Eugene, OR Mortgage Lenders - Weekly Updated Home Mortgage Rates
Posted by Dennis Pease on Sunday, September 21st, 2008 at 8:00pm.
Lots of talk out there right now, which, unfortunately shapes the markets. I say unfortunately only because what we hear right now has very little to do with the “long term” goals our clients should be considering. If you have had an ear to the media today you know that Congressional representatives have met with Henry Paulson, Ben Bernanke and others to try and find a solution to the huge financial crisis that seems to be looming.
However, if you've also been watching the markets at the same time, you've seen that the very fact that there has been a meeting has put the stock market back right with itself, and taken much of the gains away from the bond market. This only means that the volatility is day by day, and should definitely NOT keep home buyers out of the market.
The overall solution, to what is most certainly a daunting problem for our prosperity, is yet to be determined. But, when the investors in our economy know that things are moving forward, and a solution is in the works, the economy itself will move in the same direction. As I've told you before, it's all about the attitude, not the actual numbers.
The rates below show that long term fixed rates are holding pretty steady, though a bit higher. However, adjustable rates, which were very good last week, are no longer favored by investors.
The more I see the “powers that be” getting off their butts and actually doing something, the more I believe we are seeing the bottom of the market.
Have a terrific weekend, and please call me on my cell if you have any questions at all.
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.
|
30 year fixed conforming = |
5.875% |
|
|
15 year = |
5.625% |
|
|
3/1 ARM = |
6.125% |
|
|
5/1 ARM = |
6.375% |
|
|
Jumbo fixed = |
6.250% |
|
|
Jumbo ARM = |
7.500% |
|
|
FHA/VA 30 year fixed = |
5.875% |
|
|
Prime rate is currently = |
5.000% |
Authored by Lorin Wamsley, CMPS - Senior Mortgage Consultant, Precision Funding
Phone: 541-681-8787
Dennis Pease - Real Estate Broker invites you to see more Eugene Oregon Real Estate information and All the Area Real Estate Listings. If you are looking for a mortgage consultant, call Lorin at the number above and tell him Dennis referred you.
Print
Share3 Responses to "Eugene, OR Mortgage Lenders - Weekly Updated Home Mortgage Rates"
Hi Dennis,
Nice update, and I agree there are not that many people thinking about the long term. It is kind of depressing to know that many people don't pay attention to history, so they are likely to make the same mistakes again.
Posted on Tuesday, February 17th, 2009 at 1:53 AM.
Interesting to see where rates were at just six months ago. Today the 30 year and the 15 year rate is about the same - 4.5% for those with a great credit score. Incredible!
Posted on Friday, April 3rd, 2009 at 8:57 AM.
Leave a Comment
My Account
Log in, to view your saved searches and add to your favorite listings.
... So You Can:
- View detailed property information
- Print detailed property flyers
- Save your searches & favorite homes
- Inquire about a private showing
- Map individual property locations
- Share your favorite homes with friends
Yes, people are focusing so much on the short-term crisis they are ignoring the big picture. I think as long as people are sure to get fixed-rate mortgages with a down-payment so they can have equity invested in the house, things will be just fine.
Posted on Tuesday, February 17th, 2009 at 1:52 AM.