Rates
Well just when we thought rates were on their way up, someone talks, just 1 person, and 1 person only spoke, and it caused bond traders to pause and rates to improve this week.
Who is that 1 person, Janet Yellen, if you haven’t heard of her, you will. She is the replacement for Fed Chairman Bernanke.
She basically came out and said that she is going to continue with the tradition of QE3, and hinted that she may continue it longer.
Before the Fed hinted around a 6.5% unemployment rate, but not there is a hint of 5.5% unemployment rate.
In my opinion, I don’t think we will EVER see a 5.5% again, but that is just me.
So after last Friday extreme sell off, where we saw interest rate jump ½ of a point in 1 day, we had some pull back this week, that erased some of that rate jump.
We now have a pretty defined level of trading for the last 2 months, with rates stabilizing in the 4.00% to 4.50% range on conventional financing, and the 3.75 to 4.25% range for Government loans.
Most of the economic news this week show economy improving, which typically would hurt rates, but Ms. Yellen’s comments quelled most of this.
Back to a neutral stance for locking, but I think if you can lock a loan, conventional, anywhere under 4.25%, take it! And any government loan under 4.00% TAKE IT. I just don’t see rates improving much under those numbers.
And please keep in mind, eventually the Fed will take the Crack away from the Interest Rate Junky, and rates will increase…repeat after me: “6% is not a bad interest rate”
Signature lines Tips!
I have been noticing lately that many Realtors do not have a good signature line in their emails, and furthermore, they do not have a signature line in their emails when sent from their iPhones and iPad.
Signature lines are extremely important:
1-They personalize the email, so it is just not “sent from iPhone”
2-Your signature lines is an advertisement.
3-Your signature lines is how people know how to get back with you.
Here is a great web site for Signature Manners: http://www.netmanners.com/671/dos-and-donts-of-signature-file-use/
And don’t forget to change your signature on your IPhone, IPad, smart phone, smart tablet or anywhere you send email from.
Marketing tip of the week:
Circuit Breaker on Idaho Property Tax.
Did you know, some people in Idaho are eligible to and additional property tax break above the Home Owner’s exemption!
So, it is time to call your clients and remind them that they could be eligible for the Idaho Circuit Breaker: Link Here: http://tax.idaho.gov/i-1052.cfm
This is a GREAT way to help past clients get educated about this program and also ask for referrals!
Try it! It works for ME!!!!