Eugene Oregon Mortgages - Weekly Rates Update
Posted by Dennis Pease on Friday, September 5th, 2008 at 11:24pm.
Okay, first things first. If you possess any math skills at all you probably noticed in last Friday's report that I committed a faux pas in regards to the first time home buyer purchasing a $750,000 home to receive the $7500 tax credit. Obviously my math skills were called into question, but I ask your forgiveness for this, my only mistake in 2008 thus far. 
Mortgage rates were down this morning with the ugly employment report from the Labor Dept, but as the day went on the stock markets rallied and pushed mortgage rates back up. However, as you can see below, rates are better than they have been in the last 2 ½ months.
A quick update on the “seller funded down payment assistance programs” (Ameridream, Nehemiah, etc.); the few lenders who are accepting them at all, have put a closing deadline of September 30 th on these transactions. There is legislation currently in Congress to amend the previously passed bill which put an end to these programs. It is hoped that this proposed change will once again allow them. We'll have to wait and see, but don't hold your breath.
Have a great sunny weekend, and don't hesitate to call my cell phone if you or your clients need a little help.
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 = |
6.250% |
|
|
15 year = |
5.875% |
|
|
3/1 ARM = |
6.000% |
|
|
5/1 ARM = |
6.000% |
|
|
Jumbo fixed = |
6.500% |
|
|
Jumbo ARM = |
6.750% |
|
|
FHA/VA 30 year fixed = |
6.000% |
|
|
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
Share2 Responses to "Eugene Oregon Mortgages - Weekly Rates Update"
I didn't know about the $7,500 tax break. Thank you.
Posted on Tuesday, February 17th, 2009 at 1:43 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
Its pretty nice to see rates falling. It seems they have been falling for the last month or so and then after the fannie / freddie takeover they plummeted. I hope they stay down for a few months at least.
Posted on Tuesday, February 17th, 2009 at 1:41 AM.