Mortgage Business

Taxes, Hootie, and the Mortgage Markets

Although it looks to be a great weekend weather wise – happy to see that – don’t forget that your tax returns are due on Monday by midnight.  Think a kind thought for our CPA and tax preparer friends and, if you haven’t completed your taxes yet, you’d better get moving J  My tax preparer tells me he’s got my return under control so I’m playing in a golf tournament this morning and tomorrow morning.  Every year at this time we stage “The Hootie” at Cripple Creek Golf and Country Club.  The Hootie is a 36 home tournament named in honor of Hootie Johnson who was a long-time Chairman of the Augusta National Golf Club which holds the Masters Tournament each year.  It’s our first “major” of the year and I’m looking forward to a fun weekend with a great bunch of folks.

Earlier this week, I emailed many of you an article from Forbes which very accurately described how the mortgage process today is more about making sure a loan does not have to be bought back from the investor rather than making sure the customer is well served.  While it’s my goal to do both, it’s something I struggle with every day.  I also think it’s a great article to us to prepare your clients for the mortgage process when they decide to finance a home purchase.  Here is the link again in case you missed it:   “The Perfect Mortgage Application”

Appraisals continue to be a worry and we are still seeing some appraisals come in low compared to the agreed upon sales price.  Many times the seller has not been properly prepared.  Even in times when real estate was booming, when homes were selling like hotcakes, the property appraisal was one of the major hurdles for sellers, buyers and lenders.  Here is how to get your sellers prepared – How to Get Your Sellers Prepared

I also posted five (5) rules to remember in life on my blog a while ago and thought it work repeating.  They were sent to me by another loan officer that I respect tremendously – here they are:  Five Rules

Mortgage bond prices finished the week slightly higher helping mortgage interest rates improve.  Rates were considerably better Monday morning tied to stock weakness.  Spain debt worries reignited some flight to quality buying of US debt instruments and helped rates extend the improvements Tuesday morning.  Unfortunately those improvements were wiped away Wednesday as stocks rebounded and news out of Italy and Spain eased default concerns.  Higher than expected core producer inflation readings were offset by higher than expected weekly jobless claims which kept rates relatively in check Thursday.  Mortgage interest rates finished the week better by about 1/8 of a discount point.

Here’s the link to my rate sheet online if you are a real estate professional:  <a href="http://www.box.com/s/hypfnpup1ruq5069qkn6&quot; title="http://www.box.net/shared/bxjyydagau&#010;http://www.box.net/shared/uks538ajcm“>Baxter Rate Sheet

 

Have a great weekend and never hesitate to contact me if you need something – hit the cell, send an email, pop a text, or contact me on Twitter or Facebook.  And, if you need to get a buyer pre-approved?  Just send them to my secure online application – Baxter Online Mortgage Application – Click on “Start Your Application

And here’s an easy way to introduce me to clients when you make a referral.  Send them to my About.Me Profile:  Click Here

 

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