Mortgage Updates

Interest Rate Update


Interest rates have eased down a tiny bit over the last few weeks. Some "experts" say rates

could dip down again for a short period of time as Congress and the Senate continue to fight

and bicker over the budget and debt ceiling.

30 Year Fixed up to $417,000 3.99% to 4.25%

30 Year Fixed "Agency" up to $625,500 4.125% to 4.625%

30 Year Fixed FHA up to $417,000 3.75% to 4.0%

30 Year Fixed FHA "Jumbo" up to $729,500 3.75% to 4.125%





　

How Does This Affect You ?
It appears that the inventory of homes for sale has picked up a little bit which is a good thing.

We need the market to cool a bit so the first time buyers can get back in the game. Seems most

of the listings are being bought by all cash offers or buyers with large down payments. I have

several FHA or 5% down payment buyers who have been unable to get any offers accepted. I

still believe the next several years will be excellent for all people in our industry.