11/17/08 Market Update

30 year fixed rate
5.875% @ 1 point ( 6.066% APR )

30 year fixed FHA rate:
6.25% @ 1 point ( 6.447% APR )

Jumbo rate:
Loan Amounts up to $2,000,000, 5 or 7 year fixed 30 year amortiation. LTV's up to 80%, call for more details.

6.125% @ 1 point (6.193% APR)

Down Payment Assistance is Back!!!!!

That's right Access program is back!!! It is a second at 8% or 2% above the first note rate. The second can be used to cover the down payment and/or closing costs. Up to 105% CLTV. Call for more details.

Today's News


Fannie Mae said Monday it plans to reopen its three-year and five-year notes, selling $1 billion of each maturity. Fannie Mae currently has $4 billion in five-year notes and $3.5 billion in three-year notes outstanding. Both issues are slated to price Monday for settlement Wednesday.



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