HomePath Loans in Arizona

TED CANTO- Ten Day Close Guarantee (Academy Mortgage www.tendayclose.com) — Mon, 30 Aug 2010 18:25:22 -0400

HomePath Loans in Arizona

With the number of REO properties increasing, HomePath financing is becoming more common compared to a year ago. HomePath financing. HomePath financing is available for Fannie Mae REO's (Real Estate Owned/ Bank Owned properties) by searching if the property is located on HomePath.com property search tool.

The more REOs hit the market, the more questions we are being asked about the program. I hope that this will provide you with some clarity or information that you can use to take advantage of this great program. However, there are distinctions between the two types: HomePath Mortgage and a HomePath Renovation Mortgage. The difference being, the HomePath Renovation Mortgage will allow minor fixes to the property.

Here is a quick example of the HomePath Mortgage:

Minimum 3% down for primary residence. (5% seems to be the prevalent outcome).
10% down investment property
Borrower can own up to 10 financed properties (but need 25% down if they own more than 4)
- Check with your local lender to determine if they have overlaying guidelines.
NO APPRAISAL NEEDED
NO MORTGAGE INSURANCE
High balance (jumbo) and interest only products available
Seller contributions
- up to 6-9% on primary residence (the larger the down payment, the larger the allowable contribution)
- maximum of 2% on investment property
The HomePath Loan tends to be higher in rate and at times, higher in cost when compated to a standard 30 year fixed conforming loan.
- If you want an equivalent rate to the going 30 year fixed, the loan will price with an additional (approx) 1% to 3.50% discount points. However, these costs are often covered by the seller and there is no mortgage insurance. In lieu of the discount points, one can just opt for the higher rate in lieu of the discount points.
Same basic underwriting requirements of a conforming loan, but without the property issues (appliances missing, small wall patchwork, etc..) does not present problems with the financing.

--->>>Click here to learn more about HomePath Loans

Academy Mortgage serving Maricopa County (Chandler, Mesa, Phoenix, Tempe, Gilbert, Glendale, Scottsdale, Queen Creek and the greater Phoenix Metro Area)

USDA Home Loans Are Available in Arizona

TED CANTO- Ten Day Close Guarantee (Academy Mortgage www.tendayclose.com) — Fri, 30 Jul 2010 19:45:43 -0400

USDA Home Loans Are Available

I have had many people contact me in the last couple of months requesting information or inquiring whether or not USDA Home Financing is available. There have been stories of Loan Originators using stalling tactics to hold back their prospective clients from going to "THE OTHER LENDER" who claims to have available USDA financing.

Today I am happy to say that USDA Home financing is indeed available, however with Congress yet to commit a new round of appropriation/ funding to the USDA Program, many lenders have decided to add a set of overlays (additional self-prescribed guidelines) that protect the lender against any liability. Most lenders are manually underwrting these loans, so that means the requirements are a bit more strict.

USDA Loans are available at Academy Mortgage, however with the following requirements:

1. Loan must have a 1st payment date of October 1st, 2010 (or later).

2. Borrower's first mortgage payment must be collected at closing. Academy will submit payment to investor.

3. Minimum FICO score for product (until further notice): 680 (no exceptions)

4. No Bankruptcies in past 36 months

5. Ratios limited to 29/41 (no exceptions)

For more information, please contact me at 480.344.3671 or you can visit me at www.tedcanto.com

What’s The Secret? To Generating Real Estate Leads On The Internet?

TED CANTO- Ten Day Close Guarantee (Academy Mortgage www.tendayclose.com) — Thu, 29 Jul 2010 14:23:21 -0400

Via Stephen MyTitleGuy@Me.com Garner ( MyTitleGuy.Net (I.D.S.)):

OK, so maybe this didn’t happen………….

