Mortgage Market Guide - 12/15/08
Dear Mortgage Shopper,
Mike is not here right now but he called and wanted me to let you know that rates are still good. Nothing special happened today on the bond markets so basically rates stayed the same. For a thirty year fixed mortgage loans to Fannie, you'd be paying about 5.5% if you were a platnum borrower. FHA is around 5.75% for top tier FHA borrowers.
Don't believe what the press tells you. Remember, they can't sell papers or news unless its panic rich. "If it bleeds, it reads" is what they teach them in Journalism school.
Enjoy the deep discounts on mortgage rates because when the rates turn, it will be quick in the other direction.
Mikes Wife and loving assistant
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