Below is an update on mortgage interest rates, courtesy of Matt Culp of Bainbridge Lending Group. Looking pretty good, but as Matt notes, we don't know what the long term trend on rates will be. So, these rates may be just a flash in the pan, or we could see them go lower:
We had a big drop in rates today as the mortgage market reacts to the Fed’s announcement this morning that they implementing a program to help the mortgage-backed securities market. Not really sure what the particulars are but the lenders liked it.
We are at 5.25% at 1 point on the 30 year fixed and 5.5% at no points. On Friday we were at 5.625% at 1 point and 6.0% at no points. So in a matter of a couple of days, we have had almost a .5% drop in rates.
Not sure how long this will last (we’ve seen these one day wonders before) or if they will go lower.
Matt Culp, J.D.
Mortgage Broker/Owner
Bainbridge Lending Group, LLC
510-LO-27342
206-842-7176 Direct
206-842-1444 Main
206-842-3358 Fax
206-755-6636 Cell
877-755-6636 Toll Free
About Me
- Sarah Butler Sydor
- I have identified as a runner since I was a teenager. With spine injuries starting in my mid-twenties and a serious car accident 3 years ago, I thought my running days were behind me. I woke up one day in early July 2011 and realized I was still a runner and would always be one. This blog documents my return to running.
No comments:
Post a Comment