Welcome to Clarion Mortgage Capital.
Thank you for visiting my online loan origination center!
Service Integrity Technology
Today's technology is providing a more productive environment to work in. For example, through my Web Site you can submit a complete online secure loan application, pre-qualify for a home loan or you can request an update on your loan in process.
These tools have allowed me to provide a higher level of service to my clients who utilize the Internet in their daily lives. By applying online, your application is received immediately! I will be notified by email and be prompted to return to our secure server to retrieve your application. This will enable me to start processing your loan today!
However, if you prefer, I can be reached by phone, and can obtain the best financing for your specific situation. Please feel free to call me at your convenience.
Thanks again for your visit today!
Clarion Mortgage Capital is a licensed California Department of Real Estate Broker license #01245811
--Fixed Rates - Adjustable Rates - Interest Only Loans- Low Cost and NO COST* loans--
(There is really no such thing as a no cost loan, but I will review the options with you to see what makes the most sense for your specific situation)
Loan Modification information available NOW. If you are late on your mortgage or struggling to make your payments, please contact me. If you have little or no equity and can not refinance to a lower rate or payment we may be able to help.
Rates were in the high 4% to low 5's range, but this may not last, in fact rates have moved up significantly this week...........there are reasons the rates are where they are today, and with a real possibility of inflation, or lack of government intervention, rates could rise rapidly. Do you know why rates are where they are and where they might be headed??????? Contact me and we can review the most current market forces. There are some very real and serious factors causing dramatic impact on the market..........
Market up date 5-13-09
Mortgage backed securities (MBS) managed to have a decent rally yesterday following treasuries to lower yields. In total, MBS improved by over a half a point which allowed lenders to reprice for the better. Most lenders improved pricing by about .25 in discount, but did not pass along all of the gains. What that means is if a certain mortgage rate was costing 1 point, after the reprice it would only cost you .75 points. The bigger winner yesterday was US treasuries. The benchmark 10 year treasury improved by a full point which moved the yield they pay from a opening high yield of 3.30 to close under 3.20. The current trend of MBS following treasuries to a lesser extent appears to be continuing. Meaning, when treasuries improve, MBS should also improve but not by as much.
After a steady trend of improvement yesterday, MBS are trading in a choppy fashion this morning following the release of the trade balance numbers. The Department of Commerce reported that the US trade deficit widened from last month to -$27.6 billion which is in line with most economists’ expectations. US exports fell by 2.4% while our imports fell by 1.0%. It appears that the worldwide recession is lessening the demand for US exports, which is not good news for our economy. After the report was released, MBS moved off the lows of the day and are currently trading slightly lower that yesterday’s close.
No other significant reports will be released today, but tomorrow the week starts to heat up with economic data that historically has moved the markets. You can check out my blog from yesterday, I suspect that today’s trading action will take direction from the stock market. A rally in equities could lead to investors selling lower yielding fixed income investments such as MBS and treasuries, to free up cash to invest in higher yielding stocks. Currently, the dow is near unchanged levels while the benchmark 10 year treasury note is trading at a yield of 3.18.
Most lenders should offer 4.625% to 4.875% as the par interest rate for a 30 year conventional rate mortgage for the best qualified consumers. Early reports show some lenders offering incentives for consumers with FICO scores over 740 and loan to values under 60% which is pegging 4.5% as the par interest rate. Consumers with lower FICO scores will have to pay higher fees to secure the lowest mortgage rates, or can elect to take a higher interest rate.
