Verdana, Times New Roman, Times, serif\"><font size=\"2\"><font face=\"Verdana, Times New Roman, Times, serif\"><font size=\"2\">As of July 1st Fannie Mae is going to allow buyers who had a short sale two years ago buy a new home as long as they put 20% down. Under current guidelines a buyer has to wait 4 years before they can buy after a short sale. It must be be noted that if a buyer wants to put down less than 20% they will still have to wait the 4 year period. This is a great opportunity for some of the buyers that you may have worked with 2 years ago who maybe interested in buying again. As July 1st is just around the corner, it might be a good time to send out a marketing piece to get the word out to buyers who can qualify again under this new rule change<\/font><\/font>!<\/font><\/font><\/td>\n<p><\/tr>\n<tr>\n<td><img decoding=\"async\" alt=\"\" src=\"http:\/\/citywidefinancialcorp.com\/newsletter\/images\/spacer.gif\" complete=\"complete\"><\/td>\n<\/tr>\n<p><\/p>\n<tr>\n<td bgcolor=\"#486e01\" height=\"26\" valign=\"middle\" width=\"190\"><img decoding=\"async\" alt=\"\" src=\"http:\/\/citywidefinancialcorp.com\/newsletter\/images\/icon_03.jpg\" complete=\"complete\"><\/td>\n<\/tr>\n<tr>\n<td><img decoding=\"async\" alt=\"\" src=\"http:\/\/citywidefinancialcorp.com\/newsletter\/images\/spacer.gif\" complete=\"complete\"><\/td>\n<\/tr>\n<tr>\n<td valign=\"top\" align=\"left\">\n<div><font face=\"Verdana, Times New Roman, Times, serif\"><font size=\"2\"><font face=\"Verdana, Times New Roman, Times, serif\"><font size=\"2\"><font face=\"Verdana, Times New Roman, Times, serif\"><font size=\"2\">Instead of just advising buyers to get a 30 year fixed loan, show them figures on a 25 year fixed, 20 and 15 year fixed loans. Shorter term loan rates are at their lowest on record currently. You would be surprised how many buyers actually want to take shorter term mortgages so they can payoff their homes earlier. Many buyers are looking to stay in their homes longer now and want to pay down as much principle as possible. Personally I think the 20 year fixed is a terrific loan, because with rates as low as 4.375% the payment will be affordable for a lot more buyers. <\/font><\/font><\/font><\/font><\/font><\/font><\/div>\n<\/td>\n<p><\/tr>\n<tr>\n<td bgcolor=\"#486e01\" height=\"26\" valign=\"middle\" width=\"190\"><img decoding=\"async\" alt=\"\" src=\"http:\/\/citywidefinancialcorp.com\/newsletter\/images\/icon_04.jpg\" complete=\"complete\"><\/td>\n<\/tr>\n<tr>\n<td><img decoding=\"async\" alt=\"\" src=\"http:\/\/citywidefinancialcorp.com\/newsletter\/images\/spacer.gif\" complete=\"complete\"><\/td>\n<\/tr>\n<tr>\n<td valign=\"top\" align=\"left\">\n<div align=\"center\"><font face=\"Verdana, Times New Roman, Times, serif\"><font size=\"2\"><a href=\"http:\/\/www.facebook.com\/MichaelADeery?ref=name\" target=\"_blank\"><img decoding=\"async\" border=\"0\" alt=\"\" src=\"http:\/\/citywidefinancialcorp.com\/newsletter\/images\/smm_fb.jpg\" complete=\"complete\"><\/a> <a href=\"http:\/\/twitter.com\/_MortgageExpert\" target=\"_blank\"><img decoding=\"async\" border=\"0\" alt=\"\" src=\"http:\/\/citywidefinancialcorp.com\/newsletter\/images\/smm_tw.jpg\" complete=\"complete\"><\/a><a href=\"http:\/\/citywidefinancialcorp.com\/blog\" target=\"_blank\"><img decoding=\"async\" border=\"0\" alt=\"\" src=\"http:\/\/citywidefinancialcorp.com\/newsletter\/images\/smm_blog.jpg\" complete=\"complete\"><\/a><a href=\"http:\/\/citywidefinancialcorp.com\/\" target=\"_blank\"><br \/>\n <font color=\"#0033ff\" size=\"4\"><strong>Visit my website<\/strong><\/font><\/a><\/font><\/font><\/div>\n<div align=\"center\"><font face=\"Verdana, Times New Roman, Times, serif\"><font size=\"2\"><br \/>\n <\/font><font color=\"#0033ff\" size=\"3\"><strong>Call Michael At <\/strong><\/font><\/font><\/div>\n<div align=\"center\"><font color=\"#0033ff\" face=\"Verdana, Times New Roman, Times, serif\"><strong>(858)-200-9602<\/strong><\/font><\/div>\n<div align=\"center\"><strong><font color=\"#0033ff\" face=\"Verdana\"> <\/font><\/strong><\/div>\n<div align=\"center\"><strong><font color=\"#0033ff\">Email Michael at <\/font><\/strong><a href=\"mailto:mdeery@citywidefinancialcorp.com\"><font color=\"#0033ff\" size=\"2\"><strong>mdeery@citywidefinancialcorp.com<\/strong><\/font><\/a><\/div>\n<p> <\/p>\n<\/td>\n<p><\/tr>\n<\/tbody>\n<\/table>\n<p><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p><\/td>\n<\/tr>\n<p><\/p>\n<tr>\n<td bgcolor=\"#206a99\" height=\"21\" valign=\"middle\" align=\"center\"><font color=\"#ffffff\" size=\"-2\" face=\"Times New Roman, Helvetica, sans-serif\">Copyright 2010 Michael A. Deery <img decoding=\"async\" alt=\"\" src=\"http:\/\/citywidefinancialcorp.com\/newsletter\/images\/spacer.gif\" complete=\"complete\">Newsletter design by Blaze Interactive<\/font><\/td>\n<\/tr>\n<p><\/tbody>\n<\/table>\n<p><\/center><br \/>\n <\/body><br \/>\n<\/html><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Mortgage Market Insider Euro Crisis Drives Mortgage Rates Down to Record Lows! Dear [fname] When the federal tax credits ended last month, everyone started wondering what will it take now to keep buyers interested in buying, or to get those picky buyers off the fence? The answer for now seems to to be the […]<\/p>\n","protected":false},"author":1,"featured_media":0,"parent":2383,"menu_order":0,"comment_status":"open","ping_status":"open","template":"","meta":{"footnotes":""},"class_list":["post-2475","page","type-page","status-publish","hentry"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/www.michaeladeery.com\/blog\/wp-json\/wp\/v2\/pages\/2475","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.michaeladeery.com\/blog\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/www.michaeladeery.com\/blog\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/www.michaeladeery.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.michaeladeery.com\/blog\/wp-json\/wp\/v2\/comments?post=2475"}],"version-history":[{"count":1,"href":"https:\/\/www.michaeladeery.com\/blog\/wp-json\/wp\/v2\/pages\/2475\/revisions"}],"predecessor-version":[{"id":2476,"href":"https:\/\/www.michaeladeery.com\/blog\/wp-json\/wp\/v2\/pages\/2475\/revisions\/2476"}],"up":[{"embeddable":true,"href":"https:\/\/www.michaeladeery.com\/blog\/wp-json\/wp\/v2\/pages\/2383"}],"wp:attachment":[{"href":"https:\/\/www.michaeladeery.com\/blog\/wp-json\/wp\/v2\/media?parent=2475"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}

