Thursday, June 17, 2010

Regions Bank Fernandina Beach Update

From the desk of Alan Vanderheiden
Senior Mortgage Advisor
Regions Mortgage
1409 Sadler Road
Fernandina Beach, FL 32034
904-277-3232 (office) 904-335-0500 (cell) 904-277-2261 (fax)

June 17, 2010

FNMA 30 Year Fixed: 4.75%
FNMA 15 Year Fixed: 4.00%
USDA / FHA / VA: 4.75%

Hello Friends,

Looks like the “summer sizzle” has begun……

Have you noticed mortgage rates lately? They are once again approaching historic lows. In fact presently we are seeing the best pricing of the year. So what is causing rates to remain this low?

A few things are working in our favor. One is unemployment. We still have millions of able bodied workers looking for jobs. Colleges and Universities have just graduated thousands of co-eds that are now looking for work. Did you know that our economy would need to hire 125,000 per month just to keep up with the graduates coming out of higher education? Until we can put folks back to work where they will earn money to spend the sluggish economy will continue.

Also, the economic crisis in Europe has hurt world wide markets. In the US recently, institutional investors have pulled money from Wall Street and moved it to the safe haven of bonds. This has pushed bond yields highs keeping mortgage rates down.

Inflation is still on the distant horizon and is not affecting our economy…..yet.

The first time homebuyer tax credit has been extended to September 30 for those buyers who have a contract as of April 30. Approximately 180,000 homeowners would miss the current June 30 deadline for closing….many due to lengthy short sales transaction. Yipppiee.

Did you know that for every dollar Regions lends we have $0.99 in depository assets? Regions’ is very solid and very well positioned to lend.

Please let me know how I can help you. See you soon.

See you soon.

John Holbrook - Realtor Amelia Island, Fernandina Beach & Yulee, FloridaCell: 904-415-0171 Email: Web: