Monthly Archives: January 2011

This weeks mortgage news – interest rate pricing improves!!

The bond market finished the week 31 points up – keeping rates basically the same, but improving the costs of a loan by approximately .25% of total loan amount.  30 year fixed par rates are still sitting at 4.75%.  15 year fixed FHA loans actually price so much better than 15 year fixed conforming loans […]

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Mortgage Rates remain stable

Not much movement in the rate markets last week.  30 year fixed par rates still holding steady at 4.75% – usually having to pay a portion of point to get that rate.  15 year fixed have settled in at 4.25% and 5/1 ARMs at 3.25%.  Those looking for a more stable loan below 4% are […]

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Customers with HIGH LTV’s or Lower FICOs should lock asap!!

I touched on this two weeks ago and it bears repeating.  Many customers will see a large increase in pricing in the very near future.  Loan level price adjustments with Fannie Mae and Freddie Mac will be going into effect for loans sold to these agencies as of April 1st, 2011.  Lenders will make price adjusments in […]

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Unemployment report lowers rates

The big news this week in regards to mortgage rates was the unemployment reports. Unemployment dropped .4%, from 9.8% to 9.4%. Though the number sounds good, it didn’t boost the stock market due to the amount of people getting out of the job market. An unemployed person is defined by someone looking for work that […]

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TODAY’S RATES AND FANNIE MAE ANNOUNCES PRICE CHANGES

Rates start off the new year solid.  30 Year Fixed par rates are still at 4.75% , but with a decent yield spread premium so most will require a low amount of origination fees for this rate.  15 Year Fixed rates down to 4.125% and 5/1 ARMs have hit 3.25% again.  Keep in mind every […]

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