Posts Tagged ‘borrower profile’

28
Jan

Mortgage Rates January 28, 2009

   Posted by: Cal    in Gulf Coast Mortgages

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Today marked the first FED meeting since December 16th when they announced the FED would be aggressively buying mortgage backed securities through the first 6 months of 2009. 

The news was as expected with rates remaining unchanged and a commitment to keep them unchanged until further notice.

The bond market reacted negatively to the news as it is seen as a positive for the economy.  Bond traders are selling this afternoon

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23
Jan

Mortgage Rates January 23, 2009

   Posted by: Cal    in Gulf Coast Mortgages

According to FED member Frederic Mishkin in an interview on CNBC this morning, we could see inflation begin to creep into the economy based on all the government programs on the drawing board.

If there is anything that will scare away bond investors…it is the word inflation.  This combined with the summer driving season right around the corner which will inevitably lead to higher oil and gas prices means that we will likely see much higher mortgage rates in

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Mortgage bonds are down again today as they continue to bounce off a level of support at the rising trend line. 

In this volatile market, things move quickly and rates are changing throughout the day with little or no warning.

Jobless claims came out today and jumped by 62,000 to a total of 589,000 which is much worse than the forecast of 548,000.  This

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20
Jan

Mortgage Rates January 20, 2009

   Posted by: Cal    in Gulf Coast Mortgages

Mortgage bonds are moving down slightly today as the markets react negatively to prospects that the Obama administration is considering nationalizing the banking industry.

If you would like to get pre-approved for a purchase or refinance, please call 850-221-8334 anytime.


Rates as of 10:10 AM 1/20/2009


30 Yr Fixed Mtg 4.875%
15 Yr Fixed Mtg 4.875%
30 Yr FHA 5.000%
30 Yr VA 5.000%
Reverse Mortgage Call For Rates

Steve Russell
Mortgage Banker
Primary Residential Mortgage
850-221-8334 Cell
850-497-6325 Office

Steve@steverussellonline.com

www.SteveRussellOnline.com

* All rates assume the purchase of a single family primary residence with at least 20% down payment, 740 credit scores, and verifiable income and assets. Rates vary based on borrower profile and property type. Rates are subject to change without notice. All rates also assume a 1% origination fee. Loans with no origination fee and no points may be available.

 

 

 

 

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