Get the Best Mortgage Rate
in Minnesota. It's our commitment to help
you know where you stand from the beginning on your
new
home purchase or
refinance. We want
your experience of selecting and obtaining a
mortgage to be as simple and hassle-free as possible
- with no unpleasant surprises.
That's why we make the following promises to you:
You'll get an accurate rate and cost quote up front
- and we will provide you with the following:
Upon receiving a
credit approval, you can lock in your interest rate,
discount points, and we will Guarantee the costs.
Because we are a
direct lender, we handle the entire loan process
from approval to closing. That means we can usually
approve you within minutes without any middlemen.
While we have a web site,
we are NOT a true online type
mortgage lender.
You'll receive the personal attention of a
dedicated, highly skilled, and
experienced Senior
Loan Officer, based right here in
Minneapolis, and who will serve you during the entire
process and provide you with proactive automated
loan status reports which are also easily accessible
online 24/7.
As a Lenders One partner, we are
part of the 3rd Largest Retail Mortgage
Originators in the country. We are consistently rated one of the top 25 lenders
in MN by Minneapolis St Paul Business Magazine.
The Metzler Group at Mortgages Unlimited 33 Wentworth Ave E #290, St Paul, MN 55118
Unfortunately, many
lenders - especially those you find on the Internet, PURPOSELY quote low to
capture your attention with no intention of ever actually
honoring their quote. We will NEVER do that to you - and we prove it with
our WRITTEN GUARANTEE.
RESPA, (The Real Estate
Settlement And Procedures Act) the law governing the
Good Faith Estimate officially states "It is only an estimate or range of charges. For
example, the lender may not know the costs for a settlement agent that you
choose, or the exact amount that will be collected for an escrow account for
taxes and insurance."
Furthermore, if your
costs are
HIGHER at closing than you expected, RESPA officially states that the law
does not give a consumer the right to sue if the
lender charges more. They only say "The best protection is to let the lender
and settlement agent know that you will want to see the
HUD-1 Settlement
Statement one day in advance. You should question any amount that you do not
understand."
Minneapolis, MN: So the Federal Reserve cut rates again. Many
mortgage applicants will be calling
their Loan Officer and expecting a lower interest rate, especially those
currently in process with a loan. Others who have been waiting to refinance
are puzzled as to why FIXED mortgage rates have not really moved lower. In
fact, FIXED mortgage rates are now almost exactly where they were before the
Fed began cutting rates. This is difficult to explain to many consumers who
have watched a reduction by the Fed with no benefit in mortgage rates.
Is a Fed rate cut really good news
for mortgage rates? The facts may be surprising. The Fed can only
control the Discount Rate and the Fed Funds Rate. This is very different
from mortgage rates. A mortgage rate can be in effect for 30-years, a rate
that is set by the Fed can change from one day to another.
Another common mistake is in thinking that
30-year Treasury bonds or 10-year Treasury notes are directly pegged to
mortgage rates.
Those are government securities that are
backed by the full faith and credit of the U.S. government and have no
direct effect on mortgage rates.
So what are
mortgage rates
based on?
As it turns out the answer is mortgage-backed bonds known as Mortgage Backed
Securities (MBS). Bonds issued by Fannie Mae and Freddie Mac (MBS) and the
trading performance of those bonds will determine the direction of mortgage
rates. Finding the catalyst that causes mortgage bonds to move will give you
the keys to finding out what makes mortgage rates rise or fall.
We
know that inflation will always be a negative for any long-term bond because
it eats away at the future returns. Since the bond will pay a set amount
over a long period of time, that amount will be less valuable if inflation
is high. Over the past several years, one catalyst that seems to be working
in the opposite direction of MBS prices is the Nasdaq and broader stock
market.
As bond prices rise, interest rates fall. As
bond prices fall, interest rates rise. The consistency of this behavior is
astounding.
As the Nasdaq moves higher, bond prices move
lower causing interest rates to rise. As the Nasdaq declines, mortgage bonds
benefit, causing mortgage rates to fall. Additionally, and unlike common
opinion, Fed rate cuts have had virtually no direct effect on mortgage
rates. Moreover, it appears that since Fed rate cuts act to stimulate the
Nasdaq, they have a negative effect on mortgage rates.
