30-Year Fixed Mortgage in the Low 5% Range Today For Qualified Borrowers

June 22, 2009

Daily Mortgage Updates

A&N Mortgage Logo22 June 2009 ? This morning mortgage backed bonds are in the positive territory while stocks are down. The mortgage interest rates have been extremely volatile over the past 3 weeks ranging for 4.625% to 5.75% for the 30-year fixed rate. The World Bank said unemployment and poverty will rise in developing nations and predicted a 2.9 percent contraction in the global economy this year. That compares with a prior estimate of a 1.7 percent decline. This announcement may affect mortgage rates as investors may elect to put their money into the safer investment of mortgage backed bonds which will help to bring lower mortgage rates. Today the 30-year fixed rate with 0 points would be around 5.25% with no discount points or origination fee. Remember when pricing out a mortgage rate in today?s market you will have to have accurate information to get an accurate rate quote. Your credit score, the type of property, the loan amount and your down payment are all factors that will contribute to your interest rate. We will watch closely to see if the mortgage rates can break through to head back down to around 4.875%. For many people who may have started to refinance their homes and did not lock into a rate keep an eye on rates and stay in touch with your mortgage consultant.

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About Chris DePaepe

Chris is a lifelong Chicagoan who was born and raised on the Northwest side. She has a business degree from Rosary College in River Forest and a MBA in finance from DePaul University. She has been in the mortgage industry since July of 1996 and understands the importance of educating clients about the process of purchasing or refinancing a home. Chris?s education and customer service separates her from her competition, from taking an application at 11 p.m. to doing a closing in the convenience of your home, customer service is her #1 priority! With her extensive financial education she is able to pass along critical information to potential clients about mortgage interest and the differences between a 30, 25, 20 and 15 year loan. Chris will run every amortization chart and spend a great deal of time explaining the savings on your mortgage interest by showing actual examples. Also, most first time buyers do not understand the tax advantage of owning a home and she will break that down and show the actual tax advantage of owning a home versus renting. Chris prides herself on taking the time to fully educate every buyer so they are aware of the process from the beginning to the end without any surprises. Whether you are looking to refinance or purchase a home, understanding today?s market is extremely important to getting your loan approved. You can contact Chris 24/7 at chrisd@aandnmortgage.com, 773-305-7016, or 773-848-4144.

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