What’s up with Mortgage Interest Rates?

This past week the Federal Reserve Board passed a .5 percent reduction in short term rates. Many people were expecting to see long term mortgage rates decline as well, however mortgage rates actually climbed slightly higher! Why?

The short term rates set by the Federal Reserve Board have no direct  correlation to long term mortgage rates.  In fact, typically a reduction in short term rates spur consumer confidence causing the financial markets to climb (i.e. Nasdaq, S&P 500).  As the Nasdaq and Financial markets improve, upward pressure is applied to long term mortgage interest rates; thus it isn’t necessarily what the Fed does that affects mortgage rates, but what the financial markets interpret the Feds actions to mean that ultimately influence whether the rates go up or down.

Mortgage Rates as of September 25, 2007

Type:                                            Rate:         Term: 

Conventional Fixed                     6.125         15 year

                                                   6.25           20 year

                                                   6.375         30 year

Adjustable (ARM)        3/1        5.875          15-30

                                   5/1        6.0              10-30

                                  7/1         6.25           10-30

To use our Mortgage Calculator Tool please click here: Team Tappe Tools

 Sincerely,

Sean Osborn

Team Tappe – President

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Is a Blog: Fun, Work or an Addiction?

 

Is a Blog: Fun, Work or

 

an Addiction?

This is my first blog that I have set up and actually written  (I’ve attempted writing before, well you can guess the results!).  Blogging  seems the thing or place to be now, so I thought I would ask your opinions, challenges and tips or hints so that I can get an idea of what I’m in for!?

I’ve attended seminars as well as conference calls on blogging and where to start, what to write on, use of pictures and videos, plus so much more.  I guess I’m not really looking for that insight, I am looking at what people enjoy about blogging or dislike!  Do you or can you actually get “addicted” to blogging as I’ve heard others comment on?   Is it like text messaging in that respect?  Another way to communicate with others who are like you???

Thank you for any insight and advice you can give me and have a great day!

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Welcome to Our Blog!

I would personally like to Welcome you to Team Tappe Talk! This blog is Team Tappe’s latest tool for keeping you, our valued customers, clients and friends informed about the Local Real Estate Market! My hope is that you will not only find our Blog informational, but even at times motivational! We are looking forward to your comments and questions about the material we post here on Team Tappe Talk. Again, I would like to thank you for your support and please enjoy our new Blog.

 Sincerely,

Sean R. Osborn

Team Tappe – President

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