4-4-12 Mortgage Update & What is a 90 Day Flip and why is it important?

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We had a good read. For the benefit of yourself. Be sure to read to the end. I want you to get good knowledge from Mortgage Rates Forecast . Wow! Yesterday was a huge day for the bond market and in turn has affected rates. The FOMC (Federal Open Market Committee) minutes were released yesterday and the language bond traders were looking for were anything that would've alluded to QE3 (Quantitative Easing 3). Instead, the Feds hinted that they may raise rates prior to 2014 if the economy shows signs of improvement which is a given, but it was unexpected which sparked the sell-off. We have two more market moving reports coming out this week, Jobless claims on Thursday and Employment Situation on Friday. Based on the forecast there isn't anything significant that's expected. My position for this week is to 'Float'. Topic of the week: What is a 90 Day Flip and why is it important? This week I address what a 90 Day Flip is and why it's important especially if you're planning on obtaining financing for a home that falls into this category. Quote of the week: The follies which a man regrets most in his life are those which he didn't commit when he had the opportunity. - Helen Rowland I hope you have a great week and stay positive! Links: FOMC (Federal Open Market Committee) Minutes sparks a selloff in Treasury Bonds online.wsj.com Is the Housing Market Getting Better finance.yahoo.com Investors Are Looking to Buy Homes by the Thousands www.cnbc.com

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