Jobs Report lower than Expected, Amazon Effect?

Jobs: Marchs job report was 98k which was less than the 140k predicted, what does that mean?  Well for one day the jobs outlook in the USA doesn’t look as good as most thought, that’s the bad news, the good news is mortgage interest rates went down a bit this week, nothing dramatic but still good news.   What I find interesting in the jobs report is something I have been talking about for a while, retail jobs continue to be cut, the clothing stores, the big box stores, the shoe stores, all can’t seem to compete in the new Amazon world we live in.  The question is, will a job in a Amazon warehouse be equal pay to the jobs that are being lost?  If you have a thought on this please call The Townstone Financial Show on AM 560 The Answer 1 p.m. to 2 p.m. this Saturday 312-642-5600.

What’s the Prime Interest Rate-currently its 4%.  So if you have a home equity line at prime plus something its 4% plus whatever that figure is.

How much do you need for down payment to purchase a home? First of all the entire down payment can be in the form of a gift so you don’t need any of your own money. Second, we currently have a 1% down payment program available, restrictions apply so give me a call at 312-896-2110 to go over the parameters. You can also use a parent or friend to help you qualify for the loan; it’s called a non-occupying co-borrower.

Purchase Market:  Thinking of purchasing a property this summer?  Now is the time to have Townstone run your credit, review your financial situation and plan for the purchase.  The call is free and so is our time.  1 to 10 points on a credit report can mean significant savings on your interest rate and closing costs.  Let Townstone get you on track EARLY rather than 30 or 60 days before the purchase.

I am re-running this from last week because I received a lot of comments about it:  By the way, interest rates were slightly lower this week, probably due to the lack action occurring in Washington, DC.

No Closing Cost Refinance:  We do no closing cost refinances almost every day and it’s almost always one of our options when presenting you with ideas on what to do.  Give us a call to find out about our no closing cost refinance options.   As a former bond trader I can say one thing with great certainty, nobody knows what is going to happen long term with interest rates.  But right now, if you are one of those people with an interest rate in the high 4% range or HIGHER on a 30 year fixed or over 4% on a 15 year fixed it’s time to refinance.  Yes, you missed the lows in 2016 but there is still time to save money, so go to townstone.com fill out the short app or call me at 312-896-2110, stop procrastinating before it’s too late!
Barry’s tip of the week:  If you are bidding on a home right now, it’s best to give your best offer as the first offer.
Real Estate Attorney:  Do not conduct a real estate transaction without a real estate attorney.  The best one we know is Frank Pellegrini who is also the owner of Prairie Title where Townstone does a great majority of our refinances.  Frank can be reached at 708-386-7900, he is a great resource for all types of real estate transactions, trusts, commercial closings as well as residential.
Find a Realtor:  Townstone can help get you find a Realtor, qualify you for the mortgage and get the deal closed in a timely fashion so that the entire process is smooth.  I guarantee we can help and I own the company.  So send me an email barrys@townstone.com and we can get started.
Renting?  Current home too small? Get prequalified now for a new home purchase, today is one of the best times to purchase a home since the 2008.  Guidelines have expanded, rates are low and homes are appreciating, so give us a call at 312-896-2110, if you are a first time home buyer we will hold your hand throughout the process.  If you are buying your second or third home we will show you the Townstone Touch, which means a hassle free, no nonsense process, with an on time closing.