Georgia Mortgage Rates for December 4th, 2009.

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%.

RATE NOTES:
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

 

If you value your business then please watch this three minute video
See TBWS Video

 

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



Education is the ONLY Effective Consumer Protection

President signs the First Time Buyer Tax Credit Extension Read Story

Bill Introduced to Increase FHA Down Payment to 5.00% from 3.50 Read Story.



Justin Messer | Active Rain Confirmed Loan Officer | SEO Trainer

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Comment balloon 1 commentJustin Messer • December 04 2009 02:42PM

Comments

Justin thanks for the reblog, it is very much appreciated.

Posted by Bill Ladewig, Experience Is Your Advantage (LoanOfficerSchool.com) over 8 years ago

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