Thursday, February 3, 2011

What's The Rate Today?

Thanks Jauquin for suggesting the Go News blog as a place to provide you some  timely rate info.
His suggestion was to post regularly (weekly) what general rates are for the common loan programs. Then he planned to copy/paste the details from that post into his own email/facebook/twitter outlets. Good idea, and happy to provide some of that detail.

Here goes "What's the Rate" vol #1 published  2/3/2011

Rates have been jittery of late with the expectation that inflation is building. The Fed keeps saying its not a factor, but... have they been to the gas pump or to the grocery store? Sugar at 30 yr high prices? So much for my sweet tooth.

Tomorrow:  Monthly Jobs Report (for January)... a market mover every time. As employment gets better, the economy will recover. Therefore, rates and stocks both will rise when/if the jobs numbers are better than expectations. Stay tuned at 8:30. Most are predicting 130k to 150k new jobs and unemployment at 9.5%. Let's see how accurate the guesses are!

For today, here are some general rates.

  • 30 Yr Conventional - 4.875%

  • 30 Yr VA - 4.75%

  • 30 yr FHA - 4.75%

  • 15 Yr Conventional - 4.25%

  • 5/1 ARM - 3.5%

  • USDA (zero down) - 5%


Remember there are lots of factors that affect the final rate a buyer can achieve. (credit score, closing date, down payment, etc)

I will be in town this weekend... but by Sunday afternoon I'll be hunkered down for a good football game. Let me know how I can help with any buyers! (before game time preferably!)

-Brad

www.bradarendt.com

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