I just escaped! I ran all the way home to tell you what just happened to me. I can’t believe this….I’m out of breath……. Ok, breathe…in…out….in…out. Ok, yesterday, Wednesday, July 28th, 2010, 1700 hours, I mean 5:00 P.M., (sorry, I reverted back to my military training there for a minute. Won’t happen again.) Ted Canto (a loan officer here in the Southeast Valley) and I left my office in Mesa, Arizona, (really its the Mesa-Gilbert Border), any way… after another successful day of helping Arizona REALTOR’s grow their business using Web 2.0 tactics. You know….Facebook, Twitter, LinkedIn, WordPress, ActiveRain, Yelp, YouTube, the list really goes on and on. Anyway, we left my office yesterday, whistling “girls just want to have fun” the theme song to Mission Impossible when everything went black!

I heard the noise of screeching tires, then the heat of a van, probably a mini van of some kind, in front of me. 2 guys with sharpened brooms and fishing poles 12 commandos with guns, and grenades, and knives, picked me up and threw me in the side of the van, I cried held my composure….I didn’t want them to see that I was scared not scared at all! I could hear Ted yelling “I want my Mommy!” “You’ll never take me alive!” I didn’t know what these guys wanted but I knew them meant business!

You see, I am a marketing rep for a national title insurance company based in Phoenix Arizona, I help my clients (mostly Realtors) get found on the Internet….where more and more of their clients are. Up until now I thought that my competitors were just frustrated, I never thought that anyone would do something like this! (If they did that is). Anyway, I woke up, to tape being ripped off my mouth, and bright lights in my face. Some GUY, with horrible breath was screaming at me, “Whats the secret?”, I’m like,.,, “Dude..the secret to what?“ “The Internet!…what is the secret to generating leads on the Internet!”

I’m like “whatever dude….I’m not telling you anything!” He says, “We will see about that, after the truth serum starts to take effect”. Truth Serum?

Ok, so, anyway, I escaped! And these Idiots recorded the whole darn thing! I grabbed the tape on my way out. I want you to see what happened!

As you can see this has been quite an experience. I still can’t believe this happened. I know the title industry is competitive but this is ridiculous! I got home and jumped right into my Tae-Bo videos Tae Kwon Do

By the way, has anyone seen Ted Canto?

NMLS - Loan Officer Look Up Service

TED CANTO- Ten Day Close Guarantee (Academy Mortgage www.tendayclose.com) — Fri, 02 Jul 2010 15:10:50 -0400

NMLS - Loan Officer Look Up Service

Do you know your Loan Officer? I mean do you really know your Loan Officer? Has he/ she have any pending litigation? Have committed fraud or have scammed anyone? Better or worse, are they licensed?

You may or may not know but the Federal requirement to become licensed under the NMLS (The Nationwide Mortgage Licensing System) expired July 1, 2010. This means that any "Former" Loan Originator who is not licensed, is unable to discuss any financial matters with a potential client nor take a loan application. They are prohibited from advertising, sending emails, and any form of communication that conveys that they are a Loan Officer.

This now allows professionals and consumers alike the ability to verify license status and check whether or not the Loan Originator has anything that would prevent the consumer from working with that person.

As a real estate professional, you want to ensure that, if, you are currently working with a Loan Officer, that they be licensed accordingly and are able to complete your clients' loans. More interestingly, up to 60-70% of Loan Officers filed 3 weeks prior to the deadline. This means a backlog of license applications that will take some governmental departments up to 2-4 months to review, process and approve or reject license applications. These figures do not represent the number of applicants that have failed the state and national requirements.

How do you know if the Loan Officer is licensed? You can go to The NMLS Consumer Access Website located at http://www.nmlsconsumeraccess.org/Home.aspx/MainSearch and learn more. Do keep in mind that the site is not fully updated and the frequency it is updated may be determined by the backlog of agencies reporting in a timely manner.

Homebuyer Tax Credit Extended

TED CANTO- Ten Day Close Guarantee (Academy Mortgage www.tendayclose.com) — Thu, 01 Jul 2010 01:51:19 -0400

Homebuyer Tax Credit Extended

It's OFFICIAL!! They finally agreed on something and were able to do something right!