{"id":2475,"date":"2014-05-05T16:02:30","date_gmt":"2014-05-05T16:02:30","guid":{"rendered":"http:\/\/www.michaeladeery.com\/blog\/?page_id=2475"},"modified":"2014-05-05T16:02:30","modified_gmt":"2014-05-05T16:02:30","slug":"euro-crisis-drives-mortgage-rates-down-to-record-lows","status":"publish","type":"page","link":"https:\/\/www.michaeladeery.com\/blog\/newsletter-archive\/euro-crisis-drives-mortgage-rates-down-to-record-lows\/","title":{"rendered":"Euro Crisis Drives Mortgage Rates Down to Record Lows!"},"content":{"rendered":"

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\n The Mortgage Market Insider<\/title><br \/>\n <meta content=\"text\/html; charset=iso-8859-1\" http-equiv=\"Content-Type\"><br \/>\n <\/head><br \/>\n <body link=\"#206a99\" vlink=\"#666666\" jquery1265513837921=\"34\" jquery1265513709875=\"28\" jquery1265512781062=\"40\" jquery1265512731828=\"28\" jquery1265512078437=\"39\" jquery1265511555703=\"366\" jquery1265510640921=\"36\" jquery1265499839890=\"63\" jquery1274747598171=\"179\" jquery1274747598171=\"179\"><br \/>\n <center><\/p>\n<table style=\"width: 600px; height: 3983px;\" border=\"1\" cellspacing=\"0\" bordercolor=\"#003264\" cellpadding=\"0\" width=\"600\"><\/p>\n<tbody>\n<tr>\n<td>\n<div><img loading=\"lazy\" decoding=\"async\" style=\"width: 604px; height: 161px;\" alt=\"\" src=\"http:\/\/citywidefinancialcorp.com\/newsletter\/images\/header.jpg\" width=\"604\" height=\"161\" complete=\"complete\"><\/div>\n<\/td>\n<\/tr>\n<p><\/p>\n<tr>\n<td><\/p>\n<table border=\"0\" cellspacing=\"0\" cellpadding=\"0\" width=\"600\">\n<tbody>\n<tr>\n<td valign=\"top\" width=\"409\" align=\"left\"><\/p>\n<table style=\"width: 380px; height: 3793px;\" border=\"0\" cellspacing=\"0\" cellpadding=\"0\" width=\"380\"><\/p>\n<tbody>\n<tr>\n<td bgcolor=\"#206a99\" height=\"26\" valign=\"middle\" width=\"380\">\n<div><img decoding=\"async\" alt=\"\" src=\"http:\/\/citywidefinancialcorp.com\/newsletter\/images\/spacer.gif\" complete=\"complete\"><font face=\"Times New Roman, Helvetica, sans-serif\"><font color=\"#ffffff\"><font size=\"4\">Euro Crisis Drives Mortgage Rates Down to Record Lows!<\/font><\/font><\/font><\/div>\n<\/td>\n<\/tr>\n<tr>\n<td><img decoding=\"async\" alt=\"\" src=\"http:\/\/citywidefinancialcorp.com\/newsletter\/images\/spacer.gif\" complete=\"complete\"><\/td>\n<\/tr>\n<tr>\n<td valign=\"top\" align=\"left\"><\/p>\n<table style=\"width: 375px; height: 3399px;\" border=\"0\" cellspacing=\"0\" cellpadding=\"0\">\n<tbody>\n<tr>\n<td><img decoding=\"async\" alt=\"\" src=\"http:\/\/citywidefinancialcorp.com\/newsletter\/images\/spacer.gif\" complete=\"complete\"><\/td>\n<td><font size=\"2\" face=\"Verdana\"><\/p>\n<div> <\/div>\n<div>Dear [fname]<\/div>\n<div> <\/div>\n<div>When the federal tax credits ended last month, everyone started wondering what will it take now to keep buyers interested in buying, or to get those picky buyers off the fence? The answer for now seems to to be the crisis in Europe. Because of the financial turmoil in the Euro Zone, mortgage rates have plummeted down in the past 10 days to match their lowest levels on record. For example did you know that a qualified buyer can get 3.99% on a 15 year fixed loan! <\/div>\n<div style=\"border-bottom: medium none; text-align: left; border-left: medium none; background-color: transparent; color: #000000; overflow: hidden; border-top: medium none; border-right: medium none; text-decoration: none;\" align=\"left\"> <\/div>\n<div style=\"border-bottom: medium none; text-align: left; border-left: medium none; background-color: transparent; color: #000000; overflow: hidden; border-top: medium none; border-right: medium none; text-decoration: none;\" align=\"left\"><img loading=\"lazy\" decoding=\"async\" title=\"\" alt=\"\" src=\"https:\/\/app.icontact.com\/icp\/loadimage.php\/mogile\/545159\/2312251d3c1496a481a7e2c6625cd253\/image\/jpeg\" width=\"111\" height=\"124\"><\/div>\n<div style=\"border-bottom: medium none; text-align: left; border-left: medium none; background-color: transparent; color: #000000; overflow: hidden; border-top: medium none; border-right: medium none; text-decoration: none;\" align=\"left\"> <\/div>\n<div style=\"border-bottom: medium none; text-align: left; border-left: medium none; background-color: transparent; color: #000000; overflow: hidden; border-top: medium none; border-right: medium none; text-decoration: none;\" align=\"left\"><strong>Get the word out to all buyers<\/strong><\/div>\n<div style=\"border-bottom: medium none; text-align: left; border-left: medium none; background-color: transparent; color: #000000; overflow: hidden; border-top: medium none; border-right: medium none; text-decoration: none;\" align=\"left\">I don’t think even the media has caught onto how low rates are yet, as this sudden drop in rates has happened so fast. But this presents a great opportunity to market to any buyers who may have been a little disappointed in missing out on the $8k tax credit or to buyers who still are on the fence. Because with these really low rates, buying a