Eugene Home Loans, Weekly Report
Posted by Dennis Pease on Friday, December 12th, 2008 at 7:38pm.
Rates are down a bit more this Friday, (see below). And, what seemed to be a short term reduction in mortgage rates, has turned into lower rates that will be with us for some time to come. Too many factors to try and pin point a single cause, but then again it doesn't really matter. Rates are what they are, and we should be alerting our buyers that this is the time to be getting off the fence.
It's most certainly the time to begin the process, so they are ready, and have had the opportunity to be educated on what to expect, both on the finance side and during the property search phase. They should be well schooled during this time when they are holding back, thinking that things will be more in their favor at a later date. When that later date comes let's make sure they are prepared to make an educated decision quickly, and not be afraid of jumping in with both feet.
I can help with that. Nothing is more satisfying than having a client sitting a cross my desk, chocked full of questions and apprehension; and demystifying the whole process, and calming their fears. Education is the key!!! Always has been, always will be. From macro-economics to the local business outlook; it's all part of full customer service. That's what will keep them calling you. I'm here to help.
It looks like a rather crappy weekend weatherwise, but please make the best of it. Happy Holidays, and call my cell if I can help you out.
The following rates are based on 30 day locks with no discount points, as of this morning. They are not come ons, they are the rates your buyers will most likely get from a reputable lender, regardless of what is advertised. Certainly there are other specialized programs available, depending on the qualifications of the buyer.
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30 year fixed conforming = |
5.125% |
|
|
15 year = |
4.875% |
|
|
3/1 ARM = |
6.125% |
|
|
5/1 ARM = |
5.875% |
|
|
Jumbo fixed = |
5.875% |
|
|
Jumbo ARM = |
5.500% |
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|
FHA/VA 30 year fixed = |
5.500% |
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|
Prime rate is currently = |
4.000% |
Authored by Lorin Wamsley, CMPS - Senior Mortgage Consultant, Precision Funding
Phone: 541-681-8787
Dennis Pease - ReMax Integrity Real Estate Broker invites you to Search All Lane County Real Estate Listings. If you are looking for a mortgage consultant, call Lorin at the number above and tell him you saw him here.
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I hope rates come down some more. We really need the buyers to pick up a bit.
Posted on Tuesday, February 17th, 2009 at 3:21 AM.