The Senate and Congress has finally sent President Obama a plan to give home buyers an extra three months to qualify for up t0 $8,000 in federal tax credits. Buyers who already have executed contracts prior to April 30th will now have until Sept. 30 to complete their purchases. Under the current terms, buyers had until April 30 to get a signed sales contract and until June 30 to complete the sale.

The House approved the measure on Tuesday. Legislation in the Senate was approved Wednesday night by unanimous consent. Talk about pulling a rabbit out of the hat!

Now breathe and relax and make sure that your loan gets closed by Sept. 30th. Also check to see if your Loan Officer is licensed and bonded as it will be a requirement as of July 1st.

For more market information go to: www.tedcanto.com

HomePath Financing is Available at Academy Mortgage, Arizona

TED CANTO- Ten Day Close Guarantee (Academy Mortgage www.tendayclose.com) — Thu, 03 Jun 2010 21:21:55 -0400

HomePath Financing is Available at Academy Mortgage, Arizona

If you are thinking about buying a home and FHA is not an attractive or viable option or better yet, the property does not meet FHA's stringent requirements, you might want to think about using HomePath Financing by Fannie Mae. For a while many lenders and brokers remained at a distance from this program due to very few investors actually approving this program. However, Academy Mortgage is now one of those lenders. We are well known for our efficiency and detailed customer service thus making the process as painless as possible.

Here is a quick synopsis of the HomePath Mortgage:

Minimum 3% down for primary residence, 10% down investment property
Borrower can own up to 10 financed properties (but need 25% down if they own more than 4)
NO APPRAISAL NEEDED
NO MORTGAGE INSURANCE
High balance (jumbo) and interest only products available
Seller contributions can be 6-9% on primary residence (the larger the down payment, the larger the allowable contribution), only 2% on investment property
This loan does price with a higher rate than your average 30 year fixed conforming loan. If you want an equivalent rate to the going 30 year fixed, this loan would price with an additional approx 1% to 3.75% discount points. Keep in mind, much of this can be covered by the seller and there is no mortgage insurance. Of course one can just opt for the higher rate in lieu of the discount points.
Same basic underwriting requirements of a conforming loan, but without the property issues (appliances missing - no problem)

HomePath Renovation Loan

This will allow for light renovations to the property that can be included into the loan. Information about this specific product is scarce. In general, renovation and construction type of products work like this:

An appraisal is done "subject to" the completion of the repairs. The value will typically be the appraised value or the cost of the house plus renovations, whichever is lower. The down payment is based on this value (hence, most of the renovation work gets financed into the loan).
The loan closes and the repairs are completed by a licensed contractor within a specified amount of time
There is more involved with these types of loans, such as: bids, inspections, draw schedules, etc.
The interest rate is typically higher than your general conforming 30 year fixed

With the streamlined process, we at Academy Mortgage make it easier with our Ten Day Close Guarantee, call us and ask for more details.

www.tedcanto.com

www.academymortgage.com/tedcanto

USDA Has Funds Available For Home Financing

TED CANTO- Ten Day Close Guarantee (Academy Mortgage www.tendayclose.com) — Tue, 01 Jun 2010 20:54:58 -0400

USDA Has Funds Available For Home Financing

Effective 06/1/2010

Effective June 1, 2010, USDA Home Loan financing is available to homebuyers. However there are some major changes to the program.

First: The USDA Funding Fee is no longer 2.00% (two percent)

Second: The "NEW" USDA Funding Fee is 3.50% (three and a half percent)

Third: The GUS System (Guarantee Underwriting System) is currently turned off. This means that the homebuyer's qualification will be strictly adhered to the USDA Guidelines.

