Today’s Mortgage Rates Holding in Low 5s

July 31, 2009

Daily Mortgage Updates

A&N Mortgage Logo31 July 2009 ? Bonds opened up 19 bps this morning and continued to improve after a good Treasury auction; they are currently (1:45 p.m.) up 45 bps. The 30-year fixed is around 5% to 5.125% and there are no auctions next week which should stabilize the bond market and the mortgage rates should be stable. The DOW is down 24 which also is a help to the bond market. There were many bad economic reports today: GDP adjusted 1st quarter numbers were worse, Chevron and Exxon earnings were worse. Again, as stated before, the markets are volatile but with the economic situation it will take time to recover and we anticipate the mortgage rates to remain stable for the near future.

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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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