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		Roy Sperr Jason Walters and Shawn Hunter NMLS: 202418/295556/348864 Equity Source Mortgage, Inc. Phone: Roy (763) 657-2012 Phone: Shawn (763) 657-2017 Emails: roy@equitysourcemortgage.net roy@equitysourcemortgage.net www.equitysourcemortgage.com

September 2014 August 2014 July 2014 June 2014 May 2014 April 2014 March 2014		Refinances Outnumbering Purchase Loans In July, according to the Mortgage Bankers Association, more people submitted applications to refinance their existing home loans than those who applied for loans to buy homes. While applications to refinance increased, they were still 39 percent less than the same time one year ago. Meanwhile, purchase applications were down 14 percent from a year ago. Rates are Stable…For Now Oftentimes, global turmoil and political volatility steer investors and traders away from Stocks and toward traditionally "safer" assets, such as U.S. Treasuries and Mortgage Bonds—the latter to which home loan rates are tied. The greater effects of these market movements on home loan rates will be more apparent in coming weeks, as we learn the outcome of situations in Israel, Ukraine, and even in West Africa where the Ebola virus has spread to major city centers. One fact is that home lending guidelines are becoming less stringent, according to a survey conducted by the Federal Reserve, which indicated that about 40 percent of large banks reported easing lending standards for low-risk borrowers. While this may be confusing to anyone interested in buying a new home, or refinancing a current one, the best way to find out what loans are available to you is to speak to a home loan professional. Obtaining a pre-approval can also help with crunching some realistic monthly mortgage payment numbers, and prepare you for the next steps. The Bottom Line Home loan rates remain attractive and are near their lowest levels in months. If you would like to inquire about housing and home loans, please don't hesitate to contact me. I hope you enjoy this month's issue of YOU Magazine.

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Equity Source Mortgage, Inc. 19230 Evans St NW, Suite 100 Elk River, MN 55330

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