Greetings Hudson freaks! Friend of the blog and Mortgage Expert Matt Grant gives a chat about what rates are looking like and what can be expected!!! His contact info is below if you have questions and if you need me, I'm always around....
john@redphoenixco.com
Mortgage Market Commentary:
The probabilities are high that mortgage investors have already priced-in expectations for soft retail sales and a non-threatening inflation story for May. The end-of-the-month conclusion of the Fed’s $600 billion “QE2” fiscal stimulus program is already well reflected in the current level of mortgage note rates. So too, is all of the political wrangling surrounding the Congressional efforts to reduce deficit spending while simultaneously expanding the government’s borrowing authority. The trend trajectory of mortgage interest rates over the coming week will likely be at the mercy of stock prices. Higher stock prices will tend to push mortgage interest rates fractionally higher while lower stock prices will probably prove supportive of steady to perhaps fractionally lower mortgage rates.
Current Interest Rates:
· 30 Year Fixed 4.490%
· 30 Year Fixed (FHA) 4.250%
· 15 Year Fixed 3.750%
· 5 Year ARM 2.875%
· 7 Year ARM 3.375%
· Call or Email for JUMBO rates
*** The interest rates posted are approximate rates. Interest rates could be higher or lower depending on the loan amount, loan-to-value, credit score, debt ratio, etc.
As always, have a great week and should I be of assistance to you or your clients, don’t hesitate to email or call direct.
Thank You for the Referrals!!!
Matt Grant, MMS
NMLS #324106
Executive Vice President
Rubicon Mortgage Advisors, LLC
7101 York Ave S Suite 385, Edina, MN 55435
P (952) 921-3337 / F (952) 230-7811 / C (763) 370-0418
www.rubiconmortgageadvisors.com
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