WELCOME...to a review of our real estate industry's events. My personal goal is to keep you informed of critical and not so critical news. I hope you will take the time to share any future topics you have an interest in.

Joe Stiles

Interest rates have shifted down slightly this week, according to FHLMC.

30 Year Fixed Rate:

• Week Ended 08-11-06 = 6.550% with 0.40% origination fee
• Week Ended 08-04-06 = 6.630% with 0.60% origination fee
• Last Year = 5.890%

15 Year Fixed Rate:

• Week Ended 08-11-06 = 6.200% with 0.40% origination fee
• Week Ended 08-04-06 = 6.270% with 0.40% origination fee
• Last Year = 5.470%

  Frank Nothaft, Vice President and Chief Economist at FHLMC, indicated that the weaker-than-expected job market and the Fed's decision to forego a rate hike resulted in lower rates last week.

  www.joestiles.com

Total property sales for June reaches 9,166 - a 14.10% increase over June 2005. The dollar volume reached $1.9 million - a 26.20% increase over last year.

The Houston median price for SFR homes reached an all-time record of $156,000. with the average home price reaching $213,634.

Aren't you glad we live in a very robust city?

NOW...let's get our proprty taxes under control as well as our legislative spending>

How many times have you heard the same lecture with bullet points on steps we all should take to protect our credit?

Well...I am sharing this first-hand story of the results of our experience with a stolen ID to give you a better insight into the reality of how this affects us all and if we are not diligent, it can be very crippling.

Over this past week-end, I happened to be working on a Pre-Approval Letter for a home buyer. After the usual credit report and loan application review, I thought that it must be more than a year (more like 1.5 years) since I looked at the credit report that my wife and I share. After completing the loan approval, I pulled our credit report and guess what...someone used my wife's social security number and applied and subsequently defaulted on a Spring PCS account. In May of this year, the account was sold (or referred) to a collection agency. That one collection account, even though fraudulent and in another person's name, negatively impacted Linda's credit score by over 100 points.

For my direct costs, I will be glad to pull your personal credit report that will allow you to keep abreast of potentially negative information.

Take advantage of my offer to pull your credit report, for my direct costs. If it has been more than one year since you last reviewed your report, you will have current information and knowledge if further action is required. I will be glad to offer my FIRST- HAND council of how to remove the fraudulent items.

If you have questions, please consider me a readily- available resource. Feel free to email me with your questions.

As an avid reader, I am currently reading Walk Fast, Talk Loud and Smile by David Otis. I would highly recommend it to all who are in sales - as we are.

Some of the topics of the book include the following:

• Acres of Diamonds (clients)
• Sales Habits (good vs. bad)
• A Call to Greatness
• Leadership Qualities

When you need a mortgage banker that works as hard as you do, let me introduce you to MORTGAGE FINANCING WITH...STILE

Are you looking for new new business development opportunities? Be sure to ask me about the Private Label Mortgage Lending Program and how it benefit you, directly.

• www.joestiles.com

• Referring a Referral
• Your 30 Seconds of Fame

JOE STILES has over 20 years mortgage experience and lives in West Houston with his wife, Linda, a dynamic professional speaker and communications trainer (www.lindastiles.com). Joe earned a BBA degree in Marketing from the University of Houston, where he was awarded membership in the Phi Kappa Phi and Beta Gamma Sigma honor societies. Joe is also a graduate of the School of Mortgage Banking at Northwestern University. Joe remains active in the Houston community through Second Baptist Church and numerous civic organizations. Joe frequently speaks at many Houston-area organizations and at local firms on Credit Scores, stolen IDs - Prevention & Cure and several other funny and motivating topics.

Network Funding is a Houston, TX based mortgage banking firm that has 160 branches in 32 states.