home now will present an opportunity for a buyer to save more money than they would have received from the $8k federal tax credit when rates were higher. <\/div>\n<div style=\"border-bottom: medium none; text-align: left; border-left: medium none; background-color: transparent; color: #000000; overflow: hidden; border-top: medium none; border-right: medium none; text-decoration: none;\" align=\"left\"> <\/div>\n<div style=\"border-bottom: medium none; text-align: left; border-left: medium none; background-color: transparent; color: #000000; overflow: hidden; border-top: medium none; border-right: medium none; text-decoration: none;\" align=\"left\"><b><b>Show buyers how these low rates have more savings than the $8k tax credit<\/b> <\/b><\/div>\n<div style=\"border-bottom: medium none; text-align: left; border-left: medium none; background-color: transparent; color: #000000; overflow: hidden; border-top: medium none; border-right: medium none; text-decoration: none;\" align=\"left\">If anyone was wondering if the tax credits that ended April 30th would have an affect on buyers? well they had their answer last week. Purchase applications had their biggest drop in 13 years as applications plummeted 27% for the week ending May 14th. Here is an article <a title=\"http:\/\/click.icptrack.com\/icp\/relay.php?r=-1&msgid=0&act=11111&c=545159&destination=http%3A%2F%2Fwww.mortgagenewsdaily.com%2F05192010_housing_industry_s_worst_fears.asp\" href=\"http:\/\/www.mortgagenewsdaily.com\/05192010_housing_industry_s_worst_fears.asp\"><font title=\"http:\/\/click.icptrack.com\/icp\/relay.php?r=-1&msgid=0&act=11111&c=545159&destination=http%3A%2F%2Fwww.mortgagenewsdaily.com%2F05192010_housing_industry_s_worst_fears.asp\" color=\"#0033ff\"><strong title=\"http:\/\/click.icptrack.com\/icp\/relay.php?r=-1&msgid=0&act=11111&c=545159&destination=http%3A%2F%2Fwww.mortgagenewsdaily.com%2F05192010_housing_industry_s_worst_fears.asp\">Purchase apps drop to their lowest level in 13 years<\/strong><\/font><\/a>. <\/div>\n<div style=\"border-bottom: medium none; text-align: left; border-left: medium none; background-color: transparent; color: #000000; overflow: hidden; border-top: medium none; border-right: medium none; text-decoration: none;\" align=\"left\"> <\/div>\n<div style=\"border-bottom: medium none; text-align: left; border-left: medium none; background-color: transparent; color: #000000; overflow: hidden; border-top: medium none; border-right: medium none; text-decoration: none;\" align=\"left\">So obviously there are a lot of buyers out there who are disappointed they missed out on the $8k credit. So if the tax carrots are gone buyers are going to need some other incentive to buy now. These record low rates present a great opportunity to show these buyers on the fence how they can save more money than the $8k credit if they secure a loan now. Here are a few ways to show them the numbers. <\/div>\n<div style=\"border-bottom: medium none; text-align: left; border-left: medium none; background-color: transparent; color: #000000; overflow: hidden; border-top: medium none; border-right: medium none; text-decoration: none;\" align=\"left\"> <\/div>\n<div style=\"border-bottom: medium none; text-align: left; border-left: medium none; background-color: transparent; color: #000000; overflow: hidden; border-top: medium none; border-right: medium none; text-decoration: none;\" align=\"left\">\n <\/d><img loading=\"lazy\" decoding=\"async\" title=\"\" alt=\"\" src=\"https:\/\/app.icontact.com\/icp\/loadimage.php\/mogile\/545159\/942d6d053176eedc84f1d40d1ecce774\/image\/jpeg\" width=\"122\" height=\"97\"><\/div>\n<div style=\"border-bottom: medium none; text-align: left; border-left: medium none; background-color: transparent; color: #000000; overflow: hidden; border-top: medium none; border-right: medium none; text-decoration: none;\" align=\"left\"> <\/div>\n<div style=\"border-bottom: medium none; text-align: left; border-left: medium none; background-color: transparent; color: #000000; overflow: hidden; border-top: medium none; border-right: medium none; text-decoration: none;\" align=\"left\"><strong>1. Show buyers how to recoup the tax credit loss of $8k and more by securing a record low rate.<\/strong> Because rates are roughly -.375 to -.5% lower than they were a month ago, the savings long term on a loan at 4.625% will more than make up for the loss of the $8k credit on a loan at 5%. <\/div>\n<div style=\"border-bottom: medium none; text-align: left; border-left: medium none; background-color: transparent; color: #000000; overflow: hidden; border-top: medium none; border-right: medium none; text-decoration: none;\" align=\"justify\"><b> <\/b><\/div>\n<div style=\"border-bottom: medium none; text-align: left; border-left: medium none; background-color: transparent; color: #000000; overflow: hidden; border-top: medium none; border-right: medium none; text-decoration: none;\" align=\"justify\"><b>Loan A Loan B<\/b><\/div>\n<div style=\"border-bottom: medium none; text-align: left; border-left: medium none; background-color: transparent; color: #000000; overflow: hidden; border-top: medium none; border-right: medium none; text-decoration: none;\" align=\"justify\"><strong> <\/strong><\/div>\n<div style=\"border-bottom: medium none; text-align: left; border-left: medium none; background-color: transparent; color: #000000; overflow: hidden; border-top: medium none; border-right: medium none; text-decoration: none;\" align=\"justify\"><b>Before tax credit After tax credit<\/b><\/div>\n<p style=\"border-bottom: medium none; text-align: left; border-left: medium none; background-color: transparent; color: #000000; overflow: hidden; border-top: medium none; border-right: medium none; text-decoration: none;\" align=\"justify\">$400k