The stock market extended a major rally yesterday, on hopes that the Eurozone will agree on a Greek bailout. Whether or not that rally continues depends largely upon an agreement being reached. The rally came at the expense of mortgage backed securities and treasury bonds, which have given back much of their gains over the past couple of weeks. Mortgage rates are sitting just above their all-time lows, and with the volatility of the markets, it is difficult to predict how long they will stay there. If you are going to refinance your home or purchase a new one, now is a good time to lock in a historically low rate that could save you money for years. To find out about our pre-approval process or our rates and products, call us today at 877-868-2503. There is no time like the present to start saving.
Some of Our Rates and Products*:
| Mortgage Product | Mortgage Rates | APR |
|---|---|---|
| 30 Year Fixed Conventional Mortgage | 3.875% | 4.027% |
| 15 Year Fixed Conventional Mortgage | 3.250% | 3.517% |
| 30 Year Fixed FHA Mortgage | 3.750% | 5.092% |
| 30 Year Fixed Jumbo Mortgage | 4.875% | 4.992% |
| 5/1 Conforming ARM Mortgage | 2.500% | 2.951% |
| 5/1 Jumbo ARM Mortgage | 2.750% | 3.038% |
***Mortgage are always changing. The below rates were quoted at 1:00 P.M., on September 28, 2011. Call 877-868-2503 for more details.***
Today’s Links:
NY Times Dealbook: A $50b claim of havoc looms for Bank of America.
Reuters: Greece to face inspectors, Merkel hints at bailout.
Bloomberg: Mortgage survivors get bargains as risk eases.
NY Times: Expanded Euro bailout fund clears hurdle.
Business Insider: These are the Euro banks with the most exposure if Greece defaults. This is where the “Greek bailout” will be going.
Naked Capitalism: Protesters disrupting foreclosure auctions in California.
Calculated Risk: The MBA’s mortgage purchase application index increases.
Washington Post: Greece passes property tax increase in effort to avert default, secure bailout. I don’t suspect these forced austerity measures will be well received.
* All rates shown are for 30 day rate locks. Longer locks are available. The APR for conventional loan amounts is calculated using a loan amount of $417,000, 1 point, a $495 application fee, $400 appraisal fee, $715 underwriting fee and a $16 flood certification fee. The APR for jumbo loan amounts is calculated using a loan amount of $500,000, two points, a $495 application fee, $400 appraisal fee, $715 underwriting fee and a $16 flood certification fee. The APR for FHA loan amounts is calculated using a loan amount of $295,000, two points, a $495 application fee, $450 appraisal fee, $715 underwriting fee and a $16 flood certification fee. Some rates and fees may vary by state. All interest rates listed are for qualified applicants with 720 or higher FICO and 80 LTV and are subject to mortgage approval with full documentation of income. All rates are subject to change without notice. All rates shown are for 30 day rate locks with 1 point unless otherwise noted.
Loading ...
RSS feed for comments on this post.
Leave a comment