I wanted to start off today's report by sharing a couple of websites I've bumped into the last couple of weeks that I think are really cool.  You may already have these two dialed in, but I thought of you when I found them.  Oh, and by the way, this is informational only...I'm not promoting these.  I just think they're cool.

The first is www.pandora.com.  Pandora is a free internet radio that lets you customize your radio stations based on specific songs or artists.  I like it because I can add a couple of my favorite songs and it will build the stations based off of those songs.

The other website is www.woot.com.  Woot is a discount site that sells only one item each day.  The deals are super good and they're typically items that have value to me.  Careful, this one can be addictive!! :)

One other item I got a chuckle out of this week.  Seems that since the American dollar is struggling in the world markets that the CIA has had to use other more 'progressive' means of currency to accomplish their goals.  You have GOT TO READ this!  http://news.bbc.co.uk/2/hi/americas/7800549.stm.  Hit me with a comment if you like or don't like the article.

As of right now here are today's rates.  Feel free to distribute this to anyone that you may think would be interested in this information.

Have a great day!!

Current Market Interest Rates:

30 Yr. Fixed: 5.125% (5.49% APR)

15 Yr. Fixed: 5.0% (5.34% APR)

FHA 30 Yr. Fixed 5.0% (5.54% APR)

IHA 30 Yr. Fixed: 4.88% (5.12% APR)

Assumptions: These rates are based on an assumption of at least 20% down payment (with exception of IHA which is 95% LTV), with a minimum FICO score of 700, and full income documentation.

Note: There are many different loan products/programs to fit nearly every client's needs. Each situation is unique to the individual, thus rates are subject to improve/worsen depending on the buyer's ability to meet qualification requirements. As you can see from the above rates, fixed rate products are much more advantageous than ARM products currently.

 Make it a great week!!

 Jason O.

Hopefully you're all bundled up because winter is officially here!! We've been wondering at the office why the weather hasn't kicked in earlier and assumed it's because Mother Nature was waiting for one of the Government bailout programs to come in and pay her more for doing her job. Apparently, something broke through because the snow unleashed on us yesterday and today has been coming down in full force.  Please be careful if you're planning on traveling this weekend!!

What's new with us at Legacy Lending?? Well, glad you asked.  We're taking advantage of giving you FREE information. We would like to be a portal to everyone who wants to know what's going on in the markets via different outlets. Here is how we are doing it:

First, we officially started our Legacy Lending Blog. You can visit it by clicking below :

http://www.idaholegacylending.com/blog.aspx

Come the first of the year watch our blog for FREE GIFTS for interaction.  We will be telling you more over the next few weeks on what we have going on but it will be BIG!!  We're just looking for some participation and some feedback.

Next, most of us have a Facebook account.  RIGHT?!?!  It's fun to keep in touch with family, friends and business associates. Please take a look-see and find me on there if you have an account. If you don't have an account set one up. Here is our company page, please join our page:

http://www.facebook.com/home.php#/pages/Idaho-Legacy-Lending/39384579626

We've also setup a financial question page on Facebook. We will be offering prized for linking us to your profile, making comments or even by just giving us Feedback.

Now for the real reason of our weekly report.  Although higher then last week, rates are still good right now.   They're the lowest they've been in several years.

As of right now here are today's rates.  Feel free to distribute this to anyone that you may think would be interested in this information.

Have a great day!!

Current Market Interest Rates:

30 Yr. Fixed: 5.5% (5.85% APR)

15 Yr. Fixed: 5.375% (5.72% APR)

FHA 30 Yr. Fixed 5.625% (5.92% APR)

IHA 30 Yr. Fixed: 5.375% (5.72% APR)

Assumptions: These rates are based on an assumption of at least 20% down payment (with exception of IHA which is 95% LTV), with a minimum FICO score of 700, and full income documentation.

Note: There are many different loan products/programs to fit nearly every client's needs. Each situation is unique to the individual, thus rates are subject to improve/worsen depending on the buyer's ability to meet qualification requirements. As you can see from the above rates, fixed rate products are much more advantageous than ARM products currently.

Please call me with any questions.

Stocks opened higher today after President Bush said he would give a $13.4 billion federal loan to the Big Three. The Dow Jones industrial average rose 1.2% shortly after the opening bell. The broader Standard & Poor's 500 advanced 1%, and the Nasdaq composite jumped 1.8%. With all the change the Market still ended -0.3%.

So what does this mean ?? Well, no one knows for sure. Hopefully with the stock's settling if nothing else it will settle peoples minds a little.

Mortgage TIP :

A little year-end attention to your mortgage could lower your upcoming Internal Revenue Service bill.

Unlike rent, which you pay beforehand (i.e., your Jan. 1 bill covers your stay in the rental unit for that coming month), your mortgage payments are made at the end of your occupancy period. That means your Jan. 1 mortgage statement represents interest for the month of December, making it a tax-break-eligible bill for this year.

By accelerating that payment even by just a day, you get an additional deduction for the interest paid. Talk to your accountant on specific details.

30 yr fixed mtg		5.27%
15 yr fixed mtg		5.23%
5/1 ARM		5.87%
30 yr fixed jumbo mtg		6.94%
5/1 jumbo ARM		5.94%

-Oscar T. Williamson II

I hope this post finds you in the festive holiday spirit!!  :)  With only 8 days left until the biggest US holiday I hope you're not as bad as I am and have at least started shopping!!

Couple of quick questions for you...does anyone know what a 401k is anymore???  The stock market has shown over the last 45 days that it does feel a little of the volatility that so many of us believed it had 'out grown' over the last several years.  We're talking to more and more people that are having to work longer into their lives because of the fear that the market won't rebound.  Here's an interesting article that you may want to read.  Apparently, the 'rich' (whatever THAT means) aren't immune to the problems.  Remember, long-term gains here...slow and steady.  (if you're unable to click the link just copy it to your browser's search bar)
Think the rich don't feel the pinch...think again!!! Click here to see.

The other question...sooo, have you ever thought that the day would come that it was safer to rent than to purchase a home?  Hmmm, me neither, but apparently Fannie Mae is giving us a safe haven in case you run out of places to live!!  :)  Maybe it's time to sell the house and start renting, huh?
Fannie Mae - The new biggest landlord???

Now for the real reason of our report.  Rates are SMOKING right now.  They're the lowest they've been in several years.  Today the FED will meet to decide if they can lower the FED funding rate.  Although this doesn't have a direct effect on interest rates it should bolster consumer confidence and may have an indirect ripple effect on the rates.  We'll see what happens over the next few hours.

As of right now here are today's rates.  Feel free to distribute this to anyone that you may think would be interested in this information.

Have a great day!!

Current Market Interest Rates:

30 Yr. Fixed: 5.0% (5.37% APR)

15 Yr. Fixed: 4.875% (5.17% APR)

FHA 30 Yr. Fixed 5.25% (5.49% APR)

IHA 30 Yr. Fixed: 5.00% (5.28% APR)

Assumptions: These rates are based on an assumption of at least 20% down payment (with exception of IHA which is 95% LTV), with a minimum FICO score of 700, and full income documentation.

Note: There are many different loan products/programs to fit nearly every client's needs. Each situation is unique to the individual, thus rates are subject to improve/worsen depending on the buyer's ability to meet qualification requirements. As you can see from the above rates, fixed rate products are much more advantageous than ARM products currently.

Please call me with any questions.

Jason Oswald
Legacy Financial Solutions, Inc.
(208) 888-9394