Who Is This Seattle Mortgage Smarty Pants And His Dog?

This has happened like clockwork coming into the holiday season the last 3 years.

It can be costly to you and possibly kill your loan if you don’t prepare for it properly.

If you live in Seattle Area and you need free advice in this matter, give me a call at 425-264-7007

Hugs AND Kisses, Nick Krehnke he he

This is what I tell clients who don’t realize this could be gone by the end of the month!

Every year for the past 3 years mortgage rates have risen in Oct due to Fed/Gov interference (STIMULUS). History doesn’t lie….look at this chart below:

What the general public doesn’t realize that us in the lending industry (who pay attention) have already been aware of for months is that based on the current spreads between the index and the margins on the corresponding bond yields (3,5,7,10 and 30) that investors buy packaged as residential mortgage loans they should already be lending at rates up to 1% less than what they are now (or at the “new lows”) and it is because no one wants to invest in a poorly returning 2.5% mortgage loan for the next ten years, let alone 30! There is a psychological floor that has been set and it’s going to take the end of the world as we know it for anyone to consider taking any less of a return on mortgage lending investments.

Mortgage rates aren’t going to get any lower than what we have seen already as new lows in fact they will probably rise and settle for the near future in the mid to low 4′s (which is still historically phenomenal) The “bond market investor’s” mentality is such that odds are very much against anything other than that. Whatever benefit you can obtain from the low end of the bond market that we are currently in I would suggest you strongly consider quickly as in most cases it costs ZERO to refinance and better you or your clients picture financially so you have nothing to lose and everything to gain.

Unfortunately all its going to take is for the fed to heat up the printing presses as they always to pre holidays to get the stock market going for these rates to raise .50 to as much a 1.0% overnight and stay there through spring. It has happened for the past 3 straight years, rates at all-time lows in October and then STIMULUS!!! QE 3 is on its way and it’s going to suck for rates (and for me).

Look at the bond market chart, the fed doesn’t want to see a stock market back Friday on shopping black Friday!

They will sell out our dollar and our futures once more just to benefit the stock market again through year end, just you watch!

If you want custom taylored advice and solutions FOR YOU to take advanatge of the current market please pick up your phone and call me now at 425-264-7007 or email me at WackyWireless@Gmail.com. Warmest Regards, Nick Krehnke

Has Your 401K Lost Money Like This In The Last Month?……

If so, I have good news! (seriously)

Well the good thing is Mortgage Rates have done the same, so what you might have lost

on your 401k, you can save on your home loan if you call me.

206-497-8605 Warmest Regards, Nick Krehnke

Has your Seattle Home Loan Officer NOT contacted you prior to last Thursday, August 4th?

If not, they really don’t care enough…work hard enough….. or are organized enough to have YOUR best interests at heart.

They are burning YOUR money!!

On that day I posted a short and simple blog post letting people I didn’t even know what was going on. Here is a link to it:   

 Seattle Mortgage Rates Plummet to 3.75% and….(click here for complete article)

I stepped out of the office for a couple minutes to get a coffee refill,  and when I got back, I saw I had a couple of new voice mails. It was people who called off my blog post… within 2 minutes of me posting it! I’m not Wall Street Journal or Yahoo News,  just some dude who once in a while posts something to his free blogs because he is too cheap to buy web hosting When I called them back they said no one had called them about this. Now the market had been crazy 2 weeks PRIOR to this, yet no one had called them????

Hmmmmm…..

So this got me thinking, and I decided to call a few friends, who had NOT done a loan with me in the past, to let them know what is up. You can imagine my surprise when ALL of them said NO ONE had called them about this! This got me thinking even more… about the hard times that people are going through financially, the foreclosures, the job losses and how critically important it is to not waste a single penny of your money. Yet, here we are, with better rates then the last 3 “once-in-a-lifetime” rate lows, yet know one is calling them.

My job is this… to be organized enough…… to work hard enough….. and most importantly, TO CARE ENOUGH ABOUT YOU to call you when these chances to save YOU money are here. My job is not to sit on my ass and wait for my phone to ring and charge you thousands of dollars in closing costs!
Ah… closing costs….. here is what I think of closing costs:  

Closing Costs are for the Birds! (Click here for complete article)

But that is another rant for another day

If you would like to see how I can SAVE YOU money RIGHT NOW and not charge you a single penny to do so, call me directly at 206-497-8605.

                                                              Warmest Regards,  Nick Krehnke

WOW!…Seattle Mortgage Rates Plummet..30 year fixed is 3.75% Today!…WOW!

As the banks open and the wholesale rate sheet are coming into my inbox, I am just So excited! 
30 year fixed is now back under 4%!
One lender is at 3.75% par pricing!
They are still coming in…you know..’banker’s hours’ , but I like how the days is starting.

Benefit to Current Seattle Home Owners
This is a great chance for current homeowners to lower their rate with a refinance.
A lot of people think they can’t qualify for a refinance because of the value drops have left many homeowners owing more on their house than it’s worth.
But if you have a VA or FHA loan, you could be in luck.
The FHA Streamline Refinance and the VA IRRL Loans do not require an appraisal!
By the way, IRRL stands for Interest Rate Reduction Loan.
Another nice thing is, by law, we cannot add closing costs on this loan, so you don’t have to do that Break Even On Closing Costs Calculation in your head.
$0 fees and a lower rate, it really is just that simple

Benefit to Seattle Home Buyers
 This makes nicer, higher priced homes affordable to you, or makes the one you were already looking at that much lower of a payment. It is much easier for me as a lender to contribute more towards you closing costs, but still keep your rate and payment low.

Benefit to Seattle Home Sellers
It increases the pool of buyers that can qualify for your home. Lower payments at the same loan amounts do this. If you are trying to do a short sale, the less of a price drop you are requesting, the greater the chance of it getting approved.

In conclusion…
I would talk about it more, maybe post a cool video or a cute picture of my dog, but I got to DO LOANS! Call me if you have any questions at 206-497-8605

p.s.-we have gotten a mid-day reprice for the better with some lenders already…at 9 am!  

Obama’s HOPE For Homeowner’s Program (H4H) is Going Bye Bye

All of the fence sitter out there may want to see fi they qualify for this program, because if you don’t have FHA case number by July 29, 2011, you are out of luck.

Below is the Mortgagee Letter Directly from HUD.

If you have any questions on this, call me directly at 206-497-8605.

Warmest Regards, Nick Krehnke

Termination_of_the_HOPE_for_Hownowners_(H4H)_Program.pdf Download this file