If you don’t like GOOD news then don’t read this!

Mortgage rates remained at 50 year lows this week amid signs home sales are up. Both new and existing home sales rose 5% in February. First-time home buyers accounted for half of all existing home sales, according to the National Association of Realtors. Some of the added sales could be due to the new $8,000 tax credit this year for first-time home buyers. Prices are also at the lowest in years. In about half the US cities, it’s now cheaper to buy a home than to rent.

30-year mortgage averaged 4.85% for the week ending March 26, the lowest point since Freddie Mac’s weekly survey began in 1971.

Here are our weekend rates for Propsperity Mortgage:

Here are the weekend rates for purchases:

Conf 30 year fixed to $417,000: 4.5%
Conf 30 year fixed ($417,000-$535,900): 4.625%
FHA 30 year fixed: 4.5%
Jumbo 5/1 ARM ($528,750+): 5.125%

All rates reflect 1 origination, 0 discount points. Please note rates do vary by credit score, loan amount, and loan to value

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