Wednesday, October 22, 2008

Market Update

The DOW is in the 8700 range today, the 10 year Treasury is at 3.65% and the 30 year mortgage rate available for borrowers with good credit was at 6.125% today. APR 6.28%

A 15 year mortgage rate today was at 5.875%. We have not seen the 15 year mortgage rate dip below 6% for some time. APR 5.99% This is good news.

An FHA mortgage for purchase or refinance was at 6.375% for loan amounts over $100,000 and credit scores over 600. Mortgage rates remain favorable and the upward trend has reversed this week as earnings reports and other news has been released. To apply for a mortgage gather 2 years of financial statements and call 414-416-9194. We offer Wisconsin mortgage loans.

No comments: