April 11th, 2009 12:13 AM


Dear Friends,

On our last TeamBlog I mentioned this might be the best time to purchase a home as many properties are now affordable. Now is also a great time to refinance as rates are lower than ever!

In reviewing mortgage rates on a 30 year fixed loan, MoneyTeam is offering a rate as low as 4.375%. On a 15 year loan, rates are as low as 4.250%. While there are points to be paid, this might make financial sense if your current rate is at least 1% or higher. You can recoup the cost of the points in 1 or up to 5 years depending on the current balance of your loan, the rate offered and your plans on staying in the property for the long haul. If you are contemplating on selling your home in a few years, you might decide it would be best to pay a higher rate with no points. A point is 1% of the loan amount. For a loan of $300,000, that would amount to $3000.

There are also tax savings, as you are able to deduct the points and fees you paid in a refinance or a purchase. It is my understanding you are able to deduct these fees over a 15 or 30 year period. If you sell your home, you can take the full deduction and there's no need to wait until the end of your mortgage to do so. Please consult your accountant or tax attorney for more details.

In regards to where mortgage rates are headed, we need to look at the variables which can play havoc in determining the general direction.

During the past several days, there has been a modicum of cautiously encouraging financial news. Wells Fargo Bank mentioned a surprisingly upbeat profit forecast of over $3 Billion for the 1st Quarter of this year. Any good economic news or the perception of its arrival, will always trigger a response by bond holders. The gyrations of the bond market, specifically the 10 Year Treasury Bill, generates the yields which in turn decides the fortunes of mortgage rates. The Wells Fargo announcement, while encouraging, raised mortgage interest rates by an eighth of a percent on 30 and 15 year fixed rate loans early Thursday morning. Later in the afternoon, rates went down by an eighth. It just goes to show you how predicting the movement of interest rates can be construed as a game of chance. However, it's a smart thing to view the DAILY RATE LOCK ADVISORY on our website for more information and guidance. 

Inflation figures, unemployment rates, foreign crisis, oil prices, reactions of global markets and speeches delivered by US government officials are just a few of the numerous variables in forecasting. Due to the daily volatility of the US economy, mortgage rates as a whole will continue to fluctuate.

Blog Fee Sale

If you are reading this Blog you just saved  $715! We are eager to cut your costs on your home loan!

If you decide to purchase or refinance a property for a loan amount over $175,000, MoneyTeam will rebate the cost of your appraisal up to $350. We will not charge you a processing fee of $350 nor will we charge you our credit report fee of $15. You can save all this money by just mentioning that you've read our TeamBlog! This offer is good until the 30th of April. Take us up on our offer, you'll be glad you did! 

Additional Loan Programs To Begin Wednesday, April 15th

MoneyTeam is now offering STATED INCOME loans. If you have credit scores over 680 we can help you. If you're a wage earner or a self employed  borrower and have good cash reserves, we are now able to offer this loan product. Please check our website for more details and guidelines.

MoneyTeam is now offering SUPER JUMBO financing up to $10 Million. Mortgage rates for these high end loans are now much more affordable. Please check our website for more details and guidelines on our newest product. 

In the days and weeks to come, MoneyTeam will be offering additional loan products we believe can fill a void. Please check our website periodically for additional information.

Tea Party

Please check our next Blog in regards to the "Tea Parties" being held on Wednesday, April 15th throughout the country. We encourage all concerned citizens seeking relief from the avalanche of taxes from all directions, to participate in defiance of the idiot lawmakers from Washington to your local mayors office, eager to 'solve' all economic problems by placing unprecedented tax burdens on YOU!

"Taxation Without Representation" is the cry of concerned Americans exhausted and frustrated with incompetent and inept officials from city, state and federal governments. These bureaucrats are hellbent on destroying our personal sovereignty by taxing its citizens to pay for blunders they've created and pursuing deceptive measures in placating the general public.

Here in California, the newest script and the cast of characters are in place to be nominated for 'best actor' and 'best supporting actors' to win an Academy Award for buffoonery in their attempts to extol the virtues of deception on the electorate by offering ballot measures designed to alleviate the additional pain of tax increases.

Our acting Governor with the 'supporting' cast of legislators in Sacramento are pushing for the passage of convoluted ballot measures purporting to end the budget short falls of previous years. In reading the fine print, we are now have been made aware, these measures are to prolong the desire of the State to continue collecting taxes for another 2 years for a grand total of an additional $16 Billion.

On our next Blog, I will discuss the harm and the abuse of power which has created a meltdown of confidence, a +10% unemployment rate and the flight of Californians to other states and municipalities for economic survival.

Passover & Easter

We wish you, your family and friends a wonderfully blessed Passover & a Happy Easter!

Thanks Again


Posted in:General
Posted by Jesse Dorado on April 11th, 2009 12:13 AMPost a Comment

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