In love with my career
Is that how you feel? The housing industry is ever changing but it is still so rewarding in many ways.
I got a call from a client that was wanting to see about purchasing a home with a Realtor I work with and was told she needed to call and get preapproval for a mortgage. She told me that she really didn't think they would be able to at this time but a job transfer could be in the works for her husband and they really didn't want to go into an apartment. They have three small children and really wanted a yard for them to be able to play in.
I did the mortgage interview with her and told her that I would be able to finance them a new home. To her surprise I told her that we could use his VA elgibility which she didn't even realize we could do a 100% loan. She started weeping on the phone as she was so thrilled!! She stated she couldn't wait to call her husband.
This past week we closed her and her husband on there new home. The new home has plenty of space for the children, has been totally remodeled and the mortgage payment is cheaper then the rent they were paying. It was a win win for everyone involved, especially me as it reminded me again of why I love my career.
Let's all remember to treat our clients and business partners with the greatest respect we can. May the excitement of our work keep us all in love with our careers. It's a tough market out there, but together we will all help each other and have a great time doing it.
Tuesday, September 28, 2010
Saturday, September 18, 2010
Ready for cooler weahter
Ready for cooler weather
I am so ready for cooler weather! I run in a marathon training class at White Rock Lake in Dallas. This morning at 6am we started on our 13.3 mile run and the temperature was already 82 degrees and humid!
I know cooler weather is just ahead but I am impatient! The great State Fair of Texas starts this coming Friday! It seems we typically get a cool spell during the three week run of the fair.
I see mums and pumpkins at the stores and garden centers. That must be a sure sign that fall is just ahead. And haven't you all seen the Halloween costumes at the local retailers already.
And of course Friday night high school football has started. Most local high schools have already played for three weeks but before they get finished with the season cool weather will be upon us. Last year I went to a high school playoff game that was being played at SMU and the temperature was in the low 30's!
Summer, we enjoyed you but will be happy to pack you away until next year!! Fall, we anxiously await your arrival!!
I am so ready for cooler weather! I run in a marathon training class at White Rock Lake in Dallas. This morning at 6am we started on our 13.3 mile run and the temperature was already 82 degrees and humid!
I know cooler weather is just ahead but I am impatient! The great State Fair of Texas starts this coming Friday! It seems we typically get a cool spell during the three week run of the fair.
I see mums and pumpkins at the stores and garden centers. That must be a sure sign that fall is just ahead. And haven't you all seen the Halloween costumes at the local retailers already.
And of course Friday night high school football has started. Most local high schools have already played for three weeks but before they get finished with the season cool weather will be upon us. Last year I went to a high school playoff game that was being played at SMU and the temperature was in the low 30's!
Summer, we enjoyed you but will be happy to pack you away until next year!! Fall, we anxiously await your arrival!!
Friday, September 17, 2010
Carrollton Texas Zero Down Payment Program
Carrollton Texas Zero Down Payment Program
Now is the perfect time to take advantage of the Carrollton Texas Zero Down Payment Program, low interest rates and the current low sales prices of homes in Carrollton, Texas. If the only thing holding you or your clients back from purchasing a home is the down payment, then we have solved that for them.
Glenn Colley with WR Starkey Mortgage will walk you step by step to utilize this wonderful Carrollton Texas Zero Down Payment Program. You must be a first time homebuyer (cannot have owned a home within the past 3 years), purchase price must be below $145,000, income limitations apply and you must have a 620 or higher credit score.
The Carrollton Texas Zero Down Payment Program provides down payment and closing cost assistance to low to moderate income first time home buyers within the Denton County area of Carrollton. Assistance upto $15,000 is provided in the form of a 10 year forgivable loan at a 0% interest rate for down payment and non recurring closing costs associated with the purchase of a new home in Carrollton, Texas within Denton County.
If you have family or friends that you know that could take advantage of this great program then have them call The Glenn Colley Team today. If you need a Realtor to help you find the perfect home for you that qualifies for the Carrollton Texas Zero Down Payment Program we can help you with that too. Do not miss this rare opportunity.
I would love to help you experience the feeling of owning your own home. It is a wonderful feeling to know that you too can afford your American dream of being a homeowner. No more renting or living with family members when you take advantage of the Carrollton Texas Zero Down Payment Program.
Click here to apply for the CarrolltonTexasZeroDownPaymentProgram
Now is the perfect time to take advantage of the Carrollton Texas Zero Down Payment Program, low interest rates and the current low sales prices of homes in Carrollton, Texas. If the only thing holding you or your clients back from purchasing a home is the down payment, then we have solved that for them.
Glenn Colley with WR Starkey Mortgage will walk you step by step to utilize this wonderful Carrollton Texas Zero Down Payment Program. You must be a first time homebuyer (cannot have owned a home within the past 3 years), purchase price must be below $145,000, income limitations apply and you must have a 620 or higher credit score.
The Carrollton Texas Zero Down Payment Program provides down payment and closing cost assistance to low to moderate income first time home buyers within the Denton County area of Carrollton. Assistance upto $15,000 is provided in the form of a 10 year forgivable loan at a 0% interest rate for down payment and non recurring closing costs associated with the purchase of a new home in Carrollton, Texas within Denton County.
If you have family or friends that you know that could take advantage of this great program then have them call The Glenn Colley Team today. If you need a Realtor to help you find the perfect home for you that qualifies for the Carrollton Texas Zero Down Payment Program we can help you with that too. Do not miss this rare opportunity.
I would love to help you experience the feeling of owning your own home. It is a wonderful feeling to know that you too can afford your American dream of being a homeowner. No more renting or living with family members when you take advantage of the Carrollton Texas Zero Down Payment Program.
