Tuesday, August 9, 2011

The Latest Mortgage Information after this S&P downgrade.

The Latest Mortgage Information after this S&P downgrade, What does this mean to the current Real Estate market? I asked my friend and mortgage guru  Jeffrey Arnstein Branch Manager of VanDyk Mortgage Corporation located in Tempe, Arizona this question and here is what he had to say.

"After much speculation that the interest rates for mortgages and other consumer debt would sharply rise as a result of the recent S&P downgrade, it now appears that this will not be the case.  Despite the S&P downgrade, most investors still think that the creditworthiness of the United States is beyond question or doubt.  And as long as US debt instruments like Treasury Bills are in demand, and appear to generate a better return than most equities (stocks) which they are, the rates will remain low.  That’s good news in the short run for mortgage interest rates.  These all time record low interest rates, combined with all time lows in home prices; not only in metro Phoenix, but all over the country means housing has never been more affordable.  But as sure as I’m writing this, the rates will eventually rise, so take advantage of this “perfect storm” of price and rate now before this window closes.  Now is the time to contact your realtor to start the home buying process.  You will never get a better deal than you will right now."

And when you do find a home, we have a wide selection of mortgage products to suit your needs from FHA, VA, to conventional.  Many of these mortgage products involve little, if nothing down, and your realtor can generally negotiate a substantial contribution from the seller to cover most if not all of the closing costs.
For Mortgage Questions or needs contact Jeff Armstein or Real Estate Questions or Needs contact Joseph D'Ambrosio at the number below,

"Opening The Door To Opportunity and Your Future Home..."
Jeffrey Arnstein                        Joseph D'Ambrosio
Branch Manager                                  Executive Sales Associate
VanDyk Mortgage Corporation            Keller Williams Northeast Reality
3923 S McClintock DR Suite 408        21410 N. 19th Ave #131
Tempe, AZ 85282                                Phoenix, AZ, 85027
NMLS # 157746                                   Cell: 623-810-4824
AZ LO ID # 912005                             Email: joseph.dambrosio@kw.com
BKBR 0115143                                   Website: www.Arizona-HomeBuying.com
(480) 621-4542                                    Website: www.Arizona-HomeBuying.kwrealty.com

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