Date: 11/17/2008

Pending Home Sales Surge Program Rates APR

30 yr fixed 5.90 6.03
Pending home sales activity surged as buyers took 15 yr fixed 5.62 5.74
advantage of low home prices and affordable interest FHA 30 yr fixed 5.70 5.83
This Newsletter rates, according to the National Association of Real- VA 30 yr fixed 5.80 5.93
is brought to you by: tors. The Pending Home Sales Index, a forward- Rates are subject to good credit, 80%LTV (VA
looking indicator based on contracts signed in August, is 100% LTV) primary residence, Full Doc
loans, and may change at any time.
jumped 7.4 percent to 93.4 from an upwardly revised
Joe Matz reading of 87.0 in July, and is 8.8 percent higher than August 2007 when it stood at 85.8. The
Mortgage Banker index is at the highest level since June 2007 when it stood at 101.4.
JM Mortgage Team
Equity Services Inc. Lawrence Yun, NAR chief economist, says home buyers were responding to improved afforda-
PO Box 57 bility. “What we’re seeing is the momentum of people taking advantage of low home prices,
Sneads Ferry, NC with pending home sales up strongly in California, Nevada, Arizona, Florida, Rhode Island, and
28460 the Washington, D.C., region,” he says. “The improvement also reflects the drop in mortgage
P: 910/327-0306 interest rates after the government takeover of Freddie Mac and Fannie Mae. It’s unclear how
F: 910/953-0000 much contract activity may be impacted by the credit disruptions on Wall Street, but we’re
www.josephmatz.com hopeful most of the increase will translate into closed existing-home sales", adds Yun....

Source: The Wall Street Journal

Subscribe to my blog at www.josephmatz.com/myblog. Contact me with any question and for any mortgage needs that you may have.

superfluous. The best way to see what it is

All the World’s a Twitter about is to go to www.twitter.com. Click on
search at the bottom of the page. Then search
Are you a Twitterer? anything; news, weather, congress, nasa.

Twitter has grown 1,600% in the last year and See how real estate agents are using twitter.
may be poised for the main stream. Just search “home sales” or “real estate”.

Launched in July 2006, Twitter is social net-
working and micro-blogging site that allows
users to post their latest updates. An update is
limited by 140 characters and can be posted
and received through three methods: web
form, text message, or instant message.
Eight ways Twitter can change your life:
http://www.dantynan.com/2008/10/27/eight-
ways-twitter-will-change-your-life/
Great video on advanced Twitter techniques:
http://www.youtube.com/watch?
v=BIYfcUf1yEM

I “follow” (receive automatic updates) a mort-

gage specialist who keeps me up to date on
what mortgage rates are doing. But the uses
are limited only by your imagination.

Big and small news agencies have twitter

feeds, as do some members of congress. One
member has said he can instantly communi-
cate with his constituents on issues that are up
for vote and get feed back before the vote
takes place.

Of course a lot of “tweets” can be considered

Links are easier to follow from my Blog. Just go to www.josephmatz.com/myblog and you’ll find all the links mentioned here.