Current 30 Year Fixed rates are hovering around 5.75% but can easily range between 5.5% and 6.5% depending on credit score and loan program. ARM pricing is still bad but it is getting better. The 7/1 ARM rates are about the same as 30 Year fixed rates. It should get to about a 1% lower than the 30 Year Fixed before people will take it. 100% Programs These programs are vanishing quickly. Continue Reading about Fort Mill Real Estate-Mortgage Market Update March 28 2008
Mortgage
Friday Mortgage Update for March 21 2008
I researched today's national average 30 yr fixed mortgage rates. Many online mortgage trend websites are reporting? an average rate of 5.66% (mortgage101.com, bankrate.com). Not bad after last weeks rising rate trend. Do you like roller coasters? Continue Reading about Friday Mortgage Update for March 21 2008
Charlotte Mortgages: FHA Loan Limits see big increase!
The Federal Housing Administration (FHA) has increased the loan limits for the Charlotte Metro Area. This includes YORK County, SC. This increase is a much needed expansion for FHA loans in the Charlotte market. Families needing a larger home that have limited funds for making a down payment can still get a quality fixed rate loan. FHA offers 97.75% financing, meaning that only 2.25% of the Continue Reading about Charlotte Mortgages: FHA Loan Limits see big increase!
Why are Mortgage Rates Rising?
I am getting calls every single day about the interest rates. Consumers are really confused right now because they are hearing "The Fed just cuts rates!" and then when they call a loan officer they hear "Wow, rates are going up!" How can rates go up if the Fed is cutting them?!?!? Continue Reading about Why are Mortgage Rates Rising?
