I would like to offer my accolades to Peter Kazaks for excellent customer service throughout the entire process of my new home purchase.
As a first-time buyer, I knew nothing about the home closing routine. Peter demonstrated patience and understanding from beginning to end. He assured me that no question was a stupid one, and Peter was thorough in explaining processes and procedures. For many, legal and economic issues as it relates to the home-closing process can be confusing, and Peter conveyed this information in a manner that was easy to comprehend.
In sum, Peter was confident in his skills, he instilled confidence in me as a buyer, and he made the closing process seamless and comfortable. Peter clearly has a mastery of both the mortgage industry and people skills, and I would gladly recommend him to anyone seeking a mortgage lender.
Thank you,
Lindsey Kriete
Wednesday, July 26, 2006
Friday, July 21, 2006
The Economy In Brief: Strong Bond Market is Good for Mortgage Rates
Bonds have enjoyed a nice recovery over the past two days and are modestly higher so far today. Friendly commentary from Fed Chairman Ben Bernanke has been the primary driver of the recent rally. Mr. Bernanke sparked the rally on Wednesday when he told Congress the economy seems to be moderating and inflation remains contained, and continued with similar comments in yesterday's testimony.
Further backing up Bernanke was yesterday afternoon’s weak Philly Fed Manufacturing Index, supplying further evidence the economy is indeed slowing down. In fact, as a result of the weakness shown in the latest economic data...combined with Big Ben's comments over the past few days...the Fed Funds Futures are now predicting only a 33% chance for another 25bp rate hike at the August 8 Fed meeting – down from about a 90% chance just a couple of days ago.
Bonds are also getting a boost on safe-haven buying due to the escalating fighting between Israel and Hezbollah. In recent months, traders haven't purchased Bonds on a flight to quality, but the continuing conflict between Israel and Hezbollah is bringing concerns that countries like Iran and Syria may get involved, which would further escalate the conflict and possibly interrupt oil supply. For the time being, oil prices are off their recent highs, which has helped to soften inflationary pressure and support Bonds at current levels.
Further backing up Bernanke was yesterday afternoon’s weak Philly Fed Manufacturing Index, supplying further evidence the economy is indeed slowing down. In fact, as a result of the weakness shown in the latest economic data...combined with Big Ben's comments over the past few days...the Fed Funds Futures are now predicting only a 33% chance for another 25bp rate hike at the August 8 Fed meeting – down from about a 90% chance just a couple of days ago.
Bonds are also getting a boost on safe-haven buying due to the escalating fighting between Israel and Hezbollah. In recent months, traders haven't purchased Bonds on a flight to quality, but the continuing conflict between Israel and Hezbollah is bringing concerns that countries like Iran and Syria may get involved, which would further escalate the conflict and possibly interrupt oil supply. For the time being, oil prices are off their recent highs, which has helped to soften inflationary pressure and support Bonds at current levels.
Tuesday, July 11, 2006
Millionares In The Making
Financial awareness is crucial to building an adequate nest egg. While most blog readers are probably thinking about not only a home but their financial future, I have posted in the past about the negative savings rate in the U.S. That being said, we can all use some inspiration from time to time to keep us on track and making responsible financial choices. One source of inspiration I keep an eye on is the "Millionares In The Making" feature on CNN.com. I suggest regularly checking the site linked HERE and also bookmarked on the right side of this blog so you can read what others have done to ensure their long term financial stability. Make no mistake about it--real estate is a consistent theme with the people featured as Millionaires In The Making!
Monday, July 10, 2006
5 Ways to Kill Your Credit
I talk about responsible use of credit in my home buying seminars, I counsel clients about it in one on one meetings. A solid credit profile can save you hundreds of dollars every month when it comes to financing a home. Is it really worth saving $5 to open that new retail credit account? Probably not...
CNN.com has posted one of the better articles I've seen on "what not to do" when it comes to credit. I suggest you take a few minutes to read it by clicking here.
CNN.com has posted one of the better articles I've seen on "what not to do" when it comes to credit. I suggest you take a few minutes to read it by clicking here.
Wednesday, July 05, 2006
Action in the Market
The bond market is not doing well today due to events of the last few days. From today's MMG:
A few big headlines are bringing the action back in a hurry after the long holiday weekend. First, North Korea test fired six missiles over the Independence Day Holiday, one of which was long-range and capable of reaching Hawaii or Alaska. Japan and other surrounding countries, as well as the US, are protesting the actions of North Korea, and are threatening economic sanctions against the rogue nation. Normally this type of geopolitical news would create a “flight to quality” and help Bond prices improve, as they are viewed as a safe haven, but another headline has forced Bond prices lower this morning.
A payroll survey released by the world’s largest paycheck processor, Automatic Data Processing, Inc. (ADP), showed an increase of 368,000 new jobs, the largest monthly increase in employment since the ADP Index was created five years ago. While their numbers are not always accurate, this sure provides some evidence that Friday’s Jobs Report may come in much hotter than expected. The current expectation has been for about 160,000 new jobs created during June, and remember that last month’s Job Report showed a fairly wimpy number of 75,000 new job creations during May. We had expected a stronger number last month, so seeing a hot number this month – along with a potential upward revision of last month’s number – wouldn’t come as a surprise, especially given the ADP findings this morning.
A few big headlines are bringing the action back in a hurry after the long holiday weekend. First, North Korea test fired six missiles over the Independence Day Holiday, one of which was long-range and capable of reaching Hawaii or Alaska. Japan and other surrounding countries, as well as the US, are protesting the actions of North Korea, and are threatening economic sanctions against the rogue nation. Normally this type of geopolitical news would create a “flight to quality” and help Bond prices improve, as they are viewed as a safe haven, but another headline has forced Bond prices lower this morning.
A payroll survey released by the world’s largest paycheck processor, Automatic Data Processing, Inc. (ADP), showed an increase of 368,000 new jobs, the largest monthly increase in employment since the ADP Index was created five years ago. While their numbers are not always accurate, this sure provides some evidence that Friday’s Jobs Report may come in much hotter than expected. The current expectation has been for about 160,000 new jobs created during June, and remember that last month’s Job Report showed a fairly wimpy number of 75,000 new job creations during May. We had expected a stronger number last month, so seeing a hot number this month – along with a potential upward revision of last month’s number – wouldn’t come as a surprise, especially given the ADP findings this morning.
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