**With GUS; the homebuyer can potentially qualify for a higher sales price

If you have any questions, please call us at 480.344.3671

Academy Mortgage - Mesa, AZ

Ted Canto, Mortgage Consultant

www.academymortgage.com/tedcanto

www.tedcanto.com

www.tendayclose.com

www.arizonamortgageteam.com

USDA: Running Out Of Funds? UPDATE as of 06/01/10 - USDA NOW HAS FUNDS

TED CANTO- Ten Day Close Guarantee (Academy Mortgage www.tendayclose.com) — Thu, 01 Apr 2010 00:17:50 -0400

USDA Running Out of Funds As of 06/10/2010 - USDA now has funds available. For more info go to : USDA Has Funds

It is well known that USDA is running out of money in May 2010. However, one should consider the consequences to the depletion. USDA has informed us that they are now leaning on $24 million dollars. When considering how much the program has gained in popularity, this amount will not go very far, if at all last until May.

There is some cause for concern, however knowledge is king and it is not the problem rather the solution we must focus on.

FHA is raising the Upfront Mortgage Insurance Premium from 1.75% to 2.25%. Although this doesn't necessarily affect the qualifcation, it is indicative that the industry is gauging their previous losses with a magnifying glass. On another change, FHA has announced that come early summer, the maximum seller contribution will become 3% compared to the current 6%. This means buyers will need to not only bring in their 3.5% required down payment but also another 1-3% depending on the loan amount and the hard costs associated with it. This may very well lock out buyers who cannot come up with 5-6%, especially in these hard times.

Another thing to consider are the homes under contract that are depending on USDA financing. What happens to those sellers and buyers if they fail to secure the necessary USDA financing? How many of those borrowers have sufficient funds to initiate a Plan B (Placing 3.5% as a down payment)?

This information is not to be alarmist rather inform both professional and consumer that they will need to weigh their options and form a Plan B in the event these changes and future changes affect the outcome of finalizing the purchase of a home.

One tip is to seek a lender that is known for closing quickly and try to lock in either an FHA Case Number before April 5th or underwrite the USDA loan quickly and solidify what is known as USDA's Final Commitment. A company that can offer a Ten Day Close and that has their own underwriting and funding under one roof.

Ted Canto

Sr. Mortgage Consultant

Academy Mortgage - Mesa, AZ

www.academymortgage.com/tedcanto

www.tedcanto.com

www.tendayclose.com

www.arizonamortgageteam.com

FHA Changes on April 5th, 2010: 3% Seller Contribution Maximum

TED CANTO- Ten Day Close Guarantee (Academy Mortgage www.tendayclose.com) — Fri, 26 Mar 2010 20:32:51 -0400

FHA Changes on April 5th, 2010: 3% Seller Contribution Maximum

And if you think things could get any tougher for an FHA borrower!

In an effort to tighten up its latest embarassment, (FHA's balance sheet and dwindling capital reserves), the Federal Housing Authority is rolling out sweeping financial changes that can affect you or your customers. FHA borrowers will need to look better on paper and be better credit risks moving forward in 2010.

To boot, Mortgage insurance premiums are rising from 1.75% to 2.25%.

Click for major FHA Changes on April 5th.

Is USDA running out of money?

TED CANTO- Ten Day Close Guarantee (Academy Mortgage www.tendayclose.com) — Thu, 11 Mar 2010 22:09:06 -0500

You may or may not have heard, USDA has announced that they anticipate funding for the guarantee program will be exhausted by the end of April. This announcement is different from the past announcements regarding exhaustion of funds, in that this time new funding is not certain. USDA will not be issuing conditional commitments with the conditional statement “subject to appropriation of funds”. Click here for USDA Update

USDA Rural Development Home Loan Program - Running out of funds

Appraisals: FHA vs. Conventional

TED CANTO- Ten Day Close Guarantee (Academy Mortgage www.tendayclose.com) — Wed, 10 Mar 2010 00:04:42 -0500

Appraisals: FHA vs. Conventional

Once upon a time, there was a difference between an FHA appraisal compared to a Conventional appraisal. For many years, real estate professionals, investors and motivated buyers avoided an FHA loan out of the fear that the appraisal, known for it's vigorous inspection of the condition of the property, would complicate the transaction and therefore opening preference to a contract offer involving a conventional loan program versus accepting an offer with an FHA loan.

To say it bluntly: That was then, this is NOW! In today's lending industry, there is no difference between a conventional appraisal when compared to an FHA appraisal. It is an industry wide fallacy that has corrupted the minds of real estate professionals and consumers alike.

