| | | | | | | 30-Year Mortgage Rates Drop Below 6% | | | | | | Dear E-mail, | I always appreciate your feedback about my eNewsletters. By the way, I have set up some real estate resources for you on Amazon.com. Are you: - A first time homebuyer?
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| | | | | Don't Forget! Support the Race for The Cure! | | Help me raise funds for the Race for the Cure! | | 30-Year Mortgage Rates Drop Below 6% | |  30-Year Mortgage Rates Drop Below 6% Source: USA Today, Anna Bahney (11/28/2008) Mortgage Brokers' phones rang off the hook last week as 30-year mortgage rates dropped below 6 percent. Some brokers say their rates are as low as 5.25 percent.
The rates are down because the Federal Reserve announced that it would buy $500 billion in mortgage-backed securities held by Fannie Mae and Freddie Mac. That would help the two increase the pool of money for new mortgages.
"This is really craziness," says Brian Koss, a managing director of Mortgage Network.
Koss advises borrowers who find an attractive rate to lock it in for 60 days. "Drop everything you are doing, get the mortgage professional all of the paperwork they need, so you don't run out of time," he says.
Source: USA Today, Anna Bahney (11/28/2008)
| | | | | As always, whenever YOU are ready, I am here Bringing The World Home To You™ And, if you know of someone that is looking to buy or sell, I am NEVER too busy for any of your referrals. Kind regards and happy "Home Hunting",
Broker/Owner - Mile High Home Hunter Realty 303.332.6393 MJ@MileHighHomeHunter.com On the web: | | | | | |
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