Mortgage Rates Holding Steady For Oregon Home Buyers
Posted by Dennis Pease on Saturday, May 17th, 2008 at 10:50am.
Rates are holding pretty much the same, as shown below. This morning it was reported that the April Housing Starts actually increased. Certainly not by very much, but it was an increase. The analysts had expected another decrease in the number of new homes being built. This is significant because the weak housing market has been thought to be one of the biggest contributors to the overall weakness of the economy. This turn around may be short lived, but apparently there's someone out there banking on a better market in the near future. Actually, I guess we all are, and given the knowledge we have about the power of positive thinking, it's got to be a good thing.
Okay, for the “glass half empty” folks, the University of Michigan 's Index of Consumer Sentiment came in lower than forecasted. Which essentially means that consumers were not as optimistic about their financial futures as analysts thought. Of course, if this report is solely based on consumers in Michigan , then I guess it's completely justified. No offense to you loyal Wolverines. If however, the study was done nationally, then perhaps the report says more about the analysts than it does about the consumers. Either way, I choose to be optimistic and so far so good in 2008!
My best to you always!
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 = |
5.875% |
|
|
15 year = |
5.500% |
|
|
3/1 ARM = |
5.625% |
|
|
5/1 ARM = |
5.500% |
|
|
Jumbo fixed = |
6.875% |
|
|
Jumbo ARM = |
6.500% |
|
|
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 - RE/MAX Integrity Real Estate Broker invites you to see more Florence 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 sent you.
5 Responses to "Mortgage Rates Holding Steady For Oregon Home Buyers"
Hi Jacqulyn, its good to hear Vegas is picking up. I know we never did a deal together but I lived there for 23 years and I was with RE/MAX Associates in Green Valley for years. I also know your website has always done well and I think your new look is a huge improvement. Good Luck!
Posted on Monday, February 16th, 2009 at 11:39 PM.
Its nice mortgage rates have remained low. I would still like to see them come down a little more this summer.
Posted on Monday, February 16th, 2009 at 11:40 PM.
This is a good new for mortgage brokers and realtors out there. :-)
Posted on Monday, February 16th, 2009 at 11:44 PM.
Thanks for the updates on rates, love vegas.
Posted on Monday, February 16th, 2009 at 11:50 PM.
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Home sales were up for our market in Las Vegas for April as well. Historically, from April to June usually has the highest amount of sales.
Posted on Monday, February 16th, 2009 at 11:38 PM.