The reasons are simple! Click here for -> Differences on FHA and Conventional Appraisals

Fannie Mae: You can now choose your own Title Insurance and Escrow Company

TED CANTO- Ten Day Close Guarantee (Academy Mortgage www.tendayclose.com) — Tue, 09 Mar 2010 20:41:42 -0500

Fannie Mae: You can now choose your own Title Insurance and Escrow Company

You and Many homebuyers have encountered the typical experience when dealing with an REO deal. After driving around for days and putting in countless offers, you get one of your offers accepted to only have the listing agent tell you that you have no choice in who you and your client can use in regards to their title insurance and escrow company.

Once you sign the contract you are told to open escrow by depositing an agreed amount known as an Earnest Money Deposit, as you well know. This company happens to be on the other side of town or sometimes out of state. It is rare that someone will get an title insurance and escrow company that is close by. Call it Murphy's Law!

Here comes the fun part! Click Here Fannie Mae allow you to choose

Short Sale And Home Loan Modification Assistance: Help is on the way, starting on April 5th

TED CANTO- Ten Day Close Guarantee (Academy Mortgage www.tendayclose.com) — Wed, 10 Feb 2010 23:36:16 -0500

Short Sale And Home Loan Modification Assistance: Help is on the way, starting on April 5th

November 30, 2009, the Treasury Department released the guidelines and forms for its Home Affordable Foreclosure Alternatives Program also known as HAFA. HAFA's intention, based on qualifying factors, is to make it easier for homeowners, who do not qualify for a Home Loan Modification, to have the alternative of selling their home as a "Short Sale". This will dramatically speed up the often long and drawn out process of having the lender approve the owner for a short sale. By streamlining the process, HAFA will help to stabilize inventory levels and also home prices. How so? There is an easy answer. The cost/loss of quickly approving a short sale out weighs the cost and markdown of price of placing a home into a foreclosure. Consumers, the banks and the real estate market will win. HAFA works by providing monetary incentives connected with a short sale or a deed-in-lieu of foreclosure (DIL) in order to avoid foreclosure on a loan eligible for modification under the HAMP program. Servicers participating in HAMP are also required to comply with HAFA. In other words, if a client fails to qualify for a home loan modification the bank/ lender will counter the loan modification applicant with an approved Short Sale Agreement with a predetermined price based on the market value. This allows the client to go to market immediately allowing for a motivated buyer to purchase the property quickly without further eroding home values.

A list of servicers participating in HAMP is available at MakingHomeAffordable.gov. HAFA applies to loans not owned or guaranteed by Fannie Mae or Freddie Mac, which will issue their own versions of HAFA in coming weeks.

Learn More about the Home Affordable Foreclosure Alternatives Guidelines

For more real estate information you can trust, please visit www.tedcanto.com

A Look Behind the Curtain at the Jobs Report

TED CANTO- Ten Day Close Guarantee (Academy Mortgage www.tendayclose.com) — Mon, 08 Feb 2010 20:10:45 -0500

Provided to you Exclusively by THE CANTO TEAM For the week of Feb 08, 2010 | Vol. 8, Issue 6 Ted Canto
Senior Mortgage Consultant
Academy Mortgage
Office: 480-344-3671
Cell: 480-650-8602
Fax: 480-374-6958
E-Mail: ted@tedcanto.com
Website: www.tedcanto.com Going the extra mile is my standard, not the exception Last Week in Review

"BOTH OPTIMISTS AND PESSIMISTS CONTRIBUTE TO OUR SOCIETY. THE OPTIMIST INVENTS THE AIRPLANE, AND THE PESSIMIST - THE PARACHUTE." G.B. Stern. And last week's Jobs Report had something for both optimists and pessimists, as the numbers were both good and bad...depending on which survey you looked at, and what numbers you focused on.

