Our broker, Ron Acker, passed away this Sunday. He will be greatly missed by everyone in our office. He was a man who left an amazing legacy, not only for his family, but for our company and the community. My prayers go out to his family and friends.

His funeral will be held on Friday, June 15, 2007. In lieu of flowers, the family requests that those who wish to express their support consider a donation to either the Rollins College Ron Acker Scholarship Fund, 1000 Holt Avenue - 2754, Winter Park FL 32789-4499 or a donation to the Ron Acker Affordable Housing Foundation, P.O. Box 1689,Winter Park Fl 32790 in honor of Ron's dedication to these causes.

All of the Acker RE/MAX offices will be closed on Friday, June 15th.

weekly interest rate update from Mickey

The latest interest rate information from Mickey Carlton:

Mortgage interest rates rose considerably over the last several days. We are now seeing 30 yr fixed rate mortgages with no origination fees or discount points range from 6.75% to 7.25%, depending upon loan size and the borrower's creditworthiness. The cash price of ten year treasury notes hit a five year high in the Asian market during last Friday's trading session. Nothing appears on the immediate horizon that would reverse these increases.

The various agencies that "set" loan guidelines continue to tighten. We are expecting an announcement from Fannie Mae and Freddie Mac that conventional interest-only fixed rate loans will now be qualified by using the full principle and interest payment. In the past, we have qualified such borrowers with the interest-only payment. This is just another example of the current trend toward tighter loan guidelines.