Hello! I'm David Beadle, here is what's happening from RateAlertNow.com.

Whether you are a first-time home buyer or an experienced hand at refinancing your mortgage, the purpose of the RateAlertNow System is to provide you with the real-time interest rate information you need throughout the day to either float your rate when rates are heading lower or lock your rate before it heads higher.

This ability to save money by locking before higher rates are posted by your lender is possible because believe it or not telephone is still the primary method employed in the mortgage industry to set home loan rates.

The chain of events which leads to higher mortgage rates typically follows a predictable pattern.

First, something happens which prompts investors to begin selling a portion of their portfolio of home loans. The actual trigger doesn't really matter, in fact, it can be psychological in nature. This selling can quickly escalate and as it does so, other investors on the buy side demand a higher rate to purchase the home loans, when this happens I will send a text message to your standard email account or via email to your text-enabled wireless communications device.

While you are wondering whether to lock or continue floating, wholesale mortgage companies throughout the USA will also get word of the trading activity and managers in their rate lock departments may hold urgent meetings to decide if a rate hike is warranted.

They may look at several factors including how many loans there are still floating. The magnitude of the current rate increase, and whether rates will keep going up or turn around quickly and come back down again.

If the decision is made to hike rates, the password protective wholesaler's website will be rapidly updated with the new rate-point combinations. That's what's happening I am David Beadle.

For full details on my Real-Time Mortgage Red Alerts service to help you beat the system. Visit redalertnow.com and check back there every business day for my latest mortgage rate update.







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