First, the headline numbers: The Labor Department reported that there were 20,000 jobs lost in January, which was worse than expectations of 15,000 jobs gained. However, the Unemployment Rate came in lower at 9.7%, down from last month's read of 10.0%. But what do these numbers actually tell us?

Remember that the numbers in the Jobs Report come from two separate surveys: First, the Business Survey - also called the Establishment Survey or Current Employment Statistics Survey - which surveys about 140,000 businesses and government agencies. It uses something called the "birth/death ratio" to provide an estimate of the number of jobs gained or lost each month. This survey is used to report the headline number of jobs gained or lost. Now there is also the Household Survey, also known as the Current Population Survey, which uses actual phone calls to 50 - 60,000 households to gather its data. This survey is used to report the headline Unemployment Rate.

The Business Survey is very susceptible to inaccuracy, particularly during times when the labor market is substantially worsening or improving...and you don't need to look much further than all the revisions to prior reports to see how inaccurate the report seems to be. December's report was revised to 150,000 jobs lost, nearly doubling the original report of 85,000 job losses. Although November showed 60,000 additional gains - wait a minute - October's revisions showed another 100,000 jobs lost. And if that weren't enough, the Business Survey threw in a "Benchmark Revision", which indicated that there were an additional 900,000 jobs lost from March 2008 - March 2009 from what was previously reported!

-----------------------
Chart: Non-farm Payroll Change and Revisions

So what about the other report, the Household Survey? It gives us the headline Unemployment Rate, which was reported at 9.7%. That's an improvement over last month's reading of 10.0%. But this survey has its own job creation or loss number, just like the Business Survey does. The Household Survey showed that 540,000 jobs were created during January, which is really good news, and explains why the Unemployment Rate declined in the face of the Business Survey showing job losses.

There are definitely some glimmers of hope for the job market - but any way you look at it, the bottom line is that continued and significant improvements need to be seen in the labor market before the economy can be considered out of the woods.

Another important note for the week - Pending Home Sales for December were up significantly from November's reading, and up a healthy 10.9% over December 2008, as homebuyers take advantage of today's low rates and tax incentives. And speaking of low home loan rates, the Federal Reserve purchased $12 billion in Mortgage Backed Securities last week, bringing the total to $1.173 trillion since the program began in January of 2009...which leaves just $77 billion in purchases to be made over the next eight weeks until the program ends on March 31^st. While home loan rates improved very slightly during this volatile week - don't forget that when the Fed is done buying, home loan rates will be very susceptible to moving higher. Please reach out to me to discuss how you or someone you know might benefit from current low rates, or the Homebuyers Tax Credit. The clock is ticking on both these fronts - so why wait?

THE NEW MILEAGE RATES ARE HERE! THE NEW MILEAGE RATES ARE HERE! OKAY...NEWS FROM THE IRS ISN'T NECESSARILY ALL THAT EXCITING, BUT YOU DON'T WANT TO MISS OUT ON A SINGLE TAX DEDUCTION YOU MIGHT HAVE COMING. CHECK OUT THIS WEEK'S MORTGAGE MARKET GUIDE VIEW FOR THE DETAILS.

Forecast for the Week

We have a quiet week ahead when it comes to economic reports, but whether that's good or bad news remains to be seen. Be sure to look for Thursday's Initial Jobless Claims Report, as last week's numbers came in at 480,000, quite a bit worse than the 455,000 expected and the highest count since mid-December. Last week's Continuing Claims increased slightly to 4.6 million, and remember this...the Continuing Claims number doesn't even account for the nearly 6 million people whose Unemployment benefits have expired, and are now receiving Extended Emergency Unemployment benefits.

Also on tap for Thursday is the Retail Sales Report for January. This report is the most-timely indicator of broad consumer spending patterns, and it is important to see in which direction the numbers are moving. And the Treasury will be auctioning $40B in 3-year Notes on Tuesday, $25B in 10-years on Wednesday and $16B in 30-year Bonds on Thursday for a total of $81B. These auctions could move the markets, especially in the face of few scheduled economic reports.

