Since the Federal Reserve first implemented Quantitative Easing, they have taken the proceeds from those purchases and reinvested them back into the Bond market. Why should you care? The Bond Market is one of the key factors that drives interest rates and when bond investment goes down the interest rates could go up.
Right now the Fed pumps $8-9 BILLION a week into Mortgage Backed Securities (MBS) and Treasuries. If it withdraws all, or a portion of that amount, rates could go up immediately. Fed Reserve Chairwoman Yellen will speak to the House & Senate this week and everyone in our industry will be listening to hear clues around where they are heading.
Offers letters as Income
When buyers change jobs, it can affect the home buying process. Or when relocating to a new City and they would like to only move the family that one time! At First United Bank, we can move forward and close that loan with just an offer letter. As long as your client has a history of employment in that line of work, or just graduated from school with a degree, we can close that loan before they start that new job.
|Geoffrey Davis, Mortgage Loan Consultant|
|6401 S. Custer Rd.
McKinney, TX 75070
|Apply today: http://gdavis.fubmortgage.com|
|VOTED “BEST MORTGAGE PROFESSIONAL” BY D MAGAZINE 2010, 2011, 2012, 2013, 2014 & 2015!!|
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