Good Morning,
I hope that you had a fabulous Thanksgiving weekend with Family and Friends. I wanted to take just a quick moment to update you on mortgage rates. They dropped again last week, back to near their lowest levels that we saw at the beginning of the year. This rate opportunity is so tremendous that I wanted to make sure you knew where rates were on the most popular type of loans in case you or one of your loved ones is in need of assistance or has been holding out on moving forward on a new home purchase. Don't forget, President Obama's plan allows for these same rates as well and potentially up to 125% financing of the balance (no cash back) based on appraised value (once the loan amount exceeds 95% there are rate adjusters added). So if an appraised value might be a concern, there could potentially be options through this program as well.
Here are some rate examples on a new home purchase, as well as a no cash back refinance, for the most popular loan programs, as of the close of business on Friday, 11/27/09:
30 Year Fixed: As Low as 4.5%
15 Year Fixed: As Low as 4.25%
10 Year Fixed: As low as 4.25%
5 Year ARM: As Low as 3.75%
7 Year ARM: As Low as 4.0%
Again, these rates will stay this low for too long, so if you or someone you know could benefit from this information, I would be happy to go through a free, no obligation review of the options and solutions I would have available to help them meet their goals.
In the meantime, I hope that you have a great week ahead!
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