AAXA's John Smaldone is Featured in this Month's Issue of The Reverse Review

John Smaldone, Senior Vice President of AAXA's Reverse Mortgage Division is a featured contributor in this month's issue of The Reverse Review magazine. The article discusses the current state of the reverse mortgage marketplace and how recent events led to changes that have negatively impacted both seniors and those trying to assist them.

Your can read the entire article here (see page 31 for the article and page 11 for John's bio info).

Rates Fall yet Again

Mortgage rates opened slightly lower again for the fourth straight day. This morning, mortgage bonds were trading practically unchanged (+6bp around 11:00 am). According to Barry Habib of the Mortgage Market Guide, bonds are close to $101.50 and they have not been above this level since early October where they remained for a short window of time. If you were thinking about refinancing, now is likely a great time to pull the trigger. Rates are still near historic lows and there is little doubt that rates will not remain this low for long.

AAXA Launches New Website!

AAXA's new Indiana mortgage site is up and running! The new site is easy to navigate, features our "Quick Quote" form and highlights one of our top mortgage loan advisors, Chris Turner. We're excited to reach out to homebuyers in Indiana and continue expanding our online presence within the mortgage industry. Check out the press release!

Rates Drop for 3rd Straight Day

Hello Folks,
Rates continued on their downward trend today. This is the third day in a row that rates have dropped. Borrowers can expect rates in the 4.750 to 5.375% range with zero points and standard closing costs for single family, primary residences, with 5-20% down and 740+ credit. If you were on the fence on whether to refinance, now might be a good time to put your toes back in the water. Give AAXA a call today for a free rate quote and consultation.

Mortgage Rates - Market Update July 28th, 2009

Mortgage rates managing an improvement this morning compared to yesterday's market close. There are definitely some headwinds for rates this week as a large supply of Treasury bonds are being auctioned which competes for investment dollars and can take money out of mortgage bonds, increasing rates. The stock market has also pulled a good bit of money out of mortgages of late with the broader market rising 13% in just the last 3 weeks. This rally could be short lived as the market comes to grips with the reason for the rally; companies are beating expectations, however those expectations have been very low. The reality is that the economy still has a lot of healing to do, and that will not be easy given the labor market weakness along with the housing market bloodbath. Home prices are showing signs of stabilizing and we are seeing more first time buyers pour into the market. If you have a job, now is the time to buy a home given the low prices, abundant supply, and historically low rates.

For an update on what mortgage rates are doing at any time, contact an AAXA loan advisor today or fill out a request on our website http://www.forthebestrate.com/mortgage-rate-search.aspx . Portions of this material are taken from a great resource for those of you interested in more detail on the mortgage bond market; Barry Habib's Mortgage Market Guide, http://www.mortgagemarketguide.com/. Visit AAXA's official web site to find additional information on mortgage rates and programs.

Mortgage Rates - Market Update July 23rd, 2009

Mortgage rates are being pressured today by a triple threat; 1) an improving stock market pulling money out of bonds, 2) favorable economic data and earnings reports, and 3) an oversupply of Treasury bonds which are due for another $110 Billion in auctions next week. The longer term picture still looks positive for interest rates based on Ben Bernake's statements to Congress on Tuesday and Wednesday. He said the Fed expects inflation to remain low for a couple of years and that the Fed funds rate will remain near zero for the foreseeable future. However, today rates are feeling the heat.

For an update on what mortgage rates are doing at any time, contact an AAXA loan advisor today or fill out a request on our website http://www.forthebestrate.com/mortgage-rate-search.aspx . Portions of this material are taken from a great resource for those of you interested in more detail on the mortgage bond market; Barry Habib's Mortgage Market Guide, http://www.mortgagemarketguide.com/. Visit AAXA's official web site to find additional information on mortgage rates and programs.

Mortgage Rates - Market Update June 16th, 2009

Mortgage rates are holding steady today from yesterday's improvement. The main driver for mortgage rates right now is the stock market - as Stocks rally, money flows out of bonds and rates rise, and when stocks fall, the opposite occurs and rates fall. Technically, stocks are testing an important level of support right now and their direction will likely dictate rates for the rest of the week. In fundamental news, inflation at the wholesale level came in below expectations; the PPI was a 0.2% in May versus expectations for a 0.6% rise. Also, housing starts were up 17% to an annual rate of 532,000, well above expectations of 485,000. Both reports are good news for the housing market and overall economy. For an update on what mortgage rates are doing at any time, contact an AAXA loan advisor today or fill out a request on our website http://www.forthebestrate.com/mortgage-rate-search.aspx .

Portions of this material are taken from a great resource for those of you interested in more detail on the mortgage bond market; Barry Habib's Mortgage Market Guide, http://www.mortgagemarketguide.com/. Visit AAXA's official web site to find additional information on mortgage rates and programs.