Wednesday, October 29, 2008

Mortgage market has changed dramatically

Hello,

The mortgage market has changed dramatically, due to the financial turmoil.

Hopefully we can get through it in near future.

Please see the following up-to-date rates.

5-year closed fixed rate: 5%-4.95%, depends on mortgage amount. With big amount, it might be even lower.

Variable rate 5 year closed: Prime rate (4%).

For those of you who would like to wait for variable rate to drop, you may wish to take short-term fixed rate first.

Limited time Promotions that I have seen

: 6-month fixed rate: 4.35% or 1-year fixed rate: 4.29%

All the best,

Mark

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