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Let MCB Mortgage Help you or your company with all your mortgage needs.MCB Mortgage, Inc. specializes in Secondary Marketing & Managed Broker Programs for Banks and Credit Unions.


Friday, June 02, 2006

Rates are back down but for how long?

Rates have dropped today because of some indicators showing the economy slowing down. Investors feel that may give the Feds some thought about not raising rates again when they meet at the end of June. Some brokers may not lower their rates until Monday or late this afternoon. Make sure you have your broker update his pricing! It is your payment for a long time. This is no doubt just a short lived drop in rates so enjoy it.

Thursday, June 01, 2006

No free rides but great deals are out there

When you are getting a mortgage there is no such animal as a NO COST loan. You will pay for it in one way or another. They will raise your rate to cover the fees and closing costs and you will pay much more in the long run. If you are planning to move in a short period of time than it may not be a bad idea. If you are planning on living in the house for period of time (appx 3 years +++) than think about a rate without points and pay the closing costs. The average life of a loan is about 7 years and most people move on after that. Save for your downpayment and work on your credit.We love the program at Emigrant Direct. It pays 4.65% and moves up as rates go up. You can cut corners and go on a budget and make it happen. Have you been working on those credit scores? If you are working on your credit you need to stay on top of it by checking it at My Fico.Com or Equifax. Put 5% down and have good credit and shop for the right price on the right home and you will be smiling every time you walk in the front door of your new piggy bank.

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