Those pundits and arm chair quarterbacks out there who were predicting mortgage rates below 4.5% are either really good or really lucky. The truth is, it does not matter. As of 8:40 on Monday 11/30/2009 we appear headed to opening rates at 4.375% or lower with 1 point upfront.
To overuse a phrase that is already grossly overused, this is a perfect storm. Home values have stabilized and in many markets like Montgomery County, MD ; home values have started to rise in some pockets. This makes it an ideal time to refinance or purchase, especially if you have a JUMBO mortgage. Rates on Jumbos will beat 4.875% or LOWER with zero points today!
We have long been concerned about the new FHA guidelines that will limit the loan amount and basically require all closing cost to be paid by the lender, today that is not an issue. I will be able to offer 5% with all closing cost paid on FHA streamlines. This should be the case on both conforming and Jumbo FHA streamlines.
What I do not want to here from my clients today is that they want to wait for rates to move even lower. As a mortgage professional, the biggest piece of advice that I can give you is to learn from the past. When rates are this low, do not hesitate. LOCK IN YOUR INTEREST RATE today. Today is the only thing that is a given.
Contact Josh Burley today to LOCK your purchase or refinance
301.881.8900 x125
Work with a LOCAL mortgage lender that you can trust. Choice Finance has been serving the DC Metro area since 1996
Apply online now! @ www.choicefinance.net/apply
USDA, FHA , VA, Conventional and Jumbo mortgage rates
Josh Burley
Sr. Loan Officer
Choice Finance Corp.
www.choicefinance.net
301.881.8900
Comments(2)