Today’s Mortgage Rates are in the 5% to 5.25% Range for Qualified Buyers

July 22, 2009

Daily Mortgage Updates

A&N Mortgage Logo22 July 2009 ? Bonds had an excellent rally yesterday ending up 69 BPS which helped to gain back some of the previous losses. The bonds were pressured by the stock markets that had gains over the past week?the S&P and the Dow both had nice gains. Today the bond market opened down 9bps and is currently down 16bps. The bonds have levels of support and we are in an area if we can stabilize the rates can remain at the 5% to 5.25% range for the 30 year. The DOW and S&P may retreat a bit after the strong run and this morning the financial markets are weighing down on stocks after worse than expected earnings by Morgan Stanley. Wells Fargo reported good earnings but the outlook going forward comments were not that strong. The tip of the day would be to consider looking at your mortgage rate and to look to see if you can comfortably move into a 15-year or 10-year fixed rate. They are in the mid 4% range and when shortening your loan term you save thousands of dollars.

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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, 773-305-7016, or 773-848-4144.

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