Remember: Weak economic news normally causes money to flow out of Stocks and into Bonds, helping Bonds and home loan rates improve, while strong economic news normally has the opposite result.

As you can see in the chart below, Bond prices have been improving of late, but there is tough technical resistance ahead. As always, I'll be watching closely - so give me a call this week if you'd like an update on the market action!

Chart: Fannie Mae 4.5% Mortgage Bond (Friday Feb 05, 2010) The Mortgage Market View...

New Mileage Rates for 2010

If you drive a car, truck or van for work, you'll want to make sure you know the standard mileage rates that the Internal Revenue Service (IRS) has set for 2010. And remember, these mileage rates are not just used to calculate deductible costs for driving an automobile for business, but also for charitable, medical or moving purposes.

New for 2010

As of January 1, 2010, the standard mileage rates are as follows:

Businesses = 50 cents per mile driven
Medical or moving = 16.5 cents per mile driven
Charitable organizations = 14 cents per mile driven

Note: The 2010 rates are slightly lower than last year's, due to generally lower transportation costs as compared to a year ago.

Make Sure You Qualify

Before you calculate your deduction, make sure you qualify. The IRS reminds taxpayers that they cannot use the business standard mileage rate for a vehicle after using any depreciation method under the Modified Accelerated Cost Recovery System (MACRS) or after claiming a Section 179 deduction for that vehicle. In addition, the business standard mileage rate cannot be used for any vehicle used for hire or for more than four vehicles used simultaneously.

Additional Option

Although the IRS provides the standard mileage rate for ease and convenience, you're not required to use it. If you prefer, you can calculate the actual costs of using your vehicle instead of using the standard mileage rates.

Best yet - most people find that they save money on taxes by working with a tax professional. Let me know if you need a referral!

The Week's Economic Indicator Calendar

Remember, as a general rule, weaker than expected economic data is good for rates, while positive data causes rates to rise.

Economic Calendar for the Week of February 08 - February 12

Date ET Economic Report For Estimate Actual Prior Impact Wed. February 10 08:30 Balance of Trade Dec -$35.5B -$36.4B Moderate Thu. February 11 08:30 Jobless Claims (Initial) 2/6 465K 480K Moderate Thu. February 11 08:30 Retail Sales Jan 0.5% -0.3% HIGH Thu. February 11 08:30 Retail Sales ex-auto Jan 0.5% -0.2% HIGH Fri. February 12 10:00 Consumer Sentiment Index (UoM) Feb 75.0 74.4 Moderate It is important that you know that I always have time for you, your friends & family members & that you would like to refer my services.
The material contained in this newsletter is provided by a third party to real estate, financial services and other professionals only for their use and the use of their clients. The material provided is for informational and educational purposes only and should not be construed as investment and/or mortgage advice. Although the material is deemed to be accurate and reliable, we do not make any representations as to its accuracy or completeness and as a result, there is no guarantee it is not without errors.
As your trusted advisor, I am sending you the MMG WEEKLY because I am committed to keeping you updated on the economic events that impact interest rates and how they may affect you.
In the unlikely event that you no longer wish to receive these valuable market updates, please USE THIS LINK or email: ted@tedcanto.com
If you prefer to send your removal request by mail the address is:
Ted Canto
5304 E. Southern Ave.
Suite 101
Mesa, AZ 85206

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$8000 & $6500 Tax Credit for Homebuyers

TED CANTO- Ten Day Close Guarantee (Academy Mortgage www.tendayclose.com) — Tue, 26 Jan 2010 00:06:35 -0500

$8000 & $6500 Tax Credit for Homebuyers

If you are like many Americans thinking about buying a home and would like to learn more about the $8,000 & $6500 Tax Credit and have questions, you will find this post useful. You are not alone but your time is running out. April 25, 2010 is approaching and contrary to some people's belief, the tax credit is not going to be extended again. The Feds have signaled that the stimulus is working and there is no more need for an extension of the $8000 & $6500 tax credit, for many reasons that will distract us from the following information.

So what are the details to $8,000 First-time Home Buyer Tax Credit Expansion? (Read More)