Mortgage update
This is from Scott Hackbarth, one of the loan brokers I like to work with:
The financial markets are back in full swing this after the long holiday weekend. The long weekend seems to be just what the battered bond market needed, while Stocks are getting off to a sluggish start due to concerns for the overall global recovery. We saw that last weeks Job Report showed unemployment at a 26 year high for the US, and unemployment is Europe isn’t much better, at its highest level in a decade. This news should help Stocks slide lower and bonds regain some momentum, helping to lower mortgage rates.
30 year fix’d rates (0708//09)
FHA Conforming 5.25%
FHA Jumbo Conforming 417k – 729K 5.375%Conforming 5.0%
Jumbo Conforming 417k – 729k 5.25%Jumbo 729K to 900k = 6.0%
Rates are subject to change.
It’s critical to have a great loan pro on your real estate “team”.
I see deals every day that fall apart due to problems related to loans.
Contact Scott Hackbarth
or call 510 299-4202