loan $400k loan<\/p>\n<p style=\"border-bottom: medium none; text-align: left; border-left: medium none; background-color: transparent; color: #000000; overflow: hidden; border-top: medium none; border-right: medium none; text-decoration: none;\" align=\"justify\">5% interest 4.625% interest <\/p>\n<div style=\"border-bottom: medium none; text-align: left; border-left: medium none; background-color: transparent; color: #000000; overflow: hidden; border-top: medium none; border-right: medium none; text-decoration: none;\" align=\"justify\">Payment $2379 Payment $2291 <\/div>\n<div style=\"border-bottom: medium none; text-align: left; border-left: medium none; background-color: transparent; color: #000000; overflow: hidden; border-top: medium none; border-right: medium none; text-decoration: none;\" align=\"justify\"> <\/div>\n<div style=\"border-bottom: medium none; text-align: left; border-left: medium none; background-color: transparent; color: #000000; overflow: hidden; border-top: medium none; border-right: medium none; text-decoration: none;\" align=\"justify\"><strong>Monthly savings = $88<\/strong><\/div>\n<div style=\"border-bottom: medium none; text-align: left; border-left: medium none; background-color: transparent; color: #000000; overflow: hidden; border-top: medium none; border-right: medium none; text-decoration: none;\" align=\"justify\"><strong> <\/strong><\/div>\n<div style=\"border-bottom: medium none; text-align: left; border-left: medium none; background-color: transparent; color: #000000; overflow: hidden; border-top: medium none; border-right: medium none; text-decoration: none;\" align=\"justify\"><strong>$88 x 30 years = $31,680 total savings<\/strong><\/div>\n<div style=\"border-bottom: medium none; text-align: left; border-left: medium none; background-color: transparent; color: #000000; overflow: hidden; border-top: medium none; border-right: medium none; text-decoration: none;\" align=\"justify\"><strong> <\/strong><\/div>\n<div style=\"border-bottom: medium none; text-align: left; border-left: medium none; background-color: transparent; color: #000000; overflow: hidden; border-top: medium none; border-right: medium none; text-decoration: none;\" align=\"justify\">If you multiply the $88 monthly savings over 30 years, this amounts to $31,680 in total savings<strong>.<\/strong> So the loan made after the tax credit deadline ends up being a better investment than the loan that received the $8k tax credit, as the before tax credit loan had a higher rate. <\/div>\n<div style=\"border-bottom: medium none; text-align: left; border-left: medium none; background-color: transparent; color: #000000; overflow: hidden; border-top: medium none; border-right: medium none; text-decoration: none;\" align=\"justify\"> <\/div>\n<div style=\"border-bottom: medium none; text-align: left; border-left: medium none; background-color: transparent; color: #000000; overflow: hidden; border-top: medium none; border-right: medium none; text-decoration: none;\" align=\"justify\"><strong>2. Show buyers a 25 year fixed loan instead<\/strong><\/div>\n<div style=\"border-bottom: medium none; text-align: left; border-left: medium none; background-color: transparent; color: #000000; overflow: hidden; border-top: medium none; border-right: medium none; text-decoration: none;\" align=\"justify\">Did you know that some lenders offer a 25 year fixed loan? With the rate on a 25 year loan at 4.625%, you can now show a buyer a payment on a 25 year fixed loan that will almost match the payment they had on a 30 year fixed loan that had a higher rate recently. This will save 5 years off their mortgage. For example. The payments at 5.125% on a 30 year fixed are almost the same as a loan at 4.625% on a 25 year fixed.<\/div>\n<div style=\"border-bottom: medium none; text-align: left; border-left: medium none; background-color: transparent; color: #000000; overflow: hidden; border-top: medium none; border-right: medium none; text-decoration: none;\" align=\"justify\"> <\/div>\n<div style=\"border-bottom: medium none; text-align: left; border-left: medium none; background-color: transparent; color: #000000; overflow: hidden; border-top: medium none; border-right: medium none; text-decoration: none;\" align=\"justify\">Using the example above on the $400k loan at 5% with a $2379 payment, saving 5 years mortgage payments will amount to $142,740 in mortgage payments and interest. This is a great way to show someone how to make a great investment with a shorter term loan, and all of a sudden the $8k tax credit does not seem as important compared to 5 years worth of mortgage payment savings.<\/div>\n<div style=\"border-bottom: medium none; text-align: left; border-left: medium none; background-color: transparent; color: #000000; overflow: hidden; border-top: medium none; border-right: medium none; text-decoration: none;\" align=\"justify\"> <\/div>\n<div style=\"border-bottom: medium none; text-align: left; border-left: medium none; background-color: transparent; color: #000000; overflow: hidden; border-top: medium none; border-right: medium none; text-decoration: none;\" align=\"left\"><strong>So<\/strong> <strong>how low are rates?