Mortgage Rate Update
- 30-year fixed to $417,000 5.00% 0 points 5.017% APR
- 30-year fixed to $729,750 5.25% 0 points 5.271% APR
- FHA 30-year fixed to $729,750 5.00% 0 points 5.017% APR
- Jumbo 30-year fixed 5.25% 0 points 5.271% APR
Good Housing Markets News Not-So-Good Housing Markets News, but Rates Continue to Hold
The number of mortgage applications rose last week, as more homes were purchased and refinanced, a signal that the housing market may be stabilizing. As the jobless rate eases and companies continue to hire, more Americans may look to buy houses, bringing much needed stability to the industry that triggered the recession.
At the same time, a growing number of foreclosed properties continues to depress prices and may continue to hamper the housing recovery.
A report just released by housing data firm CoreLogic for the 4th quarter of last year, shows 11.1 million homes (23.1 percent of all mortgaged homes), were underwater. That’s up slightly from 22.5 percent, or 10.8 million households, in the 3rd quarter of 2010.
Mark Greene
NMLS 350534
Real Estate Mortgage Network
70 Grand Avenue, River Edge, NJ 07661
(973) 783 – 6970 cell
(201) 298 – 6888 office
(201) 621 – 4390 efax
Lisa Ziccardi, Sales Associate 