My New Mortgage Home in Ephrata!
I moved across the street…now at 114 E. Main St., Ephrata in the Ray H. Good Business Center with H&R Block.
Where’s Brian Been?
Man oh man, I haven’t posted anything since the Ephrata Fair and that was weeks ago. And it was just Flip clips.
Been oh so busy. Lori too. God bless my Rotary pals. A plea for anyone in need of part-time help turned into a 2nd job for Lori. The hours with Scott Eaby work out great with her hours at Ephrata Hospital and all she does on the homefront.
Nathan succombed to arm-twisting by PawPaw to join Cub Scouts. It meets every Monday night at 7, so long school is in session. A parent is required to be there for each meeting in the first year. Right now I’m racing from Kate’s soccer practice to get there on time.
On the soccer front, Mondays, Wednesdays and Sundays, the “Girl Force” (G-Force) is 2-3. We either get crushed or do the crushing, no nail biters.
Tuesday nights is of course, Rotary. Thank God I’m no longer the President!
But the big picture my friends is the realization a couple months back that it will take longer than expected to carve out a profitable niche in mortgage biz on my own here in Ephrata and Northern Lancaster County. Thus I began seeking additional opportunities. For anyone who has been displaced from their work (or is displeased with their work), you know what a frickin joke it is to find a decent job. Good grief, and Lancaster County’s employment picture is supposed to be better than most in the country!
I must admit, this cock-eyed optimist has sorely needed lasik surgery to correct and balance his vision. Heck, even The Boy Who Cried Wolf and Chicken Little both told me to shut the Fu## up with the ”We’ll be all rights” and “It’ll get betters”. We will be all right and it will get better, but right now the Williams family is like a million others, just trying to get by and survive. We last saved for a rainy day 10 YEARS ago, and you know how much it’s rained in a decade.
This blog is for friends and family and clients and people who stumble upon it. I don’t have “tracking” software to let me know who saw it, so if you did, let me know, and pause to share a thought with a comment. I write this to let the world know I’m challenged, and I’m okay with that. Life is like the disclaimer that comes with investing in a stock or mutual fund, “past performance does not guarantee future success.” Brian
Mortgage Update 8/26/09 ARM’s are BACK!
while rates continue to edge down on FIXED rate mortgages, some investors are showing aggressive pricing on Adjustable Rate Mortgages (ARMs).
3/1, 5/1, 7/1 and 10/1 ARM’s have been priced about the same for a year, all no better than 30 year fixed, so there was no reason to take an ARM. NOW, it’s worth a look. It’s more likely to get to mid 4’s with a point on a 5/1 or 7/1 ARM than it will be any time soon on a 30 year fixed. AND, take it from one WHO KNOWS and HAS HAD a 3/1 ARM for SIX YEARS, there is nothing to be afraid of! My current rate is 3.375!!!
That’s the story on mortgage rates in Ephrata, Lancaster and beyond for 8/26/09!
Amish Mass Transit? Bikepooling?
I was out and about going to Open Houses in and around Ephrata on Sunday and I found myself behind this group. It’s like 6 Amish women on some sort of bicycle built for as many. It looks like they could generate a pretty decent amount of speed. Keep in mind, it’s about 2 pm, 90 degrees and super humid, I’m sweatin in shorts and a golf shirt. Maybe the secret to keeping cool is wearing an all cotton apron dress!
Mortgage Update 8/12/09 Is The Party Finally Ending?
The FOMC, Federal Open Market Committee, agreed to keep short term interest rates unchanged. This is not what affects long term rates, like mortgages however.
The Fed has artificially driven mortgage rates lower by spending a trillion of their own dollars to buy Treasury notes over the last 9 months. They anticipate pulling away from this policy by October.
The stock market is reacting positively to this news, as it is a sign of confidence in overall economic recovery. Couple this with a rise in international sentiment that we are exiting global recession, and you have a market ripe for increase in mortgage rates.
There’s been multiple hikes in mortgage rates today already. Something in the 4’s will soon be out of reach on 30 year loans, even with 3 points. Zero points will soon near 6.0, FHA is alread there and 6.5 is around the corner.
Historically, rates are terrific, BUT we’ve lost our long-term memory and adopted a “what have you done lately for me” attitude. Rates in the 6’s will be a big boulder in the road to full blown economic recovery. Then what? Who knows!
That’s the story for those in the market for for mortgage in Ephrata, PA, Lancaster County and most of the USA. Brother Weems reporting!
Kid Free: Yabba Dabba Doo!!!
I took Kate and Nathan down to Nana & Papa’s in VA Thursday. Taught them how to play darts, and in so doing started to trash the wall the board was hung on…even from 3 feet away they each managed to assault the wall.
Saturday Lori dragged me on a 5 mile walk up and down the streets of Ephrata Saturday morning. I was so tired, I went back to bed after we got home. It was good to rest, as we had a party to go to later. The party was 5 couples and their kids, except ours! As the night wore on we had a battle of the sexes playing charades, using words from Pictionary…For Kids! Hilarity ensued, as several Coors Lights and the thrill of competition will make adults do anything.
Sunday we slept in. Lori went to work as I went to open houses in Ephrata. We skipped our respective diet plans and went to Friendly’s in West Lawn. Then, I’m embarassed to say, we went driving through the twisting turning roads of Wernersville to find the Jon & Kate Gosselin house. We found it! Not a bad little shack. Makes you want to have sextuplets…almost.
Mortgage Re-Cap 8/3 – 8/7
A pretty good week for the nation’s economy as a whole meant bad news for mortgage rates. Existing home sales are up, unemployment is down and Cash For Clunkers jump starting the auto industry are all things pointing to putting the recession in the rear view mirror. I don’t believe it, but it is what it is.
30 year fixed conventional rates are up a quarter from the last week in July. It’ll take a full 3 points to get in the 4’s. No points is looking like upper 5’s. 6.0 seems to be the going rate on government loans.
I think rates will fall back in the next 2 weeks, I’m just not feeling the vibe of economic recovery. We’ll see. For a mortgage in Ephrata and anywhere in Lancaster County, be sure to check in with ol’ Brother Weems at Beacon Mortgage in Ephrata.