Vermilion Realty Blog

August 17, 2009

Interest Rate Update

Filed under: Buyers, Financing, Rates — Tags: , , , — Don Grafues @ 7:07 pm

Following is a compilation of interest rate information gathered from different sources.   Please consult with a lender or mortgage broker to get the latest information.   While rate changes may not be significant, they do change from day to day.

NATIONWIDE MORTGAGE LENDING GROUP: 30 Yr Fixed Mortgage Rates 4.500% APR=4.743 POINTS=1.990 http://erate.com/AZ30.htm (via Twitter), unchanged from last week.

DIRECT LENDER: 30 Yr Fixed Mortgage Rates 4.625% POINTS=1.983 http://erate.com/AZ30.htm (via Twitter).   Rate is down 3/8 ths but points rose slightly.

FHA: 96.5% loan to value, 5.50%, 30 yr Fixed, 620 Minimum Credit Score, maximum loan $417,000, uunchanged from last week.

CONFORMING MORTGAGES: primary & 2nd homes: 5.25% 30 year fixed, 4.75% 15 year fixed, down 1/8 th from last week.

First Time Home Buyer Frenzy

Filed under: Buyers, Financing — Tags: , , — Don Grafues @ 2:55 pm

The finance and economics Blog named “Calculated Risk” has an interesting post on the rush of 1st time home buyers to capture the $8,000 tax credit that expires at the end of November.   They report that 43% of second quarter home purchases were made by first time buyers.   You can read the entire blog post here.

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