<\/strong><\/div>\n<div style=\"border-bottom: medium none; text-align: left; border-left: medium none; background-color: transparent; color: #000000; overflow: hidden; border-top: medium none; border-right: medium none; text-decoration: none;\" align=\"left\">Rates are now at 50 year lows. Qualified buyers with excellent credit scores and good down payments can now get 3.99% on a 15 year fixed, or a 20 year fixed is at 4.375% and a 30 year fixed around 4.625%, but I have one lender that can offer qualified first time buyers 4.49% on a 30 year fixed. Jumbo loan rates are also incredible right now too at 4.875% for loans up to $729k. <\/div>\n<div style=\"border-bottom: medium none; text-align: left; border-left: medium none; background-color: transparent; color: #000000; overflow: hidden; border-top: medium none; border-right: medium none; text-decoration: none;\" align=\"left\"><b> <\/b><\/div>\n<div style=\"border-bottom: medium none; text-align: left; border-left: medium none; background-color: transparent; color: #000000; overflow: hidden; border-top: medium none; border-right: medium none; text-decoration: none;\" align=\"left\"><b>What is causing mortgage rates to go so low?<\/b><\/div>\n<div style=\"border-bottom: medium none; text-align: left; border-left: medium none; background-color: transparent; color: #000000; overflow: hidden; border-top: medium none; border-right: medium none; text-decoration: none;\" align=\"left\">Economists largely attribute the decline in mortgage rates to the European debt crisis and new concerns about the global economy, which unleashed a massive wave of cash into U.S. bonds from investors around the world. <\/div>\n<div style=\"border-bottom: medium none; text-align: left; border-left: medium none; background-color: transparent; color: #000000; overflow: hidden; border-top: medium none; border-right: medium none; text-decoration: none;\" align=\"left\"> <\/div>\n<div style=\"border-bottom: medium none; text-align: left; border-left: medium none; background-color: transparent; color: #000000; overflow: hidden; border-top: medium none; border-right: medium none; text-decoration: none;\" align=\"left\"><img loading=\"lazy\" decoding=\"async\" style=\"width: 169px; height: 116px;\" title=\"\" alt=\"\" src=\"https:\/\/app.icontact.com\/icp\/loadimage.php\/mogile\/545159\/8ecee2df693b724dd4ae4f7c8ebc853f\/image\/jpeg\" width=\"169\" height=\"116\"><\/div>\n<div style=\"border-bottom: medium none; text-align: left; border-left: medium none; background-color: transparent; color: #000000; overflow: hidden; border-top: medium none; border-right: medium none; text-decoration: none;\" align=\"left\"> <\/div>\n<div style=\"border-bottom: medium none; text-align: left; border-left: medium none; background-color: transparent; color: #000000; overflow: hidden; border-top: medium none; border-right: medium none; text-decoration: none;\" align=\"left\">Even though EU officials, the IMF (International Monetary Fund), and global central bankers officially have "addressed" the European fiscal crisis, market participants have not yet been convinced that the worst is behind and instead chose to continue to allocate funds into risk-averse assets like government guaranteed U.S. Treasuries. This "flight to safety" has allowed mortgage bonds to move higher and rates to go lower.<\/div>\n<div style=\"border-bottom: medium none; text-align: left; border-left: medium none; background-color: transparent; color: #000000; overflow: hidden; border-top: medium none; border-right: medium none; text-decoration: none;\" align=\"left\"> <\/div>\n<div style=\"border-bottom: medium none; text-align: left; border-left: medium none; background-color: transparent; color: #000000; overflow: hidden; border-top: medium none; border-right: medium none; text-decoration: none;\" align=\"left\">A flight to safety occurs when investors are nervous about owning risky assets like stocks, but do not want to miss out on earning a return on their funds, so they allocate money into risk-free U.S Treasury debt to provide a safe-haven AND an investment return. As Treasury yields fall, prices of mortgage backed-securities move higher, which allows lenders to offer lower mortgage rates. As Treasury yields rise, mortgage-backed security prices are led lower, which forces lenders to push mortgage rates higher.<\/div>\n<div style=\"border-bottom: medium none; text-align: left; border-left: medium none; background-color: transparent; color: #000000; overflow: hidden; border-top: medium none; border-right: medium none; text-decoration: none;\" align=\"left\"> <\/div>\n<div style=\"border-bottom: medium none; text-align: left; border-left: medium none; background-color: transparent; color: #000000; overflow: hidden; border-top: medium none; border-right: medium none; text-decoration: none;\" align=\"left\"><img loading=\"lazy\" decoding=\"async\" title=\"\" alt=\"\" src=\"https:\/\/app.icontact.com\/icp\/loadimage.php\/mogile\/545159\/5dc049404817d1b5f003a2dd85c915b6\/image\/jpeg\" width=\"78\" height=\"117\"><\/div>\n<div style=\"border-bottom: medium none; text-align: left; border-left: medium none; background-color: transparent; color: #000000; overflow: hidden; border-top: medium none; border-right: medium none; text-decoration: none;\" align=\"left\"> <\/div>\n<div style=\"border-bottom: medium none; text-align: left; border-left: medium none; background-color: transparent; color: #000000; overflow: hidden; border-top: medium none; border-right: medium none; text-decoration: none;\" align=\"left\"><b>Where will rates go from here?