Bakersfield CA real estate listings and homes for sale, home buying, home selling information – Aloha Mortgage, Inc.

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Could Mortgage Rates Drop to 5 Percent?

November 9th, 2007 9:38 PM

The manager of the world’s largest bond fund predicted Monday that the Federal Reserve “cannot afford” to let U.S. housing prices fall and will have to cut interest rates aggressively to prevent it from happening.

"A Fed cannot afford to let homes go down by 10 to 15 percent like we saw in Japan," Bill Gross, chief investment officer of Pacific Investment Management Co., said on CNBC Television. "We've only begun to see the pain from the standpoint of the home owner in terms of those monthly payments. Defaults and delinquencies will increase as we extend throughout 2007 and then into 2008."

Gross expects the Fed to cut the federal funds short-term rate to 3.5 percent, which implies that the 30-year mortgage rates will come down to 5 percent to 5.5 percent.

Source: Reuters News (11/05/07)

Posted by Angela Pauley on November 9th, 2007 9:38 PMPost a Comment (0)

Reverse Mortgages - Now Available

August 30th, 2007 8:06 PM

Please view my most recent flyer, and give me a call if you have any questions.

RevMort 8-10-07.pdf

Posted by Angela Pauley on August 30th, 2007 8:06 PMPost a Comment (0)

100% Financing Still Available for Purchases

August 30th, 2007 8:03 PM

It may seem impossible in the current market, but 100% financing is still available. To qualify, you must have good credit (excellent is not necessary).

You must be able to provide proof of your income (which is considered Full Doc) and pass a debt-to-income ratio. Do not let this scare you away as Fannie Mae rates each client on a per file basis and sometimes allows higher ratios.

Bring your scenarios to me and I will let you know what you need to do to qualify.

If you are having credit issues, I also specialize in helping people improve their credit scores. I also offer this service FREE of charge.

No matter what you decide, my consultations are always FREE and without any obligations. I am in the business to help YOU!

Posted by Angela Pauley on August 30th, 2007 8:03 PMPost a Comment (0)

Mortgage Questions

May 10th, 2007 5:55 PM

This blog was created to provide current and future borrowers with a place to ask questions and receive answers. Feel free to join at anytime.

Posted by Angela Pauley on May 10th, 2007 5:55 PMPost a Comment (0)