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The Rates are dropping the Rates are dropping!

Better to have Falling Mortgage Interest Rates than the sky - that's for sure!

I was just speaking with one of MY Preferred Lenders at Country Wide and she told me rates on many products have dropped again this morning.

Currently she was quoting 5.75% on a 30-Yr Fixed with No Points!

For those of you on the fence about if you should re-fi before your ARM adjusts - now may be the time!

Monday the rate was 6%. This rate drop would save you about $50 a month or $18,000 over the course of a 30-Year loan.

Thinking of doing a Re-Fi? Think Harder Today!

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Posted by James Downing - REALTOR®,GRI, ABR - DC Real Estate on 01/04/2008 10:29 AM

Comments (5)

interest rates, lenders, mortgages, refinance

Originally posted at: DC Real Estate News: The Rates are dropping the Rates are dropping!

This post has been included in District of Columbia Information

5 Comments on The Rates are dropping the Rates are dropping!

JAN

2008

Jim-

You are right, I watched the 10-year bond yield drop to 3.82% at one point this morning. I had a feeling we were going to see 5.75% on a 30-year fixed conventional mortgage. Great time to buy!

James

The ratews are dropping, but more importantly, how is your doggy?

Sincerely

Tom BRaatz

Jim, all I can say is Yippee!

James, now is the time for people to lock in. I wish them well.

JAN

2008

My bet is rates are going to go down even more. The mortgage rates tend to move about 1 month after the Fed lowers either the discount or Fed funds rate, even though those moves have little to do with m,ortgages.

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