The bottom line is that it appears mortgage
rates will get better if the Nasdaq sells off and will get worse if the
Nasdaq rallies. So it is not necessarily what the Fed does that
affects mortgage rates, it's how the Nasdaq and broader stock market
interprets the Fed's action that will ultimately influence the direction of
mortgage rates. This is because money managers and mutual fund
companies typically keep funds in either stocks or bonds with very little in
cash. If stocks are in favor, money is pulled from bonds, causing bond
prices to drop and interest rates to rise. When stocks are being sold off,
the money is then parked into bonds, which improves bond prices and causes
interest rates to decline.
A closer look at the 3 rate cuts by the Fed in
2007 shows that mortgage bond prices deteriorated after each Fed rate
cut. This means that mortgage rates rose after the Fed had cut rates while
many consumers were expecting their mortgage rates to decline. Worse yet are
the consumers who missed the opportunity to obtain a lower rate because they
mistakenly waited for the anticipated Fed action to cut short-term rates,
thinking that longer-term mortgage rates would decline as a result.
Predicting the future is tough, so nothing is
written in stone. Keep an eye on the Nasdaq, and keep in mind that the best
rates may be behind us. But, mortgage rates are still low and could have
some quick dips so make the most of them while they last.
The bottom line? Make sure
you are working with an experienced, professional loan officer. The largest
financial transaction of your life is far too important to place into the
hands of someone who just quotes rates, but is not capable of advising you
properly and troubleshooting the issues that may arise along the way. More
than likely, this is one of the largest and most important financial
transactions you will ever make. You might do this only four or five times
in your entire life but we do this every single day. It's your home and your
future. It's our profession and our passion. We're ready to work for your
best interest.
RATES ARE GREAT. Don't gamble on it moving any lower.
Act Now! Contact your best
Minnesota Mortgage
Company choice today!
BestMortgageLoans.ws is an integral
part of
The
Metzler Mortgage Group's online network of
Internet Gateways designed to Save You Time & Effort locating
A
Buyer's Agent, A Seller's Agent,
the
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and the
Best Mortgage Loans
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BestMortgageLoans.ws is one of a number of
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One Stop Real Estate Savings Network. We think you will appreciate our
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You can check the Daily Mortgage Rate
Lock Advisory Here
You can Calculate to find out how much home you can afford
here We hope that you will
take a few minutes to bookmark this site and to read about our why we are the
best MortgageLoans and
Mortgage
Lenders for Minneapolis, St Paul, Madison, Milwaukee, and all of Minnesota and
Wisconsin. We
think you will benefit most if you start with a home search at
Best
Home Search where you can visit the One Stop Real Estate Resource Center that we
have set up for your County area.
For Your
Mortgage
Loan Information - You may already know that it is wise to first search for the
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mortgage
lenders, and the
mortgage programs available
and get pre-approved for your
mortgage
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Getting your finances in order
and getting approved
first will put you in a much better negotiating position when you make an offer
on just about any residential property of interest.
If you are serious about
securing a mortgage loan
for the smooth purchase of a home or other real estate then our network of
lenders should be able to save you time and effort, while helping to direct you
through a smooth home buying transaction. We have access to
hundreds of loan programs and should be able to find one to meet your specific
needs.
says: "If you have decided to sell your home, chances are you will be caught
up in a host of emotions. You may be looking forward to moving up to a dream
house or facing the uncertainty of a major move across country. You may be
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Everything you may ever need to
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We
know that inflation will always be a negative for any long-term bond because
it eats away at the future returns. Since the bond will pay a set amount
over a long period of time, that amount will be less valuable if inflation
is high. Over the past several years, one catalyst that seems to be working
in the opposite direction of MBS prices is the Nasdaq and broader stock
market.
1) Real time
decision on your loan request
While we have a web site,
we are NOT a true
Rates and
Fees are Low & REAL