From our preferred lender Josh Hernandez at Mortex Lending:
(contact josh here)
Here are some updated numbers for the week. 30-year prices dropped down to their lowest in the past few months, opening this morning at 4.75%. This is largely due to the fact that the markets dropped over 400 points last week alone. This will be a very active week with a lot of information scheduled for release. For starters, there was a report this morning that showed homes sales dropped 16.7%, almost double than the forecasted figure of 9.8%. There are also two scheduled treasury auctions this week in addition to a Fed meeting on Wednesday. And, of course, we find out if Fed Chairman Bernanke will be voted to a second term. So, there’s a lot going on that can impact the markets within an afternoon. Please let me know if I can help you with anything.
Thanks and have a great week.
Loan Programs on 30-Day Locks: 1/25/2010
| 30-Yr. Conv. | 15-Yr. Conv. | 30-Yr. FHA | 15-Yr. FHA | |
| Loan Amount | $200,000 | $200,000 | $200,000 | $200,000 |
| Interest Rate | 4.75% | 4.25% | 4.75% | 4.25% |
| Term/Due In (months) | 360/360 | 180/180 | 360/360 | 180/180 |
| Monthly Payment | $1,043.29* | $1,504.56* | $1,043.29* | $1,504.56* |
Figures do not include taxes, home owner’s insurance or mortgage insurance (If Applicable)
***Rates subject to change***
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