From our preferred lender Josh Hernandez at Mortex Lending:
(contact josh here)
Good afternoon All,
I hope you all had an enjoyable weekend. I figure most of you are working today, so I wanted to go ahead and send out some revised figures. Half of the banks we work with were closed yesterday, but the others were still publishing rates. The DOW finished down more than 100 points on Friday, so rates will continue to stay down through beginning of the week. This should be a fairly calm week with interest rates. There are two moderately important reports coming out on Wednesday: The Labor Department will post its Producer Price Index (PPI) and the Commerce Department will release December’s Housing Starts data. I don’t anticipate seeing any major swings unless something very unexpected comes out of these reports.
Please let me know if you have any questions or you need assistance with anything.
Have a great day
Loan Programs on 30-Day Locks: 1/18/2010
| 30-Yr. Conv. | 15-Yr. Conv. | 30-Yr. FHA | 15-Yr. FHA | |
| Loan Amount | $200,000 | $200,000 | $200,000 | $200,000 |
| Interest Rate | 4.875% | 4.25% | 4.875% | 4.25% |
| Term/Due In (months) | 360/360 | 180/180 | 360/360 | 180/180 |
| Monthly Payment | $1,058.42* | $1,504.56* | $1,058.42* | $1,504.56* |
Figures do not include taxes, home owner’s insurance or mortgage insurance (If Applicable)
***Rates subject to change***
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