Holiday Schedule: July 4th
06/30/2008
Bryant Surety Bonds will be closed on Thursday, July 3rd for Independence Day Weekend; we will return on Monday, July 5th. We hope you all have a safe and pleasant holiday. While we are closed, please explore our website for information on surety bonds, and when you are ready, use our free online application. We look forward [...]
Mortgage Apps drop to over 6 year low?.Rates also Fall
06/25/2008
Mortgage applications for the week ended June 20 dropped 9.3%, the lowest since December 28, 2001.
Borrowing for a 30 year fixed-rate mortgage averaged 6.39% in last week, down 0.18 percentage points from the previous week, this is also below the average 6.60% of a year ago.
A payment bond, a type of contract bond, guarantees that a contractor will pay suppliers, laborers, and subcontractors (subject to contract terms) for labor and materials. Generally, payment and performance bonds are issued together as one bond, termed a "Performance and Payment Bond".
There is no high-risk market available for performance and payment bonds. Up to the turn of the century bonding companies were approving everyone, even those who did not qualify for the bond type or size. During this time record loses occurred throughout the industry as many companies closed their doors. Since this time the industry has stabilized as bonding companies have set up more rigid guidelines for approval.
As always, Bryant Surety Bonds, Inc has the ability to issue both small and large contracts, as well as hard to place bonds. We are always reviewing what carriers are offering in an effort to get you the bonds you need, at a price you want.