<\/b><strong> <\/strong><\/div>\n<div style=\"border-bottom: medium none; text-align: left; border-left: medium none; background-color: transparent; color: #000000; overflow: hidden; border-top: medium none; border-right: medium none; text-decoration: none;\" align=\"left\">Economists are advising that predicting rates has become a little more difficult due to unforseen circumstances. NO ONE predicted the current chaos in Europe, in fact everyone had predicted mortgage rates to increase significantly after the Feds pulled the plug on their rate reduction program on March 31st this year. <\/div>\n<div style=\"border-bottom: medium none; text-align: left; border-left: medium none; background-color: transparent; color: #000000; overflow: hidden; border-top: medium none; border-right: medium none; text-decoration: none;\" align=\"left\"> <\/div>\n<div style=\"border-bottom: medium none; text-align: left; border-left: medium none; background-color: transparent; color: #000000; overflow: hidden; border-top: medium none; border-right: medium none; text-decoration: none;\" align=\"left\">For now, I don’t think the troubles in the European markets are going to go away anytime soon. It really is a crisis of confidence right now in the Euro zone because the markets know that these countries are not going to solve their debt problems overnight. So with that being said, I would say we are going to have a low interest rate environment here in the US at least for the next few months, unless there is another crazy twist in the financial markets that has not been accounted for yet.<\/div>\n<div style=\"border-bottom: medium none; text-align: left; border-left: medium none; background-color: transparent; color: #000000; overflow: hidden; border-top: medium none; border-right: medium none; text-decoration: none;\" align=\"left\"> <\/div>\n<div style=\"border-bottom: medium none; text-align: left; border-left: medium none; background-color: transparent; color: #000000; overflow: hidden; border-top: medium none; border-right: medium none; text-decoration: none;\" align=\"left\"> <img loading=\"lazy\" decoding=\"async\" title=\"\" alt=\"\" src=\"https:\/\/app.icontact.com\/icp\/loadimage.php\/mogile\/545159\/27a3cc15cb5aeaec460d8fc4e74dc715\/image\/jpeg\" width=\"111\" height=\"70\"><\/div>\n<div style=\"border-bottom: medium none; text-align: left; border-left: medium none; background-color: transparent; color: #000000; overflow: hidden; border-top: medium none; border-right: medium none; text-decoration: none;\" align=\"left\"> <\/div>\n<div style=\"border-bottom: medium none; text-align: left; border-left: medium none; background-color: transparent; color: #000000; overflow: hidden; border-top: medium none; border-right: medium none; text-decoration: none;\" align=\"left\"><b>Another golden opportunity for buyers on the fence<\/b><\/div>\n<div style=\"border-bottom: medium none; text-align: left; border-left: medium none; background-color: transparent; color: #000000; overflow: hidden; border-top: medium none; border-right: medium none; text-decoration: none;\" align=\"left\">There is no doubt that the end of the tax credits has lowered demand for housing. But with these sudden low rates, there truly lies another golden opportunity for a buyer to get a much lower payment on a loan that was not available a few weeks ago. Also, lower mortgage rates can give a powerful lift to a buyers purchasing ability too, A general rule of thumb holds that for every 1% percentage point decline in rates, is the equivalent of roughly a 10% reduction in the home price for a buyer. <\/div>\n<div style=\"border-bottom: medium none; text-align: left; border-left: medium none; background-color: transparent; color: #000000; overflow: hidden; border-top: medium none; border-right: medium none; text-decoration: none;\" align=\"left\"> <\/div>\n<div style=\"border-bottom: medium none; text-align: left; border-left: medium none; background-color: transparent; color: #000000; overflow: hidden; border-top: medium none; border-right: medium none; text-decoration: none;\" align=\"left\">A good idea is to go over these new lower rates with all buyers and see if this will change their buying decision. As lower rates will help some buyers afford a slightly larger home, or a lower rate will mean that the new mortgage payment now fits within their budget. <\/div>\n<div style=\"border-bottom: medium none; text-align: left; border-left: medium none; background-color: transparent; color: #000000; overflow: hidden; border-top: medium none; border-right: medium none; text-decoration: none;\" align=\"left\"> <\/div>\n<div style=\"border-bottom: medium none; text-align: left; border-left: medium none; background-color: transparent; color: #000000; overflow: hidden; border-top: medium none; border-right: medium none; text-decoration: none;\" align=\"left\">If you have any questions in regards to any of the information above or you need help getting anyone pre-approved for financing, please feel free to contact me directly at 858-200-9602. I look forward to chatting soon<\/div>\n<div style=\"border-bottom: medium none; text-align: left; border-left: medium none; background-color: transparent; color: #000000; overflow: hidden; border-top: medium none; border-right: medium none; text-decoration: none;\" align=\"left\"> <\/div>\n<div style=\"border-bottom: medium none; text-align: left; border-left: medium none; background-color: transparent; color: #000000; overflow: hidden; border-top: medium none; border-right: medium none; text-decoration: none;\" align=\"left\"> <\/div>\n<p><\/font><\/p>\n<div>\n<div><img decoding=\"async\" alt=\"\" src=\"http:\/\/citywidefinancialcorp.com\/newsletter\/images\/sign.jpg\" complete=\"complete\"><\/div>\n<\/div>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p><a href=\"https:\/\/app.icontact.com\/icp\/core\/message\/forward?m=197094&s=17811376&c=1ZE3&cid=545159\"><img decoding=\"async\" border=\"0\" alt=\"\" src=\"http:\/\/citywidefinancialcorp.com\/newsletter\/images\/forward.jpg\"><\/a><\/td>\n<\/tr>\n<tr>\n<td><img decoding=\"async\" alt=\"\" src=\"http:\/\/citywidefinancialcorp.com\/newsletter\/images\/spacer.gif\" complete=\"complete\"><\/td>\n<\/tr>\n<tr>\n<td valign=\"top\" align=\"left\">\n<div><\/div>\n<div> <\/div>\n<div><a href=\"http:\/\/www.michaeladeery.com\/blog\/please-sign-up-for-the-mortgage-market-insider-newsletter\/\"><img decoding=\"async\" border=\"0\" alt=\"\" src=\"http:\/\/citywidefinancialcorp.com\/newsletter\/images\/subscribe.jpg\"><\/a><\/div>\n<div> <\/div>\n<\/td>\n<\/tr>\n<p><\/p>\n<tr>\n<td><img