After a tumultuous week, mortgage rates and the stock market both ended the week very close to where they started. Thursday’s announcement of a comprehensive plan to bail out the financial system calmed the markets. Details are still to be worked out, but the idea is for the government to establish a rescue vehicle that will buy hard-hit securities from financial institutions.
Freddie Mac reported the average 30 year loan rate at 5.78% from 5.93%,and 6.34% a year ago.
Here are our weekend rates:
Conf 30 year fixed: 5.75%
FHA 30 year fixed: 5.75%
High Balance Conf ($417,000-$528,750): 5.75%*** with free 1% buy-down for the first year for new loans locked by September 30th (requires 20% down) ***
Jumbo 30 year: 8.75%
All rates reflect 1 origination, 0 discount points.
provided by: Prosperity Mortgage (Wells Fargo)
Filed under: Financial Corner & Rates, Real Estate | Tagged: Fiancial News, Financial Corner & Rates, interest rates |
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