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Mortgage Rates

January 22nd, 2009 categories: Money and Mortgages

I received an email from Jeff Edwards from CS Financial and thought i’d share a little of his email with you before giving you the interest rates for the week: 

There are no significant economic reports due for release this week, but that has not meant much for mortgage rates, as they continue to trade in a volatile fashion. If you haven’t noticed, mortgage rates have moved higher over the last two weeks. We think this move has more to do with industry capacity – handling the massive surge in refinance volume – than with the market fundamentals. In the long-term we see margins compressing as capacity increases and, coupled with the continued support of the Fed’s commitment to purchasing mortgage bonds, rates trending down.
Fixed Rate Programs
Rate
Points
APR
Conforming 30 years
($0-$417,000)
4.875%
1.0
4.99%
Conforming “Plus” 30 years
($417,001-$625,500)
 5.500% 1.0 5.63%
Jumbo 30 years
($625,501-$1,000,000)
6.375

This entry was posted on Thursday, January 22nd, 2009 at 11:23 am and is filed under Money and Mortgages. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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