Under One Roof

Interest Rate Reduction Sets Off a Chain Reaction Across the U.S. on Tuesday!
November 26, 2008 by Tamara Sevigny, Customer Care Director
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The Federal Reserves’s attempt to stabilize the housing market set off a chain reaction of refinances across the United States on Tuesday, November 25th. Interest rates on 30 year fixed-rate mortgages dropped by roughly half a percentage point for borrowers with good credit scores and at least 20% equity in their homes.  To read more log onto:  http://www.foxnews.com/story/0,2933,457705,00.html

Kiel Mortgage’s 10th Annual Christmas Gala Sponsored by Flagstar Bank.
November 3, 2008 by Tamara Sevigny, Customer Care Director
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Kiel Mortgage’s 10th Annual Christmas Gala is being sponsored by Flagstar Bank. The Gala will be held at the W this year in downtown Seattle and is a cherished event that focuses on a shared meal, reflective conversation, and giving thanks! It is a true blessing to be able to serve so many incredible families by helping them to achieve the goal of home-ownership and through the refinancing process. We, at Kiel Mortgage, are extremely grateful to Flagstar Bank for their continued support and generosity of our company. As 2009 draws near we look forward to a stronger economic forecast and to further building upon a successful business partnership!

Lending Rates Fall
by Tamara Sevigny, Customer Care Director
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Lending rates continued to fall Monday, as the Fed and central banks around the world attempt to boost liquidity among financial institutions.The overnight Libor rate fell for the sixth-straight day to 0.39% from 0.41% on Friday, according to Dow Jones. It was overnight Libor’s lowest level since the British Bankers’ Association began calculating the rate in 1997. The 3-month Libor rate dropped to 2.86% from 3.03% on Friday. Libor, the London Interbank Offered Rate, is a daily average of what 16 different banks charge other banks to lend money in the U.K. Lending rates have been trending downward for the past several weeks. Just a month ago, 3-month Libor was over 4%, and the overnight rate was at an all-time high of 6.88%. Lower rates are a major boost for the strangled credit market, as more than $350 trillion in assets are tied to Libor. Many economists believe falling rates are a result of a number of government programs aimed at easing funding concerns for banks and encouraging lending between financial institutions. These include measures such as lowering interest rates, injecting capital into banks and providing insurance on all non-interest bearing accounts. To read more log onto: www.cnnmoney.com.

Dean Eulberg & Terina Claggett are the October Recipients of, “The Star Award.”
by Tamara Sevigny, Customer Care Director
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Dean Eulberg, Senior Loan Officer, was the recipient of the “Star Award,” for his high level of productivity and commitment to his clients for the first half of October. Dean’s product knowledge and outstanding customer service is a true asset in the workplace. CONGRATULATIONS Dean!! Great job! In the second half of October the Star Award was received by Senior Loan Officer, Terina Claggett, for her high level of productivity and tenacious spirit in finding the right loan program for her clients. Terina is a true blessing to all who work with her! AMAZING JOB  Terina!!!

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