Weekly Mortgage Rate Update | 12/12/08

Posted by Jace Stolfo on Friday, December 12th, 2008 at 6:08pm.

Interest rates are incredible right now!  This week marked the 6th consecutive week of decline.  There's been a surge of refinances as people seek the security of low fixed rates.  Please contact your lender with questions or you can find lender's I recommend here.

If you're thinking about purchasing, especially if you are looking at short sale and bank-owned real estate, make sure you get pre-qualified asap.  When we make an offer on one of these properties, a pre-qualification letter has to be included with the offer.  If you see the perfect deal, you want to be ready.

Mortgage Rates 30 Yr Fixed 15 Yr Fixed
Conventional* 5.125% 5.000%
Jumbo* 5.875% 5.875%
FHA/VA 5.500%  
IHFA 5.000%  
     
*80% LTV, Primary Residence, FICO 720+. Information subject to change & not guaranteed

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