Month: September 2013

National Ask A Stupid Question Day…..

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While today may be National Ask A Stupid Question Day, at Blue Stripe Mortgage, we feel that there is NO such thing as a stupid question! Navigating through today’s mortgage environment is difficult at best and sometimes you need some guidance. We are committed to your homeownership success and a big part of that means getting all of your mortgage related questions answered, yes, even the so called stupid ones. Please reach out to us with any of your mortgage questions as that is what we are here for.
Please feel free to give me a call any time at – 207-899-5354

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It’s not too late to Refinance….

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If you haven’t refinanced your mortgage recently, it’s important to act now.

With the Federal Reserve committed to reducing their bond buying, the future of mortgage interest rates is up.

Also Fannie Mae has announced changes that will make it tougher to get a mortgage starting November 16, 2013.

So if you have an Adjustable Rate Mortgage, a Home Equity Loan, a current rate of 5% or higher, or haven’t refinanced because your home value is lower than your mortgage, now is the time!

We offer a Free No-Obligation Mortgage Review to help you determine if you can benefit from doing a refinance today.
Please give us a call at – 207-899-5354 or 800-775-0965.

Some Fun Facts About Money. Did You Know…

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Currency is actually fabric composed of 25% linen and 75%cotton. Currency paper has tiny red and blue synthetic fibers of various lengths evenly distributed throughout the paper.

The dollar was officially adopted as our nation’s unit of currency in 1785.

The largest bill ever printed by the Bureau of Engraving and Printing was the $100,000 gold certificate.

The U.S. Secret Service was created during the Civil War to fight counterfeiting.

The motto “In God We Trust” did not appear on paper currency until 1963.

The largest note produced today is the $100 bill.

It costs approximately 6.4 cents per note to produce U.S. currency.

About 4,000 double folds (forward and backward) are required before a note will tear.

The average life of a Federal Reserve note depends upon its denomination:

$1 bill – 21 months
$5 bill – 16 months
$10 bill – 18 months
$20 bill – 2 years
$50 bill – 4.5 years
$100 bill – 7.5 years

If you or any one you know wants to refinance or needs to be pre-approved for their new home, please have them give me a call – 207-899-5354 or 800-775-0965 – Blue Stripe Mortgage.

Rates Dropping

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Rates may be dropping again…at least for now…

The Federal Reserve announced this afternoon that they will continue to purchase $85 Billion per month in Mortgage Backed Securities. This is welcome news for the bond market and as a result interest rates are heading back down today. The Fed Chairman did say that bond buying my start tapering later this year if the economy shows more signs of improvement.

A good take away from this announcement: we may be looking at another short window of lower interest rates. Those sitting on the fence should take notice as the time to refinance may be now and if you have been seriously thinking of purchasing a new home, your monthly payment could look better today than it has over this past month or two.

If you or any one you know wants to refinance or needs to be pre-approved for their new home, please have them give me a call – 207-899-5354 or 800-775-0965.

Another Success Story…

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With interest rates on their way back up, many home owners feel they have lost their opportunity to refinance. Just this week I helped a family combine their first and second mortgages into one new mortgage with a lower interest rate. Because of rising home values over the past few years they were also able to pull out some cash and pay off a few higher interest rate, credit cards as well as take care of a few home improvements. And finally, they are now able to put money into their rainy day fund, so they will be prepared the next time an emergency comes up. The best part of the refinance process, from start to finish in 22 days…

If you or any one you know wants to see how a refinance could help your financial situation, while rates are still low, please have them give me a call at 207-899-5354 or toll free at 800-775-0965.

Home Price Index

Home prices really move upward…

As you can see from the chart below, home prices increased at a fairly good pace from July of 2011 to July of 2012. But look at the unbelievable increase in home values form July of 2012 to July of 2013. If you are thinking about selling your home, this may be a perfect time. Interest rates are still low, the inventory of homes for sale is very low and your home could be worth a lot more than you think. Please let me know if I can give you a referral to a realtor to start the home selling process.

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