Please don't  miss out on one of the best times to refinance

Mortgage Rates Heading Lower

It's official: The Fed is now in their second phase of Quantitative Easing (QE).

All in all what this means is that Mortgage Rates have headed lower and are going lower still. 

The Refinance Bells are ringing

Now is the time to float your rates and get your paperwork prepared for the sweet spot soon to come. Want to know how much your home is worth before you Refinance?

Click here for my FREE and Quick Home Value Calculator:

www.RefiSD.com

Until next week…

Kirk Bonham – The San Diego Loan Expert

kbonham2@gmail.com – 619.990.9283

Mortgage Rates…

Ended last week approximately an eighth of a percent lower than where it began.

A few reasons can be attributed to this change: Housing Prices, The Economy, and one sparkling commodity – GOLD.

Our "Gold at the End of the Rainbow"

The Fed reiterated that the Fed Funds Rate will remain low (a.k.a. Mortgage Rates remain low) for an "extended period" of time, due to apparent Economic conditions. We continue to see precious metals like Gold be used as a hedge against a weakening U.S. Dollar.

Everything here is tied to our Bonds, Treasuries and The 10-Year Note, which is what all Mortgage Rates are based on.

The Fed's has jumped in giving what is called Quantitative Easing to the economy during times like this (QE for short). What this mainly does, is cause the U.S. Dollar to weaken. The way that Gold is being used is a direct reflection on QE.

The Fed also gave a statement hinting to the fact that things just aren't going to be getting any better – for now.

Here's the Breakdown:

• If the Economy improved, Stocks would go up.
• If Stocks went up, there would be no need for QE.
• The "extended period of time" means that we simply aren't seeing improvement in the near future.

                  =

Mortgage Rates are dropping.

Fall has just began and the time to stop just "thinking about" Refinancing is now. Find out how much money you could be saving instantly by using my FREE and Quick Refinance Calculator:

www.RefiSD.com

Not sure how much your home is worth before you get started? Click here to use the Home Value Wizard:

http://www.sandiegoloanhouse.com/forms/homeValueWizard.html

Want me to run the numbers for you? Give me a call for a free, no hassle consultation.

Kirk Bonham – The San Diego Loan Expert

kbonham2@gmail.com – 619.990.9283

Delicias in Rancho Santa Fe

Unmistakably Rancho Santa Fe's style of dining. Check them out online: http://www.deliciasrestaurant.com/home.html

It's no news that Home Prices everywhere have decreased dramatically. This holds true for the higher-end neighborhoods as well.

The Recession holds no favor to ANY community.

But what I see here is a recipe for opportunity, and I'll tell you why

Who wouldn't love to live in a home that's a little bigger, a little nicer, a little closer to the beach – choose your flavor. It's the classic American dream.

In neighborhoods like this one here in Rancho Santa Fe, those who were previously unable to afford living here are now finding themselves in a different position. Home Prices are down, and Mortgage Rates are at all-time lows.

And who doesn't like to look for the next good "deal"? Here's yours…

You could be paying just $3,500 a month on a loan size of $1 Million dollars! Or, on a loan size of $1.5 Million you could be paying right around $5100 a month. I can't stress enough how unheard of these kinds of prices are!

Those who can get themselves in this position now will be very thankful later. Because when home prices and Mortgage Rates go up again (which they certainly will someday), then this kind of opportunity might not happen again in your lifetime.

Follow me on Facebook and Twitter, or send me an email to find out when the right time is to Lock Your Rate. The most important thing here, is that it's all about timing! You must be picky!

The San Diego Loan Expert – Kirk Bonham

kbonham2@gmail.com – 619.990.9283

A Bright Day For Interest Rates

As of today, the 10-Year Note has dropped 23 basis points in 3 days!

Here is the situation at hand:

The Fed is concerned about the high unemployment rate for any future growth. The U.S. currently has soaring trade deficits with 70 different countries – a record high. 

Also, people generally buy Gold as a hedge against inflation, but lately Traders are buying due to their fear coming from headline news showing banking trouble and rising trade deficits!

All signs lead to more slowing economic growth.

The Fed has been buying bonds, but we will still need more stimulus to recover from this fiscal climate. We have too many unresolved issues with our Economy for the Fed to raise Mortgage Rates anytime soon

Another Round of Low Rates are Coming…

Refinance Boom is coming ten-fold and I predict that the Fed will continue to buy Treasuries and Mortgages for a long time to come!

There will be ups and downs with getting a Mortgage, which is why you want time to lock your Rate at the precise time. I have saved thousands of dollars for my clients by getting very picky and meticulous about the day that I lock your Rates. On my part, a lot of homework is done by watching the Financial Markets for the past 25 years, giving you the extra edge by working with my team and I.

Don't you dare throw away your money paying closing costs or points!

History Repeats Itself

I have been right in the past, even when San Diego's own Graham Ledger of Channel 8 News thought I was crazy to say that Mortgage Rates would go as low as 5.0% APR (back in April of 2000). Take a look at where we are today and what I have been telling you all along!

The mother of all perfect storms for Lower Rates is on the horizon. You will be surprised at how fast the wind can change directions…

Your San Diego Loan Expert – Kirk Bonham

kbonham2@gmail.com – 619.990.9283

Live From The Fish Market in Solana Beach

Another one of my favorite lunch spots here. Check out the video below!

