Comments for Choice One Mortgage

Comment on Mortgage Rate Update by Bill Lewis

Bill Lewis — Wed, 22 Feb 2012 17:03:35 +0000

Rate Trend – LOWER

Our rate sheets improved slightly overnight, unwinding a bit from yesterday’s run up perhaps. So far, the news today out of Europe has helped pricing improve, but changes to rates are minimal. Trending lower right now.

Update 1:30pm – Continued improvement. Yesterday’s losses have been regained and lenders have repriced for the better.

Comment on Mortgage Rate Update by Bill Lewis

Bill Lewis — Tue, 21 Feb 2012 18:42:15 +0000

Rate Trend HIGHER.

Mortgage rates worsened today (meaning the cost for a given rate is a bit higher). “Good” news regarding the Greek bailout is driving bond markets in the wrong direction for mortgage rates. Effects have been minimal – so far.

2pm update – Rates are trending higher over the past few weeks. We are still at 3.999% with 0 points on the 30 yr fixed conventional/conforming program. If recent history repeats itself, this mini run up in rates will settle down and we will return to cheaper pricing. Remember, bad news here or abroad usually results in falling rates, and with the economic problems the world is still facing (not to mention Iran/Isreal/US tensions, rising oil/gas prices), it’s not unrealistic to think that rates should remain at these levels for the foreseeable future.

Comment on Mortgage Rate Update by Bill Lewis

Bill Lewis — Mon, 20 Feb 2012 19:26:02 +0000

Bond markets and lenders are closed Monday 2/20/12 for President’s Day.

Rate trend – HIGHER.

Here’s an excerpt from last Thursday’s Mortgage News Daily:

Mortgages Rates reversed a recent trend of gradual improvement, moving higher today after a better-than-expected read on employment from this morning’s Jobless Claims report as well as news that the ECB will swap out their Greek government bonds this weekend. 30yr Fixed Conventional Best-Execution Rates continue to operate in 3.875% territory on average, and the closing costs associated with those rates had been nearing the lower end of their historical range. While 3.875% Best-Execution remains intact today, the cost associated with obtaining them is higher on average.

Thursday’s Jobless Claims report showed 348k new claims this week versus an expectation of 365k. When data indicates that the labor market is faring somewhat better-than-expected, bond markets tend to move higher in yield (and rates get worse). It’s not always a linear relationship, but is generally true, and in line with the market’s reaction to the data. But the domestic economic situation is scarcely the biggest contributor to the current interest rate environment.

Concerns over the potential fallout and/or inability to contain the European debt crisis are the key factors keeping interest rates at historically low levels. While Treasuries are the direct beneficiaries of that turmoil, MBS (the “mortgage-backed-securities” that most directly influence mortgage rates) get to come along for the ride. Today’s news that the European Central Bank (ECB) would swap out its Greek bond holdings over the weekend basically amounts to an injection of capital into Greece’s balance sheet (read more about it HERE if you’re interested). A lower debt burden for Greece helps alleviate some of the fears of the aforementioned fallout. Since those fears are keeping rates lower, when the fears lessen, rates respond by moving higher.

Call me for rate updates and product pricing. I’m available to you 24/7! Thanks.

Comment on Testimonials by N.T.

N.T. — Mon, 13 Feb 2012 01:18:53 +0000

Bill was a complete gentleman and delivered on all his promises. He left no stone unturned and was as thorough and accommodating as you could imagine. He made refinancing painless and fast… with great savings!!!!

Comment on Testimonials by Tyler Wood

Tyler Wood — Tue, 07 Feb 2012 03:36:44 +0000

I’ve been in the business for 13 years and have done thousands of real estate transactions. Without a doubt, Bill (& Judi) at Choice One Mortgage is the best of the best when it comes to mortgage brokers. A real estate transaction is tough enough to get done these days. You need a great team in order to make the process go through. Bill is on top of everything, and constantly keeps all parties informed, something that is rarely done by his peers. I’ve found Bill to be honest, hard working, and great at communicating. I have confidently referred him to many clients, and have used him for my own financing needs as well. He is a true Pro!

Comment on Testimonials by Ed Lee

Ed Lee — Fri, 27 Jan 2012 22:20:08 +0000

We were referred to Choice One via our Realtor when we were purchasing our vacation property and couldn’t be more satisfied. We unexpectedly at the last minute had the deal go into a short sale that seemed to take forever, but due to the work of Bill and Judy – who ended up helping the seller who was in trouble as well, all came to a happy ending – on my birthday no less to close. Subsequently, as rates have fallen, we turned to Choice One to help us re-fi our main home and help us see the silver lining of the current economy and rates. Their advice & help have been invaluable and will use them again & again if we can :0)

Comment on Testimonials by M.L.

M.L. — Fri, 27 Jan 2012 17:37:14 +0000

Choice One is the only choice! Bill Lewis is great to work with.

Comment on Testimonials by V.C.

V.C. — Fri, 27 Jan 2012 02:04:43 +0000

Every time that I have had to finance or refinance my home mortgage, I go to Bill at Choice One first. I have yet to find someone that has better results or better advice than I have come to expect with Bill. I wish all my professionals were as highly reliable!

Comment on Testimonials by V.H.

V.H. — Fri, 20 Jan 2012 05:16:43 +0000

When we were considering refinancing our condo, we were (luckily!) referred to Bill Lewis. Bill was wonderful throughout the oftentimes, but not this time, overwhelming process! He clearly explained our options, secured a good rate, responded to inquiries immediately, and followed through every step of the way. We highly recommend Choice One Mortgage.

Comment on Testimonials by J.M.

J.M. — Mon, 10 Oct 2011 17:42:32 +0000

Bill did an amazing job of helping me to refinance my home. He was great to deal with, knowledgable and really knew how to work with the lenders. I will ( and have) recomended Bill to anyone seeking a home loan or a refi.