Market Analysis

Despite a Consumer Price Index that was weaker than expected and news that housing starts and building permits declined significantly in March, the stock market still rallied and the bond market deteriorated based on better than expected quarterly earnings reports from JP Morgan Chase, Intel and Coca Cola.   Additionally, after hours, IBM reported stronger than expected earnings.  Please note that if you lock with Iron Harbor and the market improves dramatically, we are able to renegotiate once and get within .375 points in closing costs of current market.  For example if the market improves to 5.75% with 0 points, we can renegotiate once to 5.75% with .375 points.  It is important to note that even though when renegotiating there is a .375 point adjustment to closing costs, usually we renegotiate rates to a rate sheet that is very short-lived and, therefore, most of our borrowers get a better rate renegotiating than if they were just trying to call in and get their loan registered and locked to start with.   If you think you may want to use Iron Harbor, we recommend having your loan set up and ready to go with us so that we can get your loan locked asap once you decide to use us.  The first step with Iron Harbor is to be pre-approved.  You can access a short application form at http://www.ironharbormortgage.com/xSites/Mortgage/IronHarbor/Content/UploadedFiles/Iron%20Harbor%20Short%20Application.pdf
Posted by Matthew Breston on April 16th, 2008 7:19 PMPost a Comment (0)
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