Not much has changed in the last week as far as Mortgage Rates are concerened. Some say that Mortgage Rates are heading up from here on out, but that's not what I believe…

In the Stock Markets, we are still in a trading range, meaning that there in plentiful room for fluctuation.

What is happening is that the Government is buying more U.S. Bonds – a safe haven for traders during this economic climate – leading Mortgage Rates to do nothing else but decrease.

We may have seen a slight increase in the last few days, but it won't hold steady for long.

Stay tuned, I'll be happy to be the first in San Diego to report the Lowest Mortgage Rates yet in history.

Until next time,

Kirk Bonham – The San Diego Loan Expert

kbonham2@gmail.com – 619.990.9283

And takes a stop by – where else – George's at the Cove

Cheers to you George!

Blast From The Past

Mortgage Rates are going to drop further.

My humble opinion is this

Kirk Bonham, The San Diego Loan Expert

Let's Talk Recession

That dreadful word that we've all become more comfortable saying.

Some of the most obvious signs of Recession are the bad ones…which are also some of the most common.

Here in San Diego we've seen many people lose jobs, lose assets, even lose their homes. Forclosures have increased and while value of our homes have decreased. Generally, things have just gotten a lot more expensive!

But not all hope is lost. There are a few key factors that are important and beneficial to us right now. We can start by looking at all the "deals" that merchants are giving us in promos and coupons. Especially with the rise of companies like www.LivingSocial.com or www.Groupon.com have been pretty important in stimulating buyers in local communities.

Most of the deals on www.Groupon.com have been a savings of more than 50% off! Now if that's not incentive, I don't know what is!

So with this collective mindset of getting more out of every dollar coupled with adding value and incentives to your spending, our Economy has given us a much greater gift – on a much grander scale.

Lenders have had no choice but to Lower Mortgage Rates and Interest Rates. Mortgage Rates are 100% directly tied to our U.S. Treasury 10-Year Bond. When that drops, so do Mortgage Rates.

It has been a rare occasion in history to have seen our 10-Year Bond in the 3% Range like it was about a month or so ago. This was when Mortgage Rates were in the mid to high 4% APR Range.

Today, The 10-Year Bond ended in the Stocks at 2.499%.

THIS MEANS: Mortgage Rates are at Historic Lows. I'm talking 4.325% APR in most cases.

In a Recession, there is always a way out and there is always an option for a stimulus.

This is ours.

Mortgage Rates vary from person to person depending on the situation. To find out what the exact Mortgage Rate could be for you to Refinance your old Mortgage, click on my Rate Tracker below. It is done in just seconds online:

http://www.sandiegoloanhouse.com/forms/rateTracker.html

In our struggling economic times, doing a Refinance is one of the most VALUABLE decisions that you could make. A few days ago, I saved a lady over $1,000 every single month.

To find out what your Monthly Mortgage Payments could be, try my Mortgage Calculator and play around with the numbers:

http://www.sandiegoloanhouse.com/mortgageLoanCalc.html

If you want to ask me direct, I encourage you to give me a call or send me an email so I can run the numbers per your exact situation.

Kirk Bonham, The San Diego Loan Expert

619.990.9283 – kbonham2@gmail.com

It's Nice to Be Right

Not for my sake, but for the consumers and my own clients.

So I took a look back in the archives of some old blogs, curious as to when and what my exact predictions were. If you've been following my blogs for any amount of time now, then it might sound familiar to you that I've said that San Diego Mortgage Rates and APR Rates had not hit their lowest-lows yet.

Here's an example: June 29th

I said that I believed that lower Mortgage Rates will show up in the second half of this year, and that we will see the U.S. Treasury 10-Year-Note (what all Mortgage Rates are based on) head through and lower than the 3% range.

On that day, the 10-Year was at 3.02%, which is still historically low.

And then on July 12th…

The 10-Year Note was at 3% flat – a number that I had been anticipating to see in the near future.

Keep in mind, the Lower Mortgage Rates that we have been seeing are a result of the decline in the 10-Year Note. Mortgage and Interest Rates have dropped accordingly.

Now here we are, August 24th, 2010. Before you scroll down, wanna take a guess at how low the U.S. Treasury 10-Year Bond is at right now? You might not believe it…

2.499%

And only yesterday, it closed at 2.61%.

What this means is that Mortgage APR Rates are now in the Mid-to-low 4% Range….and are going lower than ever before.

You can trust the facts when considering buying a home in San Diego or (better yet) a Refinance for your Old San DiegoMortgage. Your finances are in good hands here.

To find out what your Monthly Mortgage Payment could be, use my Mortgage Calculator by clicking here:

http://www.sandiegoloanhouse.com/mortgageLoanCalc.html

I'll leave you off with one last prediction: On June 29th, I stated in my blog that I believe that the 30-Year Fixed Rate for a Conforming Loan will go to 4.25%. We're almost there right now. Let's see how long it takes until that happens.

Get your Refinance Started quickly right here, without going through the lengthy Form. It takes less than 5 minutes:

http://www.sandiegoloanhouse.com/forms/refinanceAdvisor.html

Enjoy the Hot Weather and these Low Mortgage Rates! Until Next time, you heard it here FIRST!

Kirk Bonham, The San Diego Loan Expert

kbonham2@gmail.com – 619.990.9283