Quick Tips:
August 2010
•New Home Sales Rise 23%! Sales of new one-family homes in the United States jumped in June after plunging to a record low the previous month, government data showed Monday. The Commerce Department said sales increased 23.6 percent to 330,000 units from the May rate of 267,000, which has been revised lower from the previous rate of 300,000.
Source: (The Commerce Department)
•Fannie Mae Mortgage backed securities are down 3 basis points on the day, leading towards stable interest rates for today and tomorrow.
•15 year fixed interest rates are now as low as 4.000% with -0- points, while 20 and 30 year fixed interest rates are as low as 4.250% and 4.500% respectively.
•5/1 and 7/1 ARM rates are still very attractive and are now as low as 3.500% with -0- points and 3.750% with -0- points respectively.
•Interest rates for jumbo loan programs remain very attractive at 4.000% for a 5/1 ARM, 4.125% for a 7/1 ARM, and 5.000% for a 10/1 ARM, all with -0- points.
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