Jan 12 Mortgage Market Update

30 year fixed rate 4.625%
( 4.938% APR )
30 year fixed FHA rate: 4.5%
( 4.864% APR )
Jumbo rate: 6%
Loan Amounts up to $2,000,000, 5 or 7 year fixed 30 year amortiation. LTV's up to 80%, call for more details.
(6.154% APR)
Today's News:

1. Andrew Brenner, co-head of structured products and emerging markets at MF Global noted "the new money flows are going into corporate [bonds] and mortgages."

2. Bush: will ask Congress for TARP funds if Obama asks
President Bush said Monday he'd be willing to ask Congress for the remaining $350 billion in U.S. financial bailout funds if President-elect Obama requests it. Obama's team has reportedly been talking with the White House about having Treasury Secretary Henry Paulson ask Congress for access to the fund as early as this week. At his final press conference, Bush also said he is satisfied with steps taken by his administration to get credit markets working again.