Last Weeks Statistics



LISTINGS Residential (Single Family & Condo)
September 22-28, 2008 524
Last Year 669
September 14-20, 2008 170
Last Year 260

Interest Rate Update


It’s been a crazy week in the financial sector to say the least. Fortunately, mortgage interest rates have been able to maintain their levels.


All things are pointing to a move higher in MBS (mortgage backed securities) pricing which causes yields to drop which results in lower mortgage rates, but it appears investors are in a wait and see mode. Let’s hope investor’s make a move off the side lines and decide to play soon.

Here are today’s rates:

30 Year Fixed








No pts




15 Year Fixed








No pts




20 Year Fixed








No pts




30 YR Interest Only








No pts




Remember, I only charge a $495 processing fee. NO POINTS, NO Origination fees, NO Broker Fees.



Kurt S. Ehret

ELM Financial Services, llc

Mortgage Solutions

2301 Hurstbourne Village Dr. #600

Louisville, KY 40299

502-671-0408 ext. 222

502-671-0406 (fax)

New Mortgage Law Has Buyers Scrambling

Housing industry observers expect that prospective buyers will scramble to take advantage of seller-funded down-payment assistance before a federal ban on such programs takes effect on Oct. 1.

The federal housing bill signed into law in July sews up a loophole that allows nonprofit organizations to gift mortgage down payments, and industry experts believe markets that have relied heavily on the programs could see new-home sales cut by as much as half.

Seller-funded downpayment assistance has served as a surrogate for subprime loans in some ways and has helped builders put first-time and low-income buyers into new homes.

“We will eventually go back to the mind-set of a society where you have to have 3 percent up-front to buy a home,” says Phoenix real estate analyst Jim Belfiore.

Source: Poughkeepsie Journal (N.Y.) (08/18/08)

Statistics Not Looking Very Good



LISTINGS   Residential (Single Family & Condo)
August 25 – 31, 2008 560
Last year 674
August 17 – 23, 2008 198
Last year 325



LISTINGS   Residential (Single Family & Condo)
August 18 – 24 , 2008 704
Last year 696
August 10 – 16, 2008 230
Last year 329