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How Recent Market Changes Can Affect You

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As the Real Estate and financial markets continue to move up and down, mortgage rates can also be affected. Since mortgage rates are more closely tied to the bond markets, an up or down move in the stock market may not have the result in mortgage rates that one might expects. In fact, many times the resulting mortgage rate changes are counter-intuitive.

More importantly, rates change daily and they can change quickly. Some mortgage professionals have recently noted that their rate quotes have only had shelf lives of three to four hours before market changes have deemed them inaccurate.

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How does a consumer navigate fast changing markets in order to refinance their existing loan or purchase a home with the most favorable terms possible?

  1. Plan – Define your needs ahead of time, do not wait until the last minute. This is especially true of home purchases.
  2. Consult – Talk to your mortgage professional on a regular basis so they can interpret recent market events to you and communicate how those events can affect you.
  3. Execute – When you have defined your needs and have determined that now is the best time to move forward, don’t shop yourself out of a good loan! What does this mean? It is easy to get caught up in shopping for the best rate, but it is not uncommon for home owners to miss locking their loan at a great rate because they are in search of better rates that do not exist or that they do not qualify for. It is important to shop to insure you are getting the best rate possible, but set limits to the number of companies you are going to consider doing business with and be careful of having your credit report needlessly and more times than is necessary!

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Related Information:
  1. Introducing New Refinancing Solutions
  2. Learn About Making Home Affordable
  3. Making Home Affordable Refinance Programs Have Been Extended
  4. Mortgage Fees may go up in 2012!
  5. Mortgage Morning Outlook

Real Estate Financial has written 13 articles on Real Estate Financial – Get a fast qoute

Our goal is to offer the best refinance rates and lowest mortgage payments in minutes. We will beat virtually any mortgage rate quote and our wide selection of loan products are sure to provide the perfect mortgage solution for all of your Real Estate Finance needs. We specialize in home purchase, home refinance, second mortgage, and home equity loans. Our mission is to serve our customers with honesty, integrity and competence. Our goal is to provide home loans to our clients while providing them with the lowest interest rates and closing costs possible. We know that you have specific needs and we strive to meet those needs with a wide array of refinance and purchase products and most importantly, quality service and individual attention. All we need is a few minutes to determine how we can save you money and improve your current mortgage rate, payment, and financial well-being. Please call us or submit an online application and a representative will be happy to help you.

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