If you have not looked into refinancing yet, WHY? Historic low rates continue to last longer than anyone has expected... Rates are now the lowest that they have been in more than 40 years!. While there are many complicated factors that go into determining rates, a change in any one of those factors could happen […]
While there is both good news and bad news for FHA mortgage applicants, this premium restructuring will help to keep FHA stable in the long run. The up-front mortgage insurance has been lowered considerably...
Fannie Mae has announced stiffer penalties to consider if you decide to walk away from a mortgage that you can afford to pay. Starting in the fall, Fannie Mae will disqualify borrowers for a period of seven years if they choose to default on their mortgage even though they have the ability to pay.
Here's our Weekly Rate Summary! Don't forget to come back and see what's new and if you can comment on our articles
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Conv 30 Year Fixed |
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| Rate | Disc. Points | APR | Payment | Closing Cost | |
| 4.250% | 1.125% | 4.387% | $1,230 | $4,578 | Details |
| 4.375% | 0.375% | 4.451% | $1,248 | $2,703 | Details |
| 4.500% | 0.000% | 4.544% | $1,267 | $1,765 | Details |
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FHA 30 Year Fixed |
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| Rate | Disc. Points | APR | Payment | Closing Cost | |
| 4.250% | 1.058% | 4.625% | $984 | $3,796 | Details |
| 4.375% | 0.510% | 4.710% | $999 | $2,700 | Details |
| 4.500% | 0.000% | 4.800% | $1,013 | $1,680 | Details |
With minimal economic news during our holiday week, mortgage rates have continued at the lowest they have been for decades. Last week ended with mortgage rates slightly lower while the volatility in mortgage markets and other financial markets stayed pretty high. Without major changes in the financial markets, sudden movements in rates were known to stir during the holiday week.
The National Association of Realtors said that over 180,000 people would lose their tax credit if the extension didn't come through, now we have confirmation that the house of representatives has extended this closing date to the September 30th date.
Last week, Greenspan wrote an Op-Ed for the Wall Street Journal in which he warns of an inevitable rise in interest rates... The second paragraph should be more than enough to tell you that rates will rise and not only...
I have prepared a brief summary of mortgage rates for the most common loan programs. As you know, rates can vary greatly based on credit scores and loan to value but, for this weekend, the rates below are realistic.
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Conv 30 Year Fixed |
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| Rate | Disc. Points | APR | Payment | Closing Cost | |
| 4.250% | 1.500% | 4.418% | $1,230 | $5,515 | Details |
| 4.375% | 0.625% | 4.471% | $1,248 | $3,328 | Details |
| 4.500% | 0.000% | 4.542% | $1,267 | $1,765 | Details |
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FHA 30 Year Fixed |
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| Rate | Disc. Points | APR | Payment | Closing Cost | |
| 4.375% | 0.968% | 4.743% | $999 | $3,616 | Details |
| 4.500% | 0.224% | 4.813% | $1,013 | $2,128 | Details |
| 4.625% | 0.133% | 4.933% | $1,028 | $1,946 | Details |
The first question to ask yourself is, "How much money can I save each month?" If your current Interest Rate on your FHA Mortgage is 5.50% or more, you should be calling us right now, before Interest Rates start to rise again. This is especially true if you currently have an Adjustable Rate Mortgage. 1-(888) 931-0007
Possible Extension to Homebuyer Tax Credit... Or Not?
If you haven't been informed yet, the Homebuyer Tax Credit has almost ended with less than a month left for First Time Home Buyers and Current Homeowners to close their deals and qualify for the Tax Credit.
