Thursday, December 18, 2008


Merry Christmas from InSight Mortgage Group. We pray your season is filled with Joy, Hope & Love!

The Christmas Story!
And while they were there, the time came for her baby to be born. She gave birth to her first child, a son. She wrapped him snugly in strips of cloth and laid him in a manger, because there was no lodging available for them.

That night there were shepherds staying in the fields nearby, guarding their flocks of sheep. Suddenly, an angel of the Lord appeared among them, and the radiance of the Lord’s glory surrounded them. They were terrified, but the angel reassured them. “Don’t be afraid!” he said. “I bring you good news that will bring great joy to all people. The Savior—yes, the Messiah, the Lord—has been born today in Bethlehem, the city of David! And you will recognize him by this sign: You will find a baby wrapped snugly in strips of cloth, lying in a manger.”

Suddenly, the angel was joined by a vast host of others—the armies of heaven—praising God and saying,

“Glory to God in highest heaven,
and peace on earth to those with whom God is pleased.”

When the angels had returned to heaven, the shepherds said to each other, “Let’s go to Bethlehem! Let’s see this thing that has happened, which the Lord has told us about.” They hurried to the village and found Mary and Joseph. And there was the baby, lying in the manger. After seeing him, the shepherds told everyone what had happened and what the angel had said to them about this child. All who heard the shepherds’ story were astonished, but Mary kept all these things in her heart and thought about them often. The shepherds went back to their flocks, glorifying and praising God for all they had heard and seen. It was just as the angel had told them.

John 3:16, For God loved the world so much that he gave his one and only Son, so that everyone who believes in him will not perish but have eternal life.

Please call or email, michele@ if we can help you with any questions you might have or for a review of your home financing needs. We are here to help you make sound choices and connect you to folks who can help you with your spending plans as well as ways to improve your credit!

Blessings galore!

Michele Cole


Tuesday, December 9, 2008


Fence sitting can be painful—don’t wait too long!

I imagine you’ve heard or read about the 4.5% mortgage rate thing being promoted by the government. The Treasury Department is being lobbied hard to consider a plan to purchase mortgage-backed securities with the hopes of driving mortgage rates down to possibly 4.5%, reported an industry source.

Wednesday (12/3): A story is “leaked” regarding the Treasury Department lowering mortgage rates to 4.5%
Thursday (12/4): That headline leads the news
Friday (12/5): 40+ Million American homeowners sit on the fence and Consider “Should I refinance today or wait for
something better?

The most obvious consideration is if the rates are low today, take advantage of it now! Because they may not be low tomorrow, or even 4 hours from now. Mortgage rates could fall a bit tomorrow – or not—so why take a chance? Refinance at today’s low rates, and if rates fall again in the future, you can refinance again. A wise move is to lock up your savings today!

Details of the plan remain vague at this time; each article specifically stated that there were no facts – just speculation. The plan appears to be similar to the move made recently by the Fed, in which securities backed by 30-year fixed rate mortgages would be purchased from Fannie Mae and Freddie Mac. Spokespeople from the Treasury Department and the Federal Housing Finance Agency are declining to comment on the proposed plan.

Mortgage rates dropped sharply, from 6.06% a week earlier to 5.5%, after the Fed’s announcement. The Mortgage Bankers Association said mortgage applications more than doubled as a result, with a majority of the business in the refinance sector.

An increased demand for mortgage-backed securities prompts mortgage rates to drop. In turn, homeowners can then refinance into lower-cost loans and it also makes it cheaper for potential buyers to get into the market. This move would help buyers and current homeowners with good credit, says industry experts, but would not provide much help to troubled borrowers.

Experts weigh the positives and negatives

This potential move by the Treasury has prompted mixed views on how much homeowners and the economy would benefit. Lower rates could help stabilize the housing market by bringing in new buyers, reducing housing inventory; those who refinance could have more money to spend.

Scott Talbot, senior vice president of the Financial Services Roundtable, which is encouraging the move, said “If it gets people buying homes and spending, it will help reverse the economy and get us out of this recession.” A senior financial analyst at, Greg McBride, said “it is clearly designed to bring buyers into the marketplace and soak the inventory of unsold homes.”

But, rates are volatile, hovering around 5.25% on Friday, Dec.5th (dependent upon credit scores and other factors) and others have pointed out that several government attempts to lower mortgage rates this year have not had a lasting effect. Also, homeowners who have fallen behind on their payments, have little to no equity in their homes, or who have lost jobs would receive minimal benefit. And with tight credit standards, these borrowers would not be able to refinance to take advantage of the lower rates.

Sound financial decisions shouldn’t be made on speculation. So what do we know now:
*Mortgage rates are lower than they’ve been in years
*Mortgage guidelines are tight, even for “prime” borrowers
*Home prices nationally are falling, making qualifications harder

Rates are still volatile and could rise again overnight to price you out. What was that old saying of Mom’s “a bird in the hand …” And if rates fall after closing, maybe even reaching the “projected” 4.5%, we’ll refinance again.

Call me at 913-642-3334 or email me at with your comments or questions. It’s a great time to review your financial situation and ring in the holiday season on a positive note, and lower interest rate.

I also recently apeared on Pal Van Sickle podcast "The After Show" check out my interview on his site the after show

Michele A. "MAC" Cole


Tuesday, December 2, 2008


On Wednesday, November 26, Secretary Paulson announced that the Fed will purchase up to $100 Billion in direct debt of Fannnie Mae, Freddie Mac and Federal Home Loan Banks and buy up to $500 Billion of Mortgage-Backed Securities.

With this news, the spread between Treasury bonds and mortgage-back securities narrowed significantly and fueled a sharp decline in mortgage rates.

So many customers who had been on the sidelines got into the game and locked their rates on refi's and new purchases. So much so, that many lenders announced that they reached recording breaking milestones!

Don't be a benchwarmer, get in the game now while rates remain historically low. Mortgage funds are available; we have a variety of programs to suit your specific needs. Call Michele at 913-642-3334 or email me at for the most current loan information.

Michele "MAC" A. Cole