low rates: Mortgage Rates Dropping...Again!
- 07/14/09 06:06 AM
Thanks to our sagging economy, mortgage rates are dropping again. The average 30 year fixed rate mortgage nationally is around 5.50% with average 15 year fixed rates under 5%. This is good news once again for prospective new home purchasers as well as existing homeowner's looking to refinance (either to lower their rate or to take cash out of their equity). I have always felt that the jobs and unemployment numbers the government releases (and which have an effect on both our stock and bond markets, the latter which drives mortgage rates) are flawed. Especially the unemployment numbers. The reason is … (0 comments)
No Downpayment Required -- 100% Financing (only program in today's market that offers this benefit) A 4% Seller Concession is allowed, to pay for certain closing costs (less out of pocket funds required at closing) No PMI (Private Mortgage Insurance) -- although an upfront funding fee is required and can be financed or paid by the seller concession Interest rates similar to FHA rates (yesterday's rates were under 5.50%!) Prospective … (0 comments)
My blogs will contain mortgage-related information, based on my experience, that will hopefully be helpful to anyone looking to purchase a new home or refinance their existing mortgage.
Thanks to our sagging economy, mortgage rates are dropping again. The average 30 year fixed rate mortgage nationally is around 5.50% with average 15 year fixed rates under 5%. This is good news once again for prospective new home purchasers as well as existing homeowner's looking to refinance (either to lower their rate or to take cash out of their equity).
;)
;)
