INTEREST RATES HIT 50 YR LOW... AGAIN!!!!!!!

Remember last November when the Federal Reserve enacted QE2 (Quantitative Easing Program)?  The fallout from that was that we had traders of the treasuries turn into "Bond Vigilanties" and they sold off 10 year notes in protest of this aid by the federal grovernment.  Bill Gross at PIMCO in Newport Beach earlier this year divested himself of the 10 Year Treasury Notes and eluded to a more prosperous GDP.  PIMCO was the largest holder of treasury debt in the United States and possibly globally next to China.  This ran the interest rates to higher levels and was seen as the economy getting stronger.  This was a BAD bet.  8 weeks ago the yield on the 10 Year Treasury Bond was 3.10.  Today's close 1.71 was the yield on the same treasury note.  What this means is that the "cat is out of the bag" and we as a global economy are not expected to fair very well over the next year due to recessionary setbacks. This is excellent news for homeowners in that the refinancing of American homes can now begin with real results.  The large banks are not lending on their retail side but the wholesale activity is still booming.  MAC5 Mortgage, Inc. is in the wholesale side of the business and we are lending.  If you cannot qualify with one lender, always try with another as all lenders are not alike.  Call me for more information and to learn more about the economic news and how it effects you visit my "Hot of the Press" links.

HOMEPATH HOMEBUYER PROGRAM

Are you wondering if there are homebuying programs that help with downpayments?  This program allows the seller to contribute 6% of the sales price to your transaction.

Call today to see if this can help you!!!!!