Russ Allgier's (rallgier) Blog

Purchasing a home is the right decission if your in the market.  Interest rates are not going to get any lower.  Currently there are several loan programs out there, rates are 5% on a 30 year fixed.  This allows home buyers to  finance a home with an extremely low rate of interest.  If you have b...

Its Saturday and I am in the process of negotiating a purchase agreement on a property that I am interested in.  Sometimes we forget the emotional roller coaster that buyers go through.  I personally an numb to it, but I can see my wife isn't.  I have bought and sold about 15 properties in the pa...

Today rates improved dramatically.  I hope to see them continue on this trend.  The stock market may have closed down 400 points but the 10 year treasury bond was up 75 bps.  The FNMA 5.5% bond gained 62 bps and the GNMA 6% bond gained 43 bps.   This is very good for interest rates.  Todays 30 ye...

Today, I called a long time investor about selling them some loan servicing.  They informed me that they wouldn't be able to buy any loans from us do to the fact that we are mortgage bankers.  I find this odd.  Our company has gone through the process of becoming a mortgage banker.  This allows u...

The election coming up next week and I am hoping that we can get back to some sort normalcy.  I find myself staying up late and listening to talk radio, usually Alan Colmes.  I lean more to the right, but I cannot get anything else to come in this late at night.  The last presidential election br...

According to the latest figures released by the US Labor Board, South Dakota had the lowest unemployment rate in the nation at 3.2%.  That is good news, South Dakota needs more people looking for work, and we would be glad to have you!  If you looking to move the Rapid City or Black Hills area's ...

I was working on a loan file today, when I suddenly realized that not everyone pays attention to the news.  I have been working on getting people not to focus on the negative media, it is not productive.  So one of my loan officers was questioning an underwriter for requirements she placed upon a...

You ever notice that Mondays are very difficult to get through?  I have no explanation as to why, I just know they are.  We find ourselves sitting in front of one another sharing stories about the weekend.  Seems like the same story from last Monday and the Monday before that.  Mondays stink.  I ...

Today I found myself thinking of the many things that are about to take place in the next 30-90 days.  The presidential election could be the most important part of modern day history. With that in mind, can we really believe anything that is in the media?  I personally find the media ridiculous,...

The news out there is so negative, I cannot believe more people haven't turned to the bottle.  The mortgage meltdown seems to be the only news, and it seems like we should be ashamed to tell people we are involved in the mortgage industry.  There were a lot of bad people in the mortgage industry....