Today’s Mortgage Rates Remain Steady at 5 to 5.375%

July 7, 2009

Daily Mortgage Updates

A&N Mortgage Logo7 July 2009 ? Bonds opened down today by 16 bps, however they have turned the corner and are now up 12bps. There is concern that inflation may be looming down the road as Vice President Joe Biden stated that more stimulus packages may be needed to curtail the unemployment rate. The current administration miscalculated the severity of the job losses, which have brought unemployment close to 10%. The Dow is down 106 right now, which may help the bond market and mortgage rates. The 30-year fixed rate remains around 5% to 5.375% as reported yesterday in the update. We have not been able to move below the 5% range at this time. The tip for today, did you know that you can refinance to a lower rate even if your loan to value is 105%? Consult your mortgage professional today to take advantage of the low rates and the DU Refi Plus program for Homeowner?s who have seen a decrease in property value.

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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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