Friday, March 15, 2013

Market Update and Rates

Today's Rates - 
3.625%  No Points  30 Year Fixed Conventional
2.625%  No Points  5 Year ARM Conventional
2.750%  No Points  7 Year ARM Conventional
3.250%  1 Point Lender Credit  30 Year Fixed FHA
3.250%  1 Point Lender Credit  30 Year Fixed VA
2.500%  No Points 5 Year ARM FHA

Conventional Assumptions:  $400,000 loan amount, 20% Equity, 740 Credit Score
FHA Assumptions:  $400,000 loan amount, 3.5% Equity, 740 Credit Score
VA Assumptions: $400,000 loan amount, 0% Equity, 740 Credit Score

It's still a great time to buy of refinance.  If you have an FHA loan, call me to refinance into a conventional loan with as little as 5% equity and no mortgage insurance!  

Equal Housing Lender  |  This is not an offer of credit  |  Not all borrowers will qualify

Apply Online Today - Click HERE for our secure application. 

Robert F. Rosenbaum, Jr.
The Rosenbaum Lending Group
1st Portfolio Lending Corp.
8300 Boone Blvd., Ste 200
Vienna, VA 22182
(703) 879-5200  Office
(703) 608-1110  Cellular
(703) 891-9815  Direct Fax 
NMLS License: 649782
Notary Public

Weekly Preview
Forwarded exclusively by:
Bob Rosenbaum
The Rosenbaum Lending Group
Office: (703) 879-5200
NMLS#: 649782
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Friday, March 15, 2013

This commentary has been sent to you by the Mortgage Loan Originator (MLO) above because they thought you may find it interesting or helpful. This mortgage interest rate commentary is provided for you to share with your consumers. The views and opinions offered do not necessarily represent the views of your MLO. Please contact them with any questions or to find out more about the information listed herein and how to work with them.

Weekly Wrap up and Weekend Update
As you take your buyers out house hunting this weekend, share with them that this week was a good week for mortgage rates.  Locking an interest rate is not a bad idea with many economic reports coming out next week that could cause rates to edge up a bit.  It really is a great time to buy a home as we see the housing prices starting to show signs of moving up and rates are doing the same.  We may just be seeing that "bottom" that everyone wants to get in on.  If you would like me to discuss the best time to lock in mortgage interest rates with your clients this weekend, please don't hesitate to contact me.

Good luck this weekend!


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