Tuesday, March 18, 2008

Rates Are Dropping Again!

Just received this from one of my loan officers:

"Just a quick update to my Realtor Friends. Once again, the market is moving in a favorable direction. There has been significant economic news that has driven the price of bonds up. As I have shared in many previous emails, bonds are what drive our rates. Bonds up/ Rates down..... Bonds down/ Rates up... You know the drill. So, we are headed towards the mid 5% range on the conventional 30 yr. fixed rates again. WHO KNOWS HOW LONG THEY WILL BE THERE!!

Here are the basics for a purchase loan of 150,000. These rates are subject to change without notice:

Conv. 30 yr fixed rate - 5.75 0 discount points and 1% origination
Conv. 20 yr fixed rate - 5.50 0 + 1
Conv. 15 yr fixed rate - 4.875 0 + 1

Call for any other loan program, and let me know if I can be of any assistance.

Tom Brown
Assoc. District Manager
GMAC Mortage"

Now may be the time to buy that investment or to trade-up/trade-down! Call us at (512) 438-3772 or toll-free at (877) 268-1877 and let's talk about your options!

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