Today’s Mortgage Rates Holding in the 4s for Well Qualified Buyers

September 3, 2009

Daily Mortgage Updates

A&N Mortgage Logo03 September 2009 ? Today the bond market opened down 16bps and are currently down 16bps. Rates have not moved?they are still at 4.875% on the 30 year and 4.375% on the 15 year for the well qualified buyer (Single Family Home, 740+ credit, 40% down). The stock market tried to stage a rally this morning but quickly gave back gains. Currently the stock market is up 28, which was expected after 4 straight days of losses. The Treasury will auction $70 billion in securities next week which is lower than recent auctions. The job losses were slightly higher at 570,000 versus 566,000 expected. Bonds are giving back some gains as would be expected after almost a month with a terrific rally to bring rates back into the 4?s. We will keep a close eye to see if bonds can hold the rally and if rates can maintain at current levels.

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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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