Click here to apply for the CarrolltonTexasZeroDownPaymentProgram
Wednesday, September 1, 2010
Mortgage Rate indicators for Dallas
Market Comment - Week of August 30th, 2010
Mortgage bond prices fell slightly last week pushing interest rates higher. Unfortunately the seesaw trading pattern continued with rates rising and falling throughout the week. We started the week with stronger than expected Industrial Production and Capacity Use data pressuring mortgage interest rates higher. Stocks fell mid-week following a shocking 27.2% decline in existing home sales and weaker than expected durable goods orders. This helped us recover some of the earlier losses. Friday was choppy with 1/4 point up and down swings occurring throughout most of the morning. Despite all the volatility we were able to stay relatively flat overall for the week as rates rose by about 1/8 of a discount point.
The employment report Friday will be the most important release this week. Expect more volatility.
________________________________________
Economic Factors
Economic Indicator Release Date Time Consensus Estimate Analysis
Personal Income and Outlays Monday, Aug. 30, 2010 Up 0.3%, Up 0.3%, Important. A measure of consumers' ability to spend. Weakness may lead to lower mortgage rates.
PCE Core Inflation Monday, Aug. 30, 2010 Up 0.1% Important. A measure of price increases for all personal consumption. Weaker figure may help rates improve.
Consumer Confidence Monday, Aug. 30, 2010 51.3 Important. An indication of consumers' willingness to spend. Weakness may lead to lower mortgage rates.
ADP Employment Tuesday, Aug. 31, 2010 -20k Important. An indication of employment. A large decrease in payrolls may bring lower rates.
ISM Index Tuesday, Aug. 31, 2010 53.3 Important. A measure of manufacturer sentiment. Weakness may lead to lower mortgage rates.
Revised Q2 Productivity Wednesday, Sept. 1, 2010 Down 1.5% Important. A measure of output per hour. Improvement may lead to lower mortgage rates.
Factory Orders Wednesday, Sept. 1, 2010 Up 0.5% Important. A measure of manufacturing sector strength. Weakness may lead to lower rates.
Employment Friday, Sept. 3, 2010 9.6%, Payrolls -120k Very important. An increase in unemployment or a large decrease in payrolls may bring lower rates.
Productivity
Productivity is the rate at which goods or services are produced. It is most commonly defined in terms of labor, which is the contribution of people to the process. Labor costs represent about two thirds of the value of the output produced. The Bureau of Labor Statistics of the US Department of Labor releases the most widely cited productivity statistics quarterly and annually. Increased productivity is often credited for economic growth with little signs of inflation.
Productivity is significant in that as it increases, businesses can produce more with the same or less input. This wealth building effect is vital to the US economy. As productivity increases, the US economy generally performs better. As productivity decreases, the economy generally suffers. While the bond market generally favors signs of weakness in the economy, bonds tolerate growth as long as the economic environment shows little or no inflationary pressures. Keep in mind that rates remain very favorable. Now is a great time to avoid the uncertainty surrounding continued market volatility.
Mortgage bond prices fell slightly last week pushing interest rates higher. Unfortunately the seesaw trading pattern continued with rates rising and falling throughout the week. We started the week with stronger than expected Industrial Production and Capacity Use data pressuring mortgage interest rates higher. Stocks fell mid-week following a shocking 27.2% decline in existing home sales and weaker than expected durable goods orders. This helped us recover some of the earlier losses. Friday was choppy with 1/4 point up and down swings occurring throughout most of the morning. Despite all the volatility we were able to stay relatively flat overall for the week as rates rose by about 1/8 of a discount point.
The employment report Friday will be the most important release this week. Expect more volatility.
________________________________________
Economic Factors
Economic Indicator Release Date Time Consensus Estimate Analysis
Personal Income and Outlays Monday, Aug. 30, 2010 Up 0.3%, Up 0.3%, Important. A measure of consumers' ability to spend. Weakness may lead to lower mortgage rates.
PCE Core Inflation Monday, Aug. 30, 2010 Up 0.1% Important. A measure of price increases for all personal consumption. Weaker figure may help rates improve.
Consumer Confidence Monday, Aug. 30, 2010 51.3 Important. An indication of consumers' willingness to spend. Weakness may lead to lower mortgage rates.
ADP Employment Tuesday, Aug. 31, 2010 -20k Important. An indication of employment. A large decrease in payrolls may bring lower rates.
ISM Index Tuesday, Aug. 31, 2010 53.3 Important. A measure of manufacturer sentiment. Weakness may lead to lower mortgage rates.
Revised Q2 Productivity Wednesday, Sept. 1, 2010 Down 1.5% Important. A measure of output per hour. Improvement may lead to lower mortgage rates.
Factory Orders Wednesday, Sept. 1, 2010 Up 0.5% Important. A measure of manufacturing sector strength. Weakness may lead to lower rates.
Employment Friday, Sept. 3, 2010 9.6%, Payrolls -120k Very important. An increase in unemployment or a large decrease in payrolls may bring lower rates.
Productivity
Productivity is the rate at which goods or services are produced. It is most commonly defined in terms of labor, which is the contribution of people to the process. Labor costs represent about two thirds of the value of the output produced. The Bureau of Labor Statistics of the US Department of Labor releases the most widely cited productivity statistics quarterly and annually. Increased productivity is often credited for economic growth with little signs of inflation.
Productivity is significant in that as it increases, businesses can produce more with the same or less input. This wealth building effect is vital to the US economy. As productivity increases, the US economy generally performs better. As productivity decreases, the economy generally suffers. While the bond market generally favors signs of weakness in the economy, bonds tolerate growth as long as the economic environment shows little or no inflationary pressures. Keep in mind that rates remain very favorable. Now is a great time to avoid the uncertainty surrounding continued market volatility.
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