Good Day Everyone,
In overnight trading, all overseas markets are down considerably.
Dow is down another 160 following yesterdays drop off 200 points.
What is unusual is the fact that rates /bonds usually improve under these circumstances, yet the pressure on rates/ costs continues.
Total additional costs for a 150k loan since yesterday morning alone is yet another .50 or $750.00 today (for a total of $2250.00 additional cost for the same rate since yesterday a.m.)
Do not take your hands off of the safety bars on this roller coaster. Your sellers (while perhaps will not want to hear what they "need" to hear, will non-the less respect your ability to provide them with usual information to make "informed" decisions. Your buyers (if you are writing an offer at the top end of their approval range, may want to review or touch base with their lender to make sure that they are still in "range"...
Best,
Randy
Versatile Mortgage L.L.C.
620 Woodmere Ave Ste #B
Traverse City, Mi 49686
Randy Brown
Direct Line 231-933-0900
Randy@Versatilemortgagellc.com