Interest Rates Improving
February 23rd, 2011
What an overall crazy week it has been in the markets, but the good news is that rates have actually been improving; sticking with the theory that bad news is good news for interest rates. The issues going on in the Middle East, oil prices drastically increasing, and the stock market on decline have contributed to improvements in rates over the last week. This will most likely continue over the coming months. No one sees any light at the end of the tunnel and oil prices will probably continue to increase through the busy fuel months into the summer.
Kerry N. Greenwald
Sr. VA Loan Specialist
Creekside Mortgage Inc.
360.571.LOAN (5626)/503.445.1038
www.VALoanWA.com
www.OregonVALoan.com
February Weekend Event
February 17th, 2011
What an honor and pleasure! Gayle Hepler, VA (& Government) Home Loan Mortgage Specialist was recently invited on base to speak about the benefits of the Federal VA Home Loan mortgage program to our local Oregon Air National Guard commanding officers at their monthly meeting Saturday afternoon.
Thanks to a cordial invite from MSgt Kevin McMichael of the 142nd Red Hawks, Gayle’s talk was broadcast live to remote commanding officers in Salem and Warrenton Oregon.
Gayle answered questions about the Federal VA home loan and included tips on how commanding officers can advise troops on easy ways folks can improve their overall credit standing; helping those who serve us get into position for a successful VA home loan pre-qualification. She also discussed the VA IRRRL, (Interest Rate Reduction Refinance Loan Streamline Refinance Program). Recent lender guideline changes currently allow refinance combined loan to values up to 100% CLTV again. (In a declining home values market, and with plummeting home equity; this is huge for our veterans to be aware of that they can now refinance and lower their rate and payment even if their home value has gone down a bit.) While rates remain at historic lows, now is the time to call Gayle for more information. For copies of her presentation, or to set up a time for Gayle to come and speak to your organization please e-mail Gayle at Gayle@CreeksideM.com or call her at 503-445-1038 Ext. 114. Gayle is a licensed full service Mortgage Loan Originator in OR and WA. www.CreeksideM.com/Gayle www.VALoanSalem.com MLO-120728 At Creekside Mortgage, Inc. We love our Vets. Serving Those Who have Served Us
Gayle Hepler
VA Loan Specialist
NMLO- 120728
Creekside Mortgage Inc.
503.445.1038 ext. 114
gayle@creeksidem.com
www.OregonVALoan.com
Northwest 2011 Outlook
January 3rd, 2011
Going into 2011, I would like to take a snapshot of the real estate market in the Pacific Northwest. We were one of the last in the country to start showing a decline in home values, and we will probably be one of the last to come out of this decline. It looks like nationally, we have hit bottom. Some estimates were that in 2009 and 2010 we would fall back to 2000 numbers. We are now getting close to those figures. 2011 will most likely be the end of the decline. We probably won’t necessarily go up in value anywhere in the near future. As soon as unemployment corrects itself and the economy starts to move somewhat, I feel housing prices will rise after that. My estimate is that we’re in a seven year cycle and we’re about four years into it. We probably have three years before things start to take off again, with a lot depending on how inflation will affect the housing market due to the bubble popping. Will inflation push prices up? No one really knows. There is no time in history that we can reflect on as an example or parallel to what we just went through, so it is tough to say. In my opinion, in the NW, home price recovery will primarily be driven off a correction in the unemployment rate. When we see unemployment the 6% or 7% ranges, I think the housing market will soon follow those numbers.
Kerry N. Greenwald
Sr. VA Loan Specialist
Creekside Mortgage Inc.
360-571-LOAN (5626) / 503.445.1038
www.VALoanWA.com
www.OregonVALoan.com
