Georgia Mortgage Rates for December 4th, 2009.
Since November 9th, mortgage rates have continued to drop. November 25th mortgage rates hit an all time low at 4.375%. For the past 6 days straight, mortgage bonds have worsened and worsened causing mortgage rates to climb every single day. Did we see this coming? YES! Will rates continue to tick higher? YES! Will we see 4.375% again? Most likely not. Although, wouldn't it be nice to refinance your 5.5% (extremely high rate loan, HAHA) into another low 4.5% loan? YESSSS! Contact your local mortgage lender and check to see if refinancing is a good option for you. If the rates have ticked too high to benefit you, then go ahead and apply and if rates drop once again, then you will be ready to attack!
Rate Lock Advice and Mortgage Market Update.
Rate Lock Advice and Mortgage Market Update
December 4, 2009, 11:45 PT
RATE LOCK ADVISORY
Lock Advice: LOCK
MBS prices are down -17/32. After the Employment data came in stronger than expected. The economy lost just -11K jobs in November, and the Unemployment Rate fell to 10.0% from 10.2%.
When MBS prices are up, Rates are down.
Lock advice can change throughout the day .
Good economic news = Bad Rate News.
National Average Fixed Rate Mortgage
Unchanged at 4.87% on Dec.3
Fannie Mae Mortgage Backed Securities
MBS Opened at 4.544% Up 0.06%.
10 Year Treasury Currently 3.470% Up 0.08%
DJI Stocks $10,361.92, Down -4.23, -0.04%
European and Asian Markets Up 0.654%
Nymex Crude Oil Currently $75.40 Down $1.06
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Rates 12-04-09, 11:45 PT
30 Year Fixed to $417,000
Rate 4.75% Point 0.875, APR 4.884%
APR Based on $350,000 Loan at 80% LTV
Above Rate can be locked for 30 days.
Call for Quotes on FHA and VA loans With Detailed Good Faith Estimates.
No Application or Credit Report required
Bill Ladewig is a Mortgage Broker Licensed by the California Department of Real Estate 00968137
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