TucsonMortgages.com WIN $100 CONTEST!

On January 13, 2010, in Tyler Ford & Todd Abelson, Videos / YouTube, by Todd Abelson | Comments

So you want to win $100? GREAT!!!

Welcome to TucsonMortgages.com and TucsonMortgageBlog.com!

It’s easy to do, and there’s NO purchase required! All you have to do is complete the following items, and your name will be placed into the drawing, scheduled for Friday, Feb 26, 2010 which we will film and post on our blog.

To have a chance at winning $100 BUCKS please follow the steps below:

First, you must Comment on THIS blog post and then complete 2 of the following 3 items:

1. Subscribe to our RSS feed on this blog site

2. Subscribe to our Newsletter either on this blog or TucsonMortgages.com

3. Follow us on Twitter or become our friend on Facebook

In your Comment post, make sure to include your name and reference your Twitter -or- Facebook name (if applicable), or other direct contact information so we can get in touch with you.

The winner to be drawn randomly from the Comment post list on Friday, February 26, 2010.

If you’re in Arizona, we’ll meet with you, capture a brief presentation video and post the interview on this blogsite. Only one entry per person; employees of Sunstreet Mortgage or their families are not eligible – sorry!

While here, check out our “Categories” (on the right) and catch up on what you’re missing.

Don’t forget to check out our website and stay up-to-date on what’s going on in the Mortgage world with Todd Abelson and Tyler Ford, Sunstreet Mortgage, Tucson, Arizona.

Thanks for playing and GOOD LUCK!!!

Tucson Mortgage Weekly 2-8-10

On February 8, 2010, in Market News, by Todd Abelson | Comments

Brought to you by Todd Abelson and Tyler Ford of Sunstreet Mortgage – Tucson, AZ


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Click here to view the Tucson Mortgage weekly newsletter.

Another Happy Tucson Home owner – Carolyn Hall

On February 8, 2010, in Testimonials / Happy Home Owners, by Todd Abelson | Comments

Carolyn Hall is a HAPPY NEW HOME OWNER!!! Call Todd Abelson and Tyler Ford at Sunstreet Mortgage in Tucson, Arizona for all your mortgage needs! 520-331-LEND

What’s Ahead For Mortgage Rates This Week : February 8, 2010

On February 8, 2010, in Interest Rates, by admin | Comments

Non-Farm Payrolls Net New Jobs Feb 2008-Jan 2010Mortgage markets improved last week on domestic jobs data and international banking concerns. The news triggered buying in the bond market and, as a result, conventional, FHA and VA mortgage rates in Arizona improved for the 4th consecutive week.

Mortgage rates are now at a 6-week low but probably shouldn’t be.  It underscores just how important global events can be to U.S. mortgage markets.

For example, corporate earnings continue to improve and key elements of the economy are strengthening.  Even the Federal Reserve acknowledges this.  In most circumstances, that would be a boon for the stock markets and bond markets would suffer, including mortgage bonds.

Last week, that wasn’t the case.

Early in the week, as (1) China tightened its monetary policy, (2) Greece did little to quell lingering default fears, and (3) Spain raised its deficit forecasts, global investors sought to reduce their collective risk exposure. For safety of principal, many sold some of their more aggressive positions and moved the cash proceeds into the U.S. bond market — which includes mortgage bonds.

On Wall Street, this type of trading pattern is called a “flight-to-quality”.  Because mortgage bonds are backed by U.S. government entities, the debt is considered to be ultra-safe.  Last week’s extra demand for bonds helped to push prices up and mortgage rates down.

And that was before Friday’s weak jobs report. Although the Unemployment Rate fell to 9.7%, the government reported a net loss of 98,000 jobs last month and this, too, helped mortgage rates tick lower.

This week, we’ll hope for momentum to continue.

There’s very little domestic news to move rates this week so keep an eye on the global market for similar stories like what we saw last week.  Or, if you’re not sure what to look for, just give me a call or send me an email and I’ll be happy to watch the markets and mortgage rates for you.Post

7 Ways To Protect Your Credit Score For Better Mortgage Rates

On February 5, 2010, in Uncategorized, by admin | Comments

As mortgage lenders tighten approval standards   in Arizona and nationwide, the importance of a good credit score is rising.  Credit scores not only make the difference between a mortgage approval and mortgage turn-down, but they also play a large role in determining your actual mortgage note rate.

In the 3-minute piece, the NBC Today Show talks about 7 ways that homebuyers ruin their credit — often by accident.  Some of the highlighted mistakes include:

  • Closing open credit cards
  • Making appliance buys on credit prior to closing
  • Asking creditors to lower credit balances prior to closing

In general, a 740 FICO will insulate a borrower from the higher costs and/or rates associated with low credit scores.  Below 740, though, every 20 points adds to the damage.  Watch the video and apply what you can to your own situation.  The more you know, the more you can save.

The January 2010 Jobs Report May Lead Mortgage Rates And Home Prices Higher

On February 4, 2010, in Interest Rates, Real Estate Information, by admin | Comments

Unemployment Rate 2007-2009On the first Friday of every month, the U.S. government releases its Non-Farm Payrolls data from the month prior. The data is more commonly known as “the jobs report” and it swings a big stick on Wall Street.

Especially now — many analysts believe job growth is tightly linked to the future of the U.S. economy.

Therefore, when January’s jobs report hits the wires at 8:45 AM ET tomorrow, Tucson home buyers would do well to pay attention. A net job reading that is much higher (or lower) than Wall Street’s expectations can make a serious change in home affordability.

Wall Street expects that the economy added 13,000 jobs last month.  It would mark the second time in 3 months that the jobs report showed a net monthly gain.

In November 2008, the economy added 4,000.

Jobs matter to the economy for a lot of reasons, but one of the biggest is that when Americans are working, Americans are buying and consumer spending accounts for 70 percent of the economy.

Job growth spurs the economy and draws money to the stock market. Unfortunately for rate shoppers, that kind of stock market growth happens at the expense of the bond market which is where mortgage rates are made.

Good jobs data usually means higher mortgage rates.

Also, job growth can lead to higher home prices. This is because working homeowners are less likely to default on a mortgage versus non-working homeowners.  In this way, job growth helps hold foreclosures to a minimum which, in turn, suppresses the housing supply.

Less supply means higher prices for home buyers.

Mortgage rates are idling this morning in advance of tomorrow’s data.  If you’re shopping for a mortgage rate, the prudent play may be to lock your rate before the jobs data is released.  A jobs figure that’s higher than the 13,000 expected could cause rate to rise sharply.

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Recent Comments

  • Tyler Ford: Seems as through the real estate market is picking up and home prices are stabilizing.
  • Gail Richards: Thanks Todd! More Great Information! Thanks for being on top of everything…your the best! Gail
  • admin: Hey Todd, Can’t wait to pick a winner!
  • steve kargel: Thank you Todd for sending us your updates and especially for insights like the Eller annual economic...
  • Rick Arvielo: Thanks for the information

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