Morgage rates slightly higher

Mortgage rates rose slightly this week as the Dow reached and stayed above 9000, marking its best two-week period since March 2000. In another positive for the economy, a report showed fewer American households appear to be falling behind on their debt payments. Moody’s chief economist Mark Zandi stated that he feels very confident we are at a turning point and that “household credit conditions are set to improve significantly by this time next year.”

Freddie Mac reported the rate on the 30 year fixed mortgage averaged 5.20 %, up from 5.14% the previous week.

Here are our weekend rates for purchase loans:

Conf 30 year fixed to $417,000: 5 .1 25%

Conf 30 year fixed ($417,000-$535,900): 5.375%

FHA 30 year fixed: 5.375%

Jumbo 30 year fixed ($528,750+): 6.125%

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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