Today’s Mortgage Rates Remain Near 5%

August 18, 2009

Daily Mortgage Updates

A&N Mortgage Logo18 August 2009 ? Today the bond market opened down 6 bps and are currently down 12 bps. Housing starts were lower than expected at 577,000 versus the 599,000 expected. Inflation is not a concern as the Producer Price Index (PPI), which measures inflation on a wholesale level, fell .9% versus .3% expected. In the past year the PPI has fallen 6.8%. This is mostly due to the decrease in oil prices this year compared to last year when a gallon of gas was over $4.50! The Dow is up 73 which is pressuring bonds, if the Dow gives back some gains that should help the bond market today. However we have had a tremendous run over the past week including yesterday. Rates remain at 5% for the 30 year fixed and 4.5% on the 15 year fixed.

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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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