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August 11, 2011

Interest Rates are Incredible Right Now

I received the following e-mail from a long time partner of ours Brent Wilson of Comstock Mortgage.

He has been helping our clients finance properties for nearly a decade.

One of the great things about Brent is that he does not embelish things. So when he says rates are good, they are.

Here's what Brent had to say:

Greetings: 

 You’ve probably heard that mortgage rates have plummeted over the last week or so, and after checking the charts this morning, I’m fairly sure these are the lowest mortgage rates I’ve seen in my 21 years in the business.  Lower than the summer of 2003.  Lower than October 2010.  In fact, a conventional 30 year fixed rate at 3.875% actually appears as an option on our rate sheet, and 15 year rates are in the mid to high 3’s…. 

Why rates are this low is simply confounding.  Logic suggests that a deficit spending and money printing government who’s recently had its credit rating downgraded is typically not afforded lower borrowing costs.  After all, if a family  1)charges up their credit card bill to ridiculous levels, 2) has their credit line increased just to subsist, and 3), has their FICO score drop, are they usually entitled to a lower rate on their credit card?  ABSOLUTELY NOT!   But yet, here I sit, looking at the screens while wiping my eyes and shaking my head. 

Respectfully Yours, 

Brent Wilson 

Brent Wilson, CFP®

If you are a current client of ours, it is likely you have already had the chance to speak with Brent about a loan.

If you are not a client yet and you would like to speak with Brent about getting pre-qualified for a new loan, or about re-financing an existing loan, you can reach him at 916-765-0009 or on his website www.LoansDoneRight.com.

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