Crazy though it may seem, our economy is recovering and in an upswing.  I know it is hard to believe with the unemployment numbers being at almost 10% and foreclosures being at an all time high but we are riding it out and slowly but surely we are headed in the right direction.  Keep you eye on the Retail numbers that will be out on Tuesday.  We believe they will be a bit worse than expected which will affect the Bond Market therefore lowering mortgage rates.  We shall see.  I will keep you posted. 

The Mortgage Industry is continually changing and this is on a daily basis.  There are new programs and guidelines that come out almost everday and usually make it a bit more difficult to get loans through.  So we make adjustments to allow borrowers to qualify for loans.  This usually involves a lot more patience on both the Mortgage Broker and the borrower.  It also means that if you are dealing with a purchase, it is more important than ever to have a great team working with you.  This means a Realtor and Mortgage professional working with the borrower to be a great team!  Loan turnaround times are exceptionally long these days.  What was a 30 day loan close is now minimum of 45 days. 

The most important part of my job now is to educate my borrower to what is happening in our industry and how it affects them.  This is not a bad thing but a good thing.  Education is a good thing but will take more patience on all of our parts.  We are still refinancing and still buying homes.  THIS IS GOOD NEWS!!  Let’s all remain positive and work together and we shall overcome!.

Have a great week.