decoding=\"async\" alt=\"\" src=\"http:\/\/citywidefinancialcorp.com\/newsletter\/images\/spacer.gif\" complete=\"complete\"><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p><\/td>\n<td bgcolor=\"#eceacd\" valign=\"top\" width=\"191\" align=\"left\"><\/p>\n<table border=\"0\" cellspacing=\"0\" cellpadding=\"5\" width=\"100%\"><\/p>\n<tbody>\n<tr>\n<td bgcolor=\"#486e01\" height=\"26\" valign=\"middle\" width=\"200\"><font size=\"4\"><font color=\"#ffffff\"><strong>In This Issue<\/strong> <\/font><\/font><\/td>\n<\/tr>\n<tr>\n<td valign=\"top\"><img decoding=\"async\" alt=\"\" src=\"http:\/\/citywidefinancialcorp.com\/newsletter\/images\/spacer.gif\" complete=\"complete\"><\/td>\n<\/tr>\n<tr>\n<td valign=\"top\" align=\"left\">\n<ul>\n<li><font size=\"2\" face=\"Verdana\">Euro Crisis Drives Mortgage Rates to Record Lows! <\/font><\/li>\n<li><font size=\"2\" face=\"Verdana\">Show buyers how these low rates create more savings than the $8k tax credit <\/font><\/li>\n<li><font size=\"2\" face=\"Verdana\">Show buyers a 25 year fixed loan<\/font> <\/li>\n<li><font size=\"2\" face=\"Verdana\">Where will rates go from here?<\/font> <\/li>\n<\/ul>\n<\/td>\n<\/tr>\n<p><\/p>\n<tr>\n<td><img decoding=\"async\" alt=\"\" src=\"http:\/\/citywidefinancialcorp.com\/newsletter\/images\/spacer.gif\" complete=\"complete\"><\/td>\n<\/tr>\n<p><\/p>\n<tr>\n<td bgcolor=\"#486e01\" height=\"26\" valign=\"middle\" width=\"190\"><img decoding=\"async\" alt=\"\" src=\"http:\/\/citywidefinancialcorp.com\/newsletter\/images\/icon_01.jpg\" complete=\"complete\"><\/td>\n<\/tr>\n<tr>\n<td>\n<div> <\/div>\n<\/td>\n<\/tr>\n<tr>\n<td>\n<div><font color=\"#cc0099\"><\/p>\n<div align=\"justify\"><a href=\"http:\/\/www.michaeladeery.com\/blog\/category\/underwriters-reveal-5-reasons-loans-are-getting-denied\/\"><font color=\"#0033ff\"><strong><\/p>\n<p>Underwriters Reveal the Main Reasons Loans are Being Denied<\/p>\n<p><\/strong><\/font><\/a><\/div>\n<p><\/font><\/div>\n<div><font color=\"#3333ff\"><font face=\"Verdana, Times New Roman, Times, serif\"><a title=\"http:\/\/click.icptrack.com\/icp\/relay.php?r=-1&msgid=0&act=11111&c=545159&destination=http%3A%2F%2Fwww.michaeladeery.com%2Fblog%2Fthe-95-conventional-loan-is-back-for-new-home-buyers%2F\" href=\"http:\/\/www.michaeladeery.com\/blog\/the-95-conventional-loan-is-back-for-new-home-buyers\/\"><font title=\"http:\/\/click.icptrack.com\/icp\/relay.php?r=-1&msgid=0&act=11111&c=545159&destination=http%3A%2F%2Fwww.michaeladeery.com%2Fblog%2Fthe-95-conventional-loan-is-back-for-new-home-buyers%2F\" color=\"#0033ff\" size=\"2\"><strong>95% Financing is Back Again for New Buyers<\/strong><\/font><\/a><a title=\"homepath\" href=\"http:\/\/www.michaeladeery.com\/blog\/category\/homepath-loans\/\"> <\/a><\/font><\/font><\/div>\n<div><font color=\"#3333ff\"><strong> <\/strong><\/font><\/div>\n<div><font color=\"#3333ff\"><a title=\"http:\/\/click.icptrack.com\/icp\/relay.php?r=-1&msgid=0&act=11111&c=545159&destination=http%3A%2F%2Fwww.michaeladeery.com%2Fblog%2Fqualified-va-buyers-get-8k-tax-credit-extended-to-june-2011%2F\" href=\"http:\/\/www.michaeladeery.com\/blog\/qualified-va-buyers-get-8k-tax-credit-extended-to-june-2011\/\"><font title=\"http:\/\/click.icptrack.com\/icp\/relay.php?r=-1&msgid=0&act=11111&c=545159&destination=http%3A%2F%2Fwww.michaeladeery.com%2Fblog%2Fqualified-va-buyers-get-8k-tax-credit-extended-to-june-2011%2F\" color=\"#0033ff\"><strong>Qualified VA Buyers Get $8k Tax Credit Extended to June 2011<\/strong><\/font><\/a><a title=\"condos\" href=\"http:\/\/www.michaeladeery.com\/blog\/home-loans-in-san-diego-and-condos\/\"> <\/a><\/font><\/div>\n<div><font color=\"#3333ff\"><strong> <\/strong><\/font><\/div>\n<div><font color=\"#3333ff\"><a title=\"http:\/\/click.icptrack.com\/icp\/relay.php?r=-1&msgid=0&act=11111&c=545159&destination=http%3A%2F%2Fwww.mortgagenewsdaily.com%2F05192010_housing_industry_s_worst_fears.asp\" href=\"http:\/\/www.mortgagenewsdaily.com\/05192010_housing_industry_s_worst_fears.asp\"><font title=\"http:\/\/click.icptrack.com\/icp\/relay.php?r=-1&msgid=0&act=11111&c=545159&destination=http%3A%2F%2Fwww.mortgagenewsdaily.com%2F05192010_housing_industry_s_worst_fears.asp\" color=\"#0033ff\"><strong>Purchase Applications Drop to their Lowest Levels in 13 Years<\/strong><\/font><\/a><\/font><\/div>\n<\/td>\n<\/tr>\n<p><\/p>\n<tr>\n<td valign=\"top\" align=\"left\">\n<div> <\/div>\n<\/td>\n<\/tr>\n<tr>\n<td><img decoding=\"async\" alt=\"\" src=\"http:\/\/citywidefinancialcorp.com\/newsletter\/images\/spacer.gif\" complete=\"complete\"><\/td>\n<\/tr>\n<p><\/p>\n<tr>\n<td bgcolor=\"#486e01\" height=\"18\" valign=\"bottom\" width=\"190\"><img decoding=\"async\" alt=\"\" src=\"http:\/\/citywidefinancialcorp.com\/newsletter\/images\/icon_02.jpg\" complete=\"complete\"><\/td>\n<\/tr>\n<tr>\n<td><img decoding=\"async\" alt=\"\" src=\"http:\/\/citywidefinancialcorp.com\/newsletter\/images\/spacer.gif\" complete=\"complete\"><\/td>\n<\/tr>\n<tr>\n<td valign=\"top\" align=\"left\"><font face=\"Verdana, Times New Roman, Times, serif\"><font size=\"2\"><font face=\"Verdana, Times New Roman, Times, serif\"><font size=\"2\">As of July 1st Fannie Mae is going to allow buyers who had a short sale two years ago buy a new home as long as they put 20% down. Under current guidelines a buyer has to wait 4 years before they can buy after a short sale. It must be be noted that if a buyer wants to put down less than 20% they will still have to wait the 4 year period. This is a great opportunity for some of the buyers that you may have worked with 2 years ago who maybe interested in buying again. As July 1st is just around the corner, it might be a good time to send out a marketing piece to get the word out to buyers who can qualify again under this new rule change<\/font><\/font>!