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If you are looking for a Mortgage Professional who will give you the type of service that you deserve, contact Bob Amato (NMLS # 8632) and Empire Home Mortgage Inc. (NMLS # 44882). We answer our phones seven days a week until 9PM. Put us to the test! Our toll free number is (866) 742-5227.

 Visit our website, www.empirehomemortgageinc.com . There you can get answers to all of your financing questions, view rates and search for foreclosed properties.

 If you are considering locking in an interest rate for a New York mortgage or a Florida mortgage, read this post.

 August's Housing Starts was today’s only economic data, showing a 5% decline in starts of new home construction. This was a larger decline than expected and dropped the number of new starts to a three month low, indicating weakness in the housing sector. Unfortunately, since this data is known to be of low importance to the markets, its impact on this morning’s bond trading and mortgage rates has been minimal.

 Tomorrow morning brings us the release of another housing sector report, but this one carries a little more significance in the markets. The National Association of Realtors will release August’s Existing Home Sales report late tomorrow morning. It tracks home resales in the U.S., helping us measure housing sector strength. It is expected to show a small increase from July's sales, but market traders will likely be more focused on the afternoon activities.

 The Fed’s FOMC meeting began today and will adjourn at 2:15 PM ET tomorrow. There is no chance of seeing any type of change to key short-term interest rates. However, the post-meeting statement could very well lead to volatility during afternoon trading as investors dissect it in an effort to find when the Fed's next move may come. Market participants are anxiously waiting to hear what the Fed has in mind to help stimulate economic activity. Many feel that there isn’t much that they can do at this point to quickly boost economic growth. This was originally scheduled to be a single day meeting, but was extended to a two-day meeting to allow more time for them to discuss their options. Needless to say, it will be an interesting afternoon tomorrow when the post-meeting statement is read.

 If I were considering financing/refinancing a home, I would.... Lock if my closing was taking place within 7 days... Float if my closing was taking place between 8 and 20 days... Float if my closing was taking place between 21 and 60 days... Float if my closing was taking place over 60 days from now... This is only my opinion of what I would do if I were financing a home. It is only an opinion and cannot be guaranteed to be in the best interest of all/any other borrowers.

 Empire Home Mortgage Inc. is a registered Mortgage Broker with the New York and Florida State Banking Departments and our loans are arranged through third party providers.

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