Forgive me for being lax with my blog entries.My computer geek told me not to do this or I will lose readers. I have been travelling most of the summer doing seminars on buying real estate and getting the right financing.I do not want my clients or seminar attendees becoming statistics in foreclosure numbers.

I feel like I am an evangelist or a missionary preaching the gospel. My truth is: reduce your risk on your housing.Do not buy bigger than you can afford, do not leverage out the full value of the home and please get a fixed interest rate.

I do not believe the numbers the media is presenting on foreclosures is correct. I think the market has inflated these numbers and somebody on Wall Street, or The Bund, is profiting highly from market swings. I am sure the market will rebound on some great news from the Administration.

One thing is certain; the mortgage rates went up last week and have not gone down with the 10 year bond yields as it should. I have not locked in one loan this week.We delayed three refinances and have not scheduled a purchase for next week yet.  I am waiting for the pop down in rates and hope to jump on it by Monday or Tuesday.

Don’t panic and don’t lock in your rates yet.

Happy Thursday.

Dale Siegel