<\/font><\/font><\/td>\n<p><\/tr>\n<tr>\n<td><img decoding=\"async\" alt=\"\" src=\"http:\/\/citywidefinancialcorp.com\/newsletter\/images\/spacer.gif\" complete=\"complete\"><\/td>\n<\/tr>\n<p><\/p>\n<tr>\n<td bgcolor=\"#486e01\" height=\"26\" valign=\"middle\" width=\"190\"><img decoding=\"async\" alt=\"\" src=\"http:\/\/citywidefinancialcorp.com\/newsletter\/images\/icon_03.jpg\" complete=\"complete\"><\/td>\n<\/tr>\n<tr>\n<td><img decoding=\"async\" alt=\"\" src=\"http:\/\/citywidefinancialcorp.com\/newsletter\/images\/spacer.gif\" complete=\"complete\"><\/td>\n<\/tr>\n<tr>\n<td valign=\"top\" align=\"left\">\n<div><font face=\"Verdana, Times New Roman, Times, serif\"><font size=\"2\"><font face=\"Verdana, Times New Roman, Times, serif\"><font size=\"2\"><font face=\"Verdana, Times New Roman, Times, serif\"><font size=\"2\">Instead of just advising buyers to get a 30 year fixed loan, show them figures on a 25 year fixed, 20 and 15 year fixed loans. Shorter term loan rates are at their lowest on record currently. You would be surprised how many buyers actually want to take shorter term mortgages so they can payoff their homes earlier. Many buyers are looking to stay in their homes longer now and want to pay down as much principle as possible. Personally I think the 20 year fixed is a terrific loan, because with rates as low as 4.375% the payment will be affordable for a lot more buyers. <\/font><\/font><\/font><\/font><\/font><\/font><\/div>\n<\/td>\n<p><\/tr>\n<tr>\n<td bgcolor=\"#486e01\" height=\"26\" valign=\"middle\" width=\"190\"><img decoding=\"async\" alt=\"\" src=\"http:\/\/citywidefinancialcorp.com\/newsletter\/images\/icon_04.jpg\" complete=\"complete\"><\/td>\n<\/tr>\n<tr>\n<td><img decoding=\"async\" alt=\"\" src=\"http:\/\/citywidefinancialcorp.com\/newsletter\/images\/spacer.gif\" complete=\"complete\"><\/td>\n<\/tr>\n<tr>\n<td valign=\"top\" align=\"left\">\n<div align=\"center\"><font face=\"Verdana, Times New Roman, Times, serif\"><font size=\"2\"><a href=\"http:\/\/www.facebook.com\/MichaelADeery?ref=name\" target=\"_blank\"><img decoding=\"async\" border=\"0\" alt=\"\" src=\"http:\/\/citywidefinancialcorp.com\/newsletter\/images\/smm_fb.jpg\" complete=\"complete\"><\/a> <a href=\"http:\/\/twitter.com\/_MortgageExpert\" target=\"_blank\"><img decoding=\"async\" border=\"0\" alt=\"\" src=\"http:\/\/citywidefinancialcorp.com\/newsletter\/images\/smm_tw.jpg\" complete=\"complete\"><\/a><a href=\"http:\/\/citywidefinancialcorp.com\/blog\" target=\"_blank\"><img decoding=\"async\" border=\"0\" alt=\"\" src=\"http:\/\/citywidefinancialcorp.com\/newsletter\/images\/smm_blog.jpg\" complete=\"complete\"><\/a><a href=\"http:\/\/citywidefinancialcorp.com\/\" target=\"_blank\"><br \/>\n <font color=\"#0033ff\" size=\"4\"><strong>Visit my website<\/strong><\/font><\/a><\/font><\/font><\/div>\n<div align=\"center\"><font face=\"Verdana, Times New Roman, Times, serif\"><font size=\"2\"><br \/>\n <\/font><font color=\"#0033ff\" size=\"3\"><strong>Call Michael At <\/strong><\/font><\/font><\/div>\n<div align=\"center\"><font color=\"#0033ff\" face=\"Verdana, Times New Roman, Times, serif\"><strong>(858)-200-9602<\/strong><\/font><\/div>\n<div align=\"center\"><strong><font color=\"#0033ff\" face=\"Verdana\"> <\/font><\/strong><\/div>\n<div align=\"center\"><strong><font color=\"#0033ff\">Email Michael at <\/font><\/strong><a href=\"mailto:mdeery@citywidefinancialcorp.com\"><font color=\"#0033ff\" size=\"2\"><strong>mdeery@citywidefinancialcorp.com<\/strong><\/font><\/a><\/div>\n<p> <\/p>\n<\/td>\n<p><\/tr>\n<\/tbody>\n<\/table>\n<p><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p><\/td>\n<\/tr>\n<p><\/p>\n<tr>\n<td bgcolor=\"#206a99\" height=\"21\" valign=\"middle\" align=\"center\"><font color=\"#ffffff\" size=\"-2\" face=\"Times New Roman, Helvetica, sans-serif\">Copyright 2010 Michael A. Deery <img decoding=\"async\" alt=\"\" src=\"http:\/\/citywidefinancialcorp.com\/newsletter\/images\/spacer.gif\" complete=\"complete\">Newsletter design by Blaze Interactive<\/font><\/td>\n<\/tr>\n<p><\/tbody>\n<\/table>\n<p><\/center><br \/>\n <\/body><br \/>\n<\/html><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Mortgage Market Insider Euro Crisis Drives Mortgage Rates Down to Record Lows! Dear [fname] When the federal tax credits ended last month, everyone started wondering what will it take now to keep buyers interested in buying, or to get those picky buyers off the fence? The answer for now seems to to be the […]<\/p>\n","protected":false},"author":1,"featured_media":0,"parent":2383,"menu_order":0,"comment_status":"open","ping_status":"open","template":"","meta":{"footnotes":""},"class_list":["post-2475","page","type-page","status-publish","hentry"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/www.michaeladeery.com\/blog\/wp-json\/wp\/v2\/pages\/2475","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.michaeladeery.com\/blog\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/www.michaeladeery.com\/blog\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/www.michaeladeery.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.michaeladeery.com\/blog\/wp-json\/wp\/v2\/comments?post=2475"}],"version-history":[{"count":1,"href":"https:\/\/www.michaeladeery.com\/blog\/wp-json\/wp\/v2\/pages\/2475\/revisions"}],"predecessor-version":[{"id":2476,"href":"https:\/\/www.michaeladeery.com\/blog\/wp-json\/wp\/v2\/pages\/2475\/revisions\/2476"}],"up":[{"embeddable":true,"href":"https:\/\/www.michaeladeery.com\/blog\/wp-json\/wp\/v2\/pages\/2383"}],"wp:attachment":[{"href":"https:\/\/www.michaeladeery.com\/blog\/wp-json\/wp\/v2\/media?parent=2475"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}