Remember when these were all you had to call home when you were on the road? So do I, and interest rates are lower now than they were back when these were being phased out for touch-tone payphones.
The stock market improved today by more than 200 points. Interest rates dropped. Rates are loosely tied to what happens in the bond market. What happened today is contrary to what usually happens. Bonds and stocks usually move in opposite directions.
You don't care why. Take advantage of it. If you're looking for a mortgage of any kind, 30 year fixed rates for the best borrowers (good credit, W2 wage earner) are back below 5%, with APRs in the low 5s, depending on your loan adjustments.
Okay. You're the one person who actually wants to know why. I'll tell you. Today's auction by the Federal Reserve of $11 billion in 30 year bonds was mobbed. Demand was high, so rates fell. Buyers included foreign central banks buying through investor groups.
The point is, cheap money is available for purchase and refinance. Call me, and let's talk.
I'm Mike in Tucson, your preferred Tucson, AZ Mortgage lender.
Think of me as your Tucson mortgage expert. I only loan in Arizona.
Call me if I can help you with a purchase or refi mortgage;
(520) 349-9090
Mike,
Isn't it about time we hear some 'good news' on the economic front...!!! Thanks, Fran
Fran,
It really is some good news. The market was actually up about 240 points at the end of the day, and rates are down again! Thanks for being the first to comment.
Mike in Tucson
Hi Mike, I'm more interested in website stuff these days. Pretty boring writing about RE for me right now. This too shall pass.
Mike - Having sunny days, and 3 days of improvement on the Dow, is enough to buoy spirits, that's for certain! Citibank seems to be healing, and things at GM apparently aren't quite as dire.
Mike,
Why was this not a featured post? Urgh... Good news and it doesn't make it to the front page of AR. "Waiter, please, I'd like to complain..."
I'm flagging! And, re-blogging!!!
Maryellen
Good news. Thanks for coming back on Surprise!
Ann,
You're welcome! It's good to see you.
Maryellen,
Thanks for the encouragement and the ReBlog!
Myrl,
I took two new applications today. I'm smiling in sunshine!
Susie,
Thanks for stopping by; I hope you're continuing to do well.
Mike in Tucson
Mike, I just "reblogged" you to my other blog: http://blog.bestflagstaffhomes.com/public/item/228561
Mike,
Thanks for the easy to understand explanation..Good news!!!
Dorie,
You're welcome. I wish you much success today. Right now. This weekend.
Ann,
Thanks for ReBlogging! You're the best!
Mike in Tucson
Mike, Encouraging indicators, just like Spring, are coming out of hiding, if you allow yourself to look for them. Thanks for sharing. What a great way to bring in the week-end.
Hi Mike: We are starting to see a good spring market here too!
:)
Matt,
I'm glad to hear it! Thanks for commenting.
Kate,
That's funny about the change. So you remember what that rotary dial payphone looked like!
Mike in Tucson
Mike - This is great news. And I, too, remember calling in on these phones, as well as my first cell phone that I carted around in a 6"x12" case that weighed a TON.
Karen,
My first car phone had a unit in the trunk, and it was hardwired. Look at us, trading "old" stories! LOL
Mike in Tucson