Posted to: For Buyers

Rate Watch from Gwen & Rhoda

 

Here is the latest and greatest from a pair of super cool mortgage brokers, Gwen Hoople & Rhoda Paul of Holmgren Mortgage in Oakland.

“Mortgage rates increased last week despite news that the economy will be in an extended recession and a jobs report that was weaker than expected. Stocks surged Monday in a positive response to progress on a potential rescue of the Big Three auto makers, as well as news of President-elect Obama’s stimulus plans. Rates normally rise when the stock market rises, but are relatively unchanged since last week. We are receiving many calls from consumers asking about the Treasury plan to reduce mortgage rates to 4.5%, but so far no information has emerged about what this means, who it will apply to, and other critical details.”

30 Year Fixed Conforming: 5.625%/5.662%APR
30 Year Fixed Agency-Jumbo: 6.000%/6.024%APR
5 Year Fixed Conforming (1 Point): 5.375%/5.435%APR
5 Year Fixed Int. Only Conforming (1 Point): 5.500%/5.456%APR
5 Year Fixed Int. Only Jumbo (1 Point): 5.750%/5.477%APR

Discussion

2 comments for “Rate Watch from Gwen & Rhoda”

  1. I recently came across your blog and have been reading along. I thought I would leave my first comment. I don’t know what to say except that I have enjoyed reading. Nice blog. I will keep visiting this blog very often.

    Betty

    http://www.my-foreclosures.info

    Posted by donald | December 12, 2008, 9:16 pm
  2. Betty, thanks so much for stopping by! Feel free to leave a comment anytime. ~Krista

    Posted by Krista Miller | December 16, 2008, 5:57 pm

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