Mortgage Rates & Weekly Market Preview 7/9

Rates remain at all time lows ... For purchase or refinance - here are my rates for today (July 9th) ... 

• 3.625% Conventional 30 Year Fixed, No Points
• 3.000% Conventional 15 Year Fixed, No Points
• 3.375% FHA 30 Year Fixed, No Points
• 3.625% FHA 30 Year Fixed, No Points (Loan >$417,000)
• 3.375% VA 30 Year Fixed, No Points
• 3.625% VA 30 Year Fixed, No Points (Loan >$417,000)

Loan assumptions:  Loan Amount <$417,000, 25% equity, Credit Score >740, Single Family/TH, Primary Residence, No Subordinate Financing, and No Cash Out on Refinancing.  
For loans $417,001 - $625,500 Add 1/2 point for the same rate.
FHA requires minimum 3.5% down
VA Loans are available to eligible veterans with as little as ZERO Down.

Rates are subject to change at any time - This does not constitute an offer of credit - Not all applicants will qualify for the rates above.

EQUAL HOUSING LENDER

Robert F. Rosenbaum, Jr.
The Rosenbaum Lending Group
Access National Mortgage
1800 Robert Fulton Drive, Suite 350
Reston, VA 20191
(703) 879-5200 Direct
(202) 746-5937 Cellular
(703) 891-9815 Direct Fax
RRosenbaum@AccessNational.com
http://www.MyTalentedLender.com
NMLS License: 649782
Company NMLS: 408540

Forwarded exclusively by:	Bob Rosenbaum Access National Mortgage Office: (703) 879-5200 Email: RRosenbaum@AccessNational.com website: www.MyTalentedLender.com
Big enough to compete, small enough to care.
Monday, July 09, 2012
This Week; Monday opens with the 10 yr treasury not breaking out of its month-long trading range, the breakout is sending rates lower and should continue to push the 10 yr to 1.47% the reactionary low at the beginning of June. This week Treasury will auction $66B of notes and bonds; 3 yr, 10 yr and 30 yr terms on Tuesday, Wednesday and Thursday. Last Friday’s employment data was so weak that there is now a strong view in markets that the Fed will have to ease again with QE 3. That idea has pushed yields lower along with rate cuts in China and Europe last week. Recent trade has been technically stronger in the MBS markets than treasuries with the 30 yr FNMA coupon breaking into new high prices before the 10 yr note broke through.  The U. of Michigan sentiment index on Friday. Monday, one of our favorite reports, consumer credit, the pulse of spending and credit use. The week doesn’t present much key data; the minutes from the last FOMC meeting will be released Wednesday, weekly claims on Thursday is expected to decline 15K to 360K. Europe remains in the gun sights, last week not much out of the region except the ECB cutting rates. Nothing of substance from Germany, the key to the survival of the EU.
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