Rate Watch - 3/10/08
CMA Update for 03/10/2008
Robin’s Cell: (303) 378-5973
Website
(1) Rate Watch:
Conventional 30 year fixed rates are at 6.125% today with a 1% discount point and 6.375% 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 $300.00 discount on closing costs.
(2) Market Liquidity:
the demand for mortgage money currently outweighs the supply on the secondary market. That’s why mortgage rates seem “high” relative to the markets. The government is currently working on a bond “Bail-Out” program to help fund the mortgage market, and we HOPE that will have a positive effect on rates. STAY TUNED THIS WEEK!
(3) Product Alert!
FHA loan limits in Jefferson, Park and Clear Creek County just increased to $406,250! (along with other counties in the Denver metro area). This will help buyers with little or no money down, first time homebuyers, and those with some past credit issues. FHA rates today on a 30 year fixed rate are 6.0% with a 1% discount fee, and 6.5% with NO discount point. Same fees apply as conventional mortgages!
