Mortgage Rates - April 30, 2010 - Eric's Daily Rate Watch

Mortgage and Lending with Directors Mortgage, NMLS-3240 NMLS-97776


Last Day for Tax Credit !!    Last day for home buyers to take advantage for either the first-time buyer $8000 or the move-up buyer $6500 credit.  A Sales Contract must be accepted no later than April 30th, with a closing by June 30th.  However, Federal employees and military that have served overseas for certain lengths of time since December 2008 will be allowed ANOTHER YEAR to get the tax credit.  Purchase contracts by April 30, 2011.  I can close your purchase loans in just 3 weeks in most cases.  FHA, VA, as well as Conventional.  Call today for QUICK Pre-Approvals!!

Will the End of Tax Credit Slow Down Housing Sales?   Home buyer tax credits have been a boon to the U.S. housing market, but their expiration this week is unlikely to deter home purchasing activity as consumers grow more confident, according to a survey released on Wednesday.  But 90 percent of the consumers believe that the tax credits have helped both first-time home buyers and the U.S. housing market overall.   Full story  

USDA Funding is Very Close to Passing  -  New funding for USDA Guaranteed Rural loans is almost available.  Funding is virtually gone as of this moment, but a new Bill just passed the House yesterday and the Senate is likely to approve as well.  The new bill would add $30billion in new funds for these loan guarantees.   

GDP Grows 3.2% in 1st Quarterwall street 2 The U.S. economy expanded at a 3.2 percent annual rate in the first quarter as consumers stepped up spending, suggesting the recovery was growing more durable. While growth slowed from the fourth quarter's rapid 5.6 percent pace and was a touch weaker than economists expected, the details of the report from the Commerce Department on Friday were fairly upbeat..  Full story

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Today's Rates at a Glance  

Conforming ($417k or lower - Pmt based on $250k loan amt)

RATE      APR       P&I Pmt

4.875     5.051      $1323       30yr Fixed

4.250     4.522      $1880       15yr Fixed

5.250     5.418      $1380       30yr Fixed investment

3.625     3.416      $7551         5/1 ARM interest-only

4.750     5.603      $1304       30yr Fixed FHA

Jumbo (over $417k loan amt  -  Pmt based on loan amt listed)

RATE      APR       P&I Pmt    

5.500     5.620      $2838       30yr Fixed to $500k

5.750     5.867      $3501       30yr Fixed to $600k

5.875     5.991      $5915       30yr Fixed at $1million

4.250     4.349      $3689       5/1 ARM at $750k

3.300     3.146      $3221       3/1 ARM at $750k

Up to $3million loan amounts available, call for details

Click to Use My Payment Calculators Here

Current Product Offerings Include:   Purchase, Refinance, Construction, Land loans, Farms, Commercial, Investment Property, Single & Multi-family, Business acquisition & refinance, Conventional, FHA, VA, USDA, Cash-out, No-Cost refi's available ... and more ... And we lend our own funds for most of these loans (close faster with very competitive rates)

Interest rates as of 30 April 2010 subject to change without notice.  Please call for up-to-the-minute accurate quotes and Pre-Approvals.  Pricing based on a single-family primary residence and 30day lock.  FHA, USDA, VA rates factored on a middle credit score of 620 and 96.5% ltv for FHA and 100% ltv for USDA or VA.  USDA has income & property restrictions.  Conventional rates shown based on credit-score of 720 and 80% or less ltv, with impounds. Jumbo pricing based on 80% ltv (fixed) and 75% ltv (ARMs).  Lower credit-score programs may be available at slightly higher rates.  Reduced or "no-cost" loans available upon request.  Other restrictions to any program may apply. This offer is not a firm committment to lend.

Call 503.698.5801 for program details and scenarios ... and find out what you qualify for!


Posted by

ERIC NEWMAN  |  Loan Officer |  NMLS# 97776     
Office: 503.698.5801  |  Cell: 503.997.5285   |  Fax: 503.716.4604    
Guild Mortgage Company  |  NMLS# 3274  |  10135 SE Sunnyside Rd, Ste 220, Clackamas, OR 97015  

NW Mortgage Group has been acquired by Guild Mortgage  -  Read the full press release


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Eric Newman

Loan Officer with 25yrs in Housing, NMLS-97776
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