Nov

19

Gobble Gobble! Turkey and Wall Street…

Written by: barb and filed Under Blog, Buyers, Mortgage Update, Real Estate |  

There is a short week a head with all the markets closed on Thursday and only a half day on Friday. Some economic notes to mention, Consumer Price Index (CPI) registered 0.3%and the Core CPI at 0.2%. With that said, the Federal Reserve will be leaving us minutes on Tuesday. I’m guessing the Fed WON’T cut rates for December at this point. The economy is still quite jittery regarding the housing pressure and retail sales short in October putting pressure on the market. Maybe a sprinkle of good news starting the holiday season, Wal-Mart released “way better” than expected earnings for the last quarter. Also nicely noted, the following BIG retailers showed good earnings:

  • Nordstrom
  • Barnes & Noble
  • Target
  • Whole Foods
  • Gap
  • GameStop
  • Limited

Who knows, we may be in for a fun and filling week! Enjoy!

Current Rates

30 Year Fixed: 6% (APR 6.125%) - Unchanged

30 Year Fixed with 10 Year Interest Only: 6.25% (APR 6.363%) - lower

40 Year Fixed: 6.25% (APR 6.356%) - Lower

5/1 ARM (2/2/6 caps): 5.625% (APR 6.578%) - Higher

5/1 ARM 10 Year Interest Only Payments: 5.625% (APR 6.834%) - Unchanged

FHA/VA 30 Year Fixed: 6.375% (APR 6.813) - Unchanged

JUMBO (Non-Conforming) Rates

30 Year Fixed: 6.875% (APR 7.005%) - Higher

30 Year Fixed with 10 Year Interest Only Payments: 7.00% (APR 7.120%) - Higher

5/1 ARM: 6.625% (APR 6.741%) - Higher

5/1 ARM Interest Only: 6.750% (APR 6.867) - Higher

Conforming loan limits are currently up to $417,000 and Jumbo loan limits are $417,001-$650,000. Quotes above are based on 30 day pricing with a 1% loan fee and a credit score of 680 or better. Quotes are also based on full loan documentation files and a minimum of 5% down. If you are planning on putting less than 20% down you will need Private Mortgage Insurance or a second mortgage to cover the difference.

The programs above are only a sample of what is available. Rates were published Monday, November 12, 2007 @ 10am and are subject to change.

For further information on any of these programs or additional programs, please feel free to email me or give me a call on my direct line (425 820-0601) or my mobile.

Comments

Leave a Reply




Subscribe




Frequent Contributors


Rebecca Kuno
Realtor & ASP
(206) 686-1661
Post Archive | RSS Feed

Barb Paetzold
Mortgage Expert
(425) 820-0601
Post Archive | RSS Feed

  • Categories