Interest Rates Decrease
According to DAN KLEBESADEL with Wells Fargo Mortgage:
"Each day brings something new to the market and today investors are putting their money into the save-haven of US treasuries. As a result, those bonds are rallying big-time today and we are seeing the conforming 30 year fixed dip to their lowest point in a long time. Although the jumbo market has not seen much rate improvement due to the lack of liquidity and investors, the secondary market of Fannie Mae and Freddie Mac have improved nicely. Depending on the actual loan amount and buyer qualifications, 30 year fixed rates < $417,000 are available for as low as 5.875% with 0 points*.
Remember that we can pair a second mortgage with that to reach into jumbo loan levels and without having to suffer the jumbo rate. With today's rally coming late in the day, we may even see some more improvement tomorrow."
*Please contact Dan for APR's and rate quotes which may vary, depending on loan amounts and buyer qualifications. 818 947-7888
"Each day brings something new to the market and today investors are putting their money into the save-haven of US treasuries. As a result, those bonds are rallying big-time today and we are seeing the conforming 30 year fixed dip to their lowest point in a long time. Although the jumbo market has not seen much rate improvement due to the lack of liquidity and investors, the secondary market of Fannie Mae and Freddie Mac have improved nicely. Depending on the actual loan amount and buyer qualifications, 30 year fixed rates < $417,000 are available for as low as 5.875% with 0 points*.
Remember that we can pair a second mortgage with that to reach into jumbo loan levels and without having to suffer the jumbo rate. With today's rally coming late in the day, we may even see some more improvement tomorrow."
*Please contact Dan for APR's and rate quotes which may vary, depending on loan amounts and buyer qualifications. 818 947-7888
Posted by Phyllis Harb at 11/26/2007 2:26 PM 
Categories: All about Money, Interest Rates, A Buyer's Perspective
Categories: All about Money, Interest Rates, A Buyer's Perspective
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