Interest Rates for August 12, 2010

By
Real Estate Agent with Keller Williams Realty Professionals MN Broker #40288835

And they just keep going down.............. My last VA buyer locked in at 4.25% which was an amazingly low rate, thinking that they could only go up!

I am seeing a tightening for lending, with many hopefuls being turned away because they do not meet the higher standards for lending. I do think that this is a good thing overall, although they probably would have bought homes from me now and then somewhere down the road I would be helping them sell their dream home turned into financial nightmare.  This way they can work on their credit, actually get a job and stay at it for a while, save up for a down payment ----------and I can rest well at night.

That is a good thing!

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Welcome from the Brainerd Lakes - where outdoor and indoor recreational opportunites abound. Looking to buy on one of our many lakes? Ready to move up or down?  Having trouble selling your home? 

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Rainmaker
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William Feela
WHISPERING PINES REALTY - North Branch, MN
Realtor, Whispering Pines Realty 651-674-5999 No.

Kathleen.  I am seeing some tighter qualifications also.  Yet, the banks are complaining that they aren't getting many loan apps.  Go figure.  I understand the need to tighten, but they are going a bit over board on the credit score, yet allowing a large LTV.  Cut the credit score to a more reasonable  number but also cut the LTV so bottowers don't get in over their heads right away.

Aug 12, 2010 09:37 AM #1
Rainmaker
1,042,175
Charles McDonald
Charlottesville Real Estate Solutions - Charlottesville, VA
REALTOR®, Blogger, Principal Broker®, Owner

I just love these rates!

it is helping a lot of people get into 30yr fixed rate, homes

your friend in Charlottesville

Aug 15, 2010 03:24 AM #2
Rainmaker
290,574
Kathleen Lordbock
Keller Williams Realty Professionals - Baxter, MN
Keller Williams Realty Professionals

These rates are really low compared to what they were when I bought my first home or my second home -wow!

Aug 15, 2010 11:41 AM #3
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Rainmaker
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Kathleen Lordbock

Keller Williams Realty Professionals
central mn real estate questions?
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