March 13 weekend rates

Mortgage rates held below 5% this week amid positive economic news. A Federal Reserve report showed that Americans got richer for the third straight quarter at the end of 2009. Household net worth grew 1.3% in the fourth quarter and household debt fell 1.7% for the year — the first annual decline since the Fed began the survey in 1945. In other signs of a strengthening economy, surprising data on Friday showed that retail sales are rising. FYI — The next week brings a Fed meeting, which could cause volatility to rates. ***Prosperity’s special on purchase rates with 30 day locks continues through the end of March. Remember in order to close within 30 days, we need a full pre-approval with all income and asset documentation prior to making an offer!*** ‪Here are our weekend rates for purchase loans above $150,000 for buyers with credit scores of 740 or above and a 20% down payment and a 30-day rate lock:‬‪ Conf 30 year fixed to $417,000: 4.875%Conf 30 year fixed ($417,000-$535,900): 4.875%FHA 30 year fixed: 4.875% Jumbo 30 year fixed ($528,750+): 5.375%All rates reflect 1 origination, 0 discount points. Please note rates do vary by credit score, loan amount, occupancy and loan to value.Thanks. Prepared by Emily Scarborough @ Wells Fargo.

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