3/1/10 purchase rates with 0% points
30-yr fixed @ 5%
15-yr fixed @ 4.25%
5-yr ARM @ 4%
5-yr Interest Only @ 4.375%
FHA 30-yr fixed @ 5%
FHA 5-yr ARM @ 4.125%
30-yr fixed jumbo @ 6.5%
5-yr jumbo ARM @ 3.875%
5-yr Jumbo Interest Only @ 4.125%
Purchase rates (with optional 1% point)
30-yr fixed @ 4.75%
15-yr fixed @ 4.125%
5-yr ARM @ 3.625%
5-yr Interest Only @ 3.75%
FHA 30-yr fixed @ 4.75%
FHA 5-yr ARM @ 3.875%
30-yr fixed jumbo @ 6.25%
5-yr jumbo ARM @ 3.625%
5-yr Interest Only @ 3.875%
RATES GOING UP? - There are now just 2 months remaining (i.e., February and March) in the Fed’s program to purchase $1.25 trillion of mortgage backed securities. The program, which originally began with Fed purchases in March 2009, will stop by the end of next month. Eric Rosengren, the President of the Federal Reserve Bank of Boston, predicted last month that mortgage interest rates will rise by as much as 0.75% when the purchase program ends (source: Federal Reserve).
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Mike Jennings, Sr. Loan Consultant
Capital Financial Bancorp
Commercial & Residential Lending
1003 N Damen
Chicago, IL 60622
Office: 773.235.0111 x115
Direct: 312.493.6021
Efax: 773.496.8572
Mobile: mike@mikeshomeloans.com
-2008 Mortgage Co. of the year nomination
-2007 IAMP Mortgage Co. of the Year
-Better Business Bureau A+ rating
www.mikeshomeloans.com
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