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interest rates: House OK's Increase to FNMA and FHLMC Loan Limits - 01/27/08 06:31 PM
Hallelujah!!  The increase to the loan limits of loans bought or insured by Fannie Mae, Freddie Mac and FHA is great news for consumers!!!  For those homeowners who have existing Home loans and HELOCs which totaled over $417,000, in order to consolidate and refinance, they would be forced into Jumbo loans which have higher interest rates than do the conforming loans!  With the new higher limits $729,750..........these homeowners can now refi into a conforming loan at a Lower Interest rate!!  And............of course, those looking to purchase a home, particularly in markets such as California where the home prices have been greatly … (0 comments)

interest rates: Great news as Mortgage rates drop! - 09/13/07 05:49 PM
The following good news is an excerpt from a CNN Money news release!
Mortgage rates dropped in the latest week, which could help home buyers who are looking to refinance, Freddie Mac reported Thursday.
The government-sponsored loan buyer said the average rate on a 30-year fixed-rate loan averaged 6.31 percent for the week ended Sept. 13, down from 6.46 percent last week.
Last year at this time, 30-year mortgage rates averaged 6.43 percent.
Freddie Mac said interest rates on prime conforming loans fell across the board in the past week, with rates on 30-year fixed mortgages averaging 0.15 percentage point below the … (0 comments)

 

Duane DeSalvo

Camarillo, CA

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Somerset International

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