Sunday, September 28, 2008

MORTGAGE RATE INCREASE

Good Day ,

Mortgage rates have increased with most major lenders.

On average, the increase is .35% on most fixed rate terms of 3 years or greater.

Only 2 prime lenders that I know have yet to issue rate increases.

If you have recently decided to purchase, now is the time to get a rate hold. The rate hold/preapproval is available without risk, cost or obligation.

These rates are still available; however, subject to change without notice.

As of Sept 27, 2008

Prime Rate………….4.75%
Variable Rate………Prime less .45%
1 year closed……….4.80%
3 year closed……….5.35%
5 year closed……...5.04%*
7 year closed……….5.54%*
10 year closed……...5.80%*
25 year closed……...6.95%

* for mortgage of $500,000 or greater; slightly higher rates for lower mortgage amounts
Information subject to change without prior notice. APR.E.&O.E.


Please let me know if you have any questions.

Mark

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