Comeback day for rates

By
Mortgage and Lending with Wisconsin Home Lending, Inc.

Good morning.  I hope everyone had a great weekend.  Here is a quick update on mortgage rates today.  The Fed gave Fannie and Freddie access to the emergency discount window, and mortgage bonds are suddenly a hot commodity again.  Thus, rate are better today than when we left work Friday.  Par rates are at or near:  

  • 30 year Fixed - 6.00%
  • 15 year Fixed - 5.50%
  • 5 year ARM - 5.50%

Please stay tuned for future updates.  We've gotten back over half of what we lost on Friday's major move downward.  I'm going to keep floating, as cooler heads are prevailing.

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Rainmaker
1,478,296
Donna Harris
Donna Homes, powered by JPAR - TexasRealEstateMediationServices.com - Austin, TX
Realtor,Mediator,Ombudsman,Property Tax Arbitrator

Great news, thanks for the rate updat!

Jul 14, 2008 03:37 AM #1
Rainmaker
182,162
Sara Bonert
Zillow - Atlanta, GA
Real Estate Internet Marketing

Thanks for the update.  I was wondering what affect the bailout would have on rates. 

Jul 14, 2008 03:54 AM #2
Rainer
53,231
Carey Pott
January Financial - Foothill Ranch, CA

Thanks Jeff - I'm floating too, but with an itchy finger on the trigger. It doesn't take long for things to move sharply in either direction these days...

Jul 14, 2008 03:56 AM #3
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Rainer
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Jeffrey Stoub

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