CMA Update for 06/18/2008
Robin’s Cell: (303) 378-5973
Kristie Fulte: (720) 924-0917
Website

(1) RATE WATCH: RATES ARE UP
Conventional 30 year fixed rates are at 6.375% today with a 1% discount point and 6.625% with NO discount point. FHA rates are at 6.5% with 1% discount and 6.75% with NO discount point. We NEVER charge additional origination points, and our other fees at closing are $800.00 total. Wells Fargo Banking clients receive a $150.00 discount on closing costs.

(2) PRODUCT UPDATE:
PMB: 30yr. fixed rates as low as 6.0% today on our private mortgage banking product. This product often “lags” behind conventional rates when rates increase, so NOW is the time to lock-in! (loan amounts specifically from 800K-2million).

(3) MARKET UPDATE:
The stock market is expected to go down sharply on news that Wachovia Bank is reporting record losses and write-downs on Monday. Gas prices are expected to surge with news of tropical storm Dolly in the Gulf. Most oil refineries along the south Texas cost are being evacuated today (this represents 3% of the oil refining in the US).