Mortgage Rates are Moving Higher
October 10, 2008
|
|
Program |
|
Rate |
|
APR |
|
LTV |
|
|
FHA 30YRFx |
|
6.250% |
|
6.411% |
|
97 |
|
|
FHA 15YRFx |
|
5.625% |
|
5.889% |
|
97 |
|
|
FHA 5/1 Arm |
|
6.250% |
|
6.411% |
|
97 |
|
|
FHA 3/1 Arm |
|
5.875% |
|
6.032% |
|
97 |
|
|
|
|
|
|
|
|
|
|
|
APR based on $250,000 purchase price and good credit. APR does not include Mortgage Insurance costs. Qualified Borrowers Only. |
|
|
|
| The stock market has recently fallen to the lowest levels since 2003 due to fears of a recession from the credit crisis. Normally Mortgage Backed Securities and Treasury markets gain during a stock market decline, but this time they have moved lower as well. One reason is that some investment funds have been forced to reduce their leverage and sell nearly every asset in their portfolios. Another factor is investor concern that the supply of debt will increase significantly to pay for all the government rescue actions.
Good News: Oil prices are plunging, falling from a high of $147 per barrel last July to around $80 per barrel this morning. |
|
|
|
|
Oscar Torres Ph: (786) 426-7789 Fx: (888) 873-1399 |
|
Entry Filed under: East Orlando Real Estate, East Orlando Real Estate Agent's Blurbs, Orlando Market Report, Orlando Real Estate. Tags: east orlando real estate.
Trackback this post | Subscribe to the comments via RSS Feed