The Charlotte Mortgage Update July 17, 2008 - Lock NOW
July 17th, 2008 Categories: Real Estate News
Mortgages In Charlotte- Weekly Update
By Olan Carder, Myers Park Mortgage
OIL DOWN TO $130!!! Drop is spurring economic rebound!!!
I am giving extra credit to whoever can tell me the single largest inflationary factor we have been talking about lately….. That’s right Jimmy, its OIL!!! We have been fixated on the price of crude and the effect it has on the overall economy. Record oil prices make everything cost more… consumers don’t like that!
The DOW has improved over 450 points in two days lead by better than expected earnings for Wells Fargo and JP Morgan Chase! These are financial companies, so any sign of strength in the sector is big news for Wall Street.
This is bad news for mortgage rates, in the short run.
Current Advice: LOCK IMMEDIATELY
30 Year rates are around 6.375% and 15 year fixed are running around 5.875%. Locking has been suspended for the moment because rates are rising so fast!!!
We offer rate protection against higher and lower rates! If that peeks your interest - give me a call!
Product Highlight
Conforming Stated Income loans
These loans are all but dead. If you need Stated Income… CALL OLAN TODAY! (980-721-7478) There are almost zero lenders still offering Stated Income in N.C.
You can Apply Today at http://www.mycharlottelender.com/applyNow.html.
Olan Carder
Your Charlotte Mortgage Specialist
Myers Park Mortgage
980-721-7478
www.mycharlottelender.com
olan@myersparkmortgage.com
This is a beautiful home! Is the price negotiable? Who is building this waterfront home on Lake Wylie?
After looking at Lake Norman, the price on this home seems reasonable compared to what you get for the quality and same square footage! I want to see more!