MORTGAGE BLOG!

Well this about says it all! Whether you agree with the Government bailout or not, it is a fact of life. For this bailout to work the housing market must improve. The theory is that the bailout will loosen credit and put more money back into the economy so we can go back to buying homes and goods on credit like we Americans are used to! Sort of ironic how our economy comes to virtually a complete halt without the privileges of credit.

Again, you may agree or disagree with the good ole' American way of acquiring the things we want, but love it or hate it, it is the way things are. In the best case scenario, this bailout will restore consumer confidence, reinstate much of the buying power americans have lost in the last year, therefore beginning a process of financial recovery for out nation!

How can you help? Buy a home or refinance the one you have! :) Call me.

The medium home prices for the US housing market fell to $218,400 in September! The lowest in four years. So in essence we can roll the clock back to 2004 home prices. Some would say 2003 prices! The influx of more affordable homes on the market has given us our first increase in Real Estate sales in over a 1.5 years! Housing sales up 5.5% in September.

This data likely indicates a bottoming of home prices. We may be on our way for an eventual rebound in the US housing market, which is the root of the global, financial turmoil we are in. So stay optimistic! The good ole' fashioned laws of supply and demand are at work to correct the market and get our economy growing at a healthy pace.

Give Pinellas Financial a call at 727-667-6792 for a check on current interest rates! Don’t be misled, there is plenty of mortgage money available for you to be able to take advantage of our current, affordable housing market!

Despite the media claims, there is still plenty of liquidity in the market for Mortgages. There is no "credit freeze" on mortgage money! In addition to conventional loans, many loans are now going through the Federal Housing Administration (FHA) insurance program. The down payment for an FHA loan is currently 3% (will go to 3.5% on Jan. 1, 09). With loan limits in Pinellas County at $292,500.00 and rates at or below conventional rates, what are you waiting for? Today's FHA rate on a 30-year fixed; 6%!

So don't believe everything you hear. We offer FHA, conventional, foreign national programs, Jumbo financing and work with short sale scenario's. With housing prices at 2003 levels, now is the best time to grab a deal!