Posts Tagged ‘ disneyland ’

National Mortgage Rates Report: May 2, 2008

Let’s lock all mortgages rates at application, regardless of when its closing. I think this is about as good as it gets for a while. I still see 30 year fixed rates a tad under 6% (5.875%) but the good economic data, released today, could drive national mortgage rates up next week.

I recommend a 7/1 ARM today. Rates offered for a 7/1 ARM, for loans under $417,000, are OVER a half a percentage point less than the 30 year fixed (5.25%). Most borrowers will feel comfortable with a seven year time frame. This means that 5.25% rate is locked in for 7 years- that’s until 2015.

(All loans offered to the consumer at the wholesale or “par” rate. We are paid 1% by the consumer.)

To give you an idea of how long 7 years is, Disneyland’s California Adventure opened in early 2001. You probably thought it was around forever.

The bond traders won’t be merciful next week unless recessionary data are overwhelming. Jump on these low rates now. Continue reading this post


Posted by: Brian Brady on May 2nd, 2008 under Financing, Mortgage and Home Loans

No Comments »

For Real Estate Agents

Online Marekting Solutions

For Home Buyers and Sellers

e.g., 1250 S Main St, Burbank, CA or 91506
     Search Foreclosures    Search New Homes    Search Rentals    

Blog Categories

Blog Archives

Real Estate Blogs

Top Articles

Recent Comments

Guaranteed LeadsReferral Lead ProgramListings PackageVisits to your WebsiteFind REALTOR®Homes For SaleHome Values