Mortgage Monday

"It's just another Mortgage Monday."
Another week starting off on a positive note!

• Consumer & business spending rises ~ recovery is gaining steam.
• Interest rates have fallen for the 4th straight week.
  
• 30 year fixed rate slipped to 4.63%
• 15 year fixed rate dropped to 3.82%
• Remember rates do not include add on fees referred to as "points."  
• 1 point = 1% of the total loan amount
• The average fee for 30 & 15 year fixed loans is .7 point.
  

FAQ:
In today's real estate market where cash buyers are King, how can a
financing buyer improve their chances of getting an offer accepted?
Answer:

1. Get a pre-approval letter from a lender and submit it with an offer.
2. Put a strong amount of cash down, keep your credit good.
3. Put a strong amount of cash deposit down to strengthen the offer.
   

Cash offers may win out in short sale or foreclosure sales.  Lenders are looking to get these properties off their books.  However, a traditional seller may be less motivated by cash and more inclined to take the highest offer presented.

It continues to be a good time to invest in real estate.  Call "Pine Island Pam" today to start the buying process.  Isn't it time you start living the island lifestyle?  SW Florida is calling you to check out our Greater Pine Island communities of Bokeelia, Pineland, Pine Island Center, St James City and Matlacha.

Contact me at (239) 699-6567 or Pam@PineIslandPam.com.  Visit my website at www.PineIslandPam.com.
Posted via OnFast - http://www.OnFast.com