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Rates On The Move…12/7/2010

Whether you are looking to buy a new home or refinance your current mortgage, there are three new programs you can’t afford to ignore. Stay tuned for more information in the coming weeks…. 

This past week rates rocketed up from their all-time lows a month ago based on some “good” economic news in the US and positive developments in the ongoing European sovereign debt crisis that soothed markets and led investors to reallocate funds from bonds into stocks driving bond yields up. Current rates are still extremely low in comparison with an average rate of 6% over the last ten years. Economic conditions can change in an instant. We strongly encourage all of our clients to get your loan applications approved and lock in these rates as soon as possible.

By the way our underwriting turn times are at 2 days compared to 3-4 weeks at big banks!

Current Conformng Rates (Pmyts based on a average loan amount of $250,000)
Loan Program  Monthly Pmyt Rate APR Points
30YF $1266 4.50% 4.52% 0
20YF $1548 4.25% 4.34% 0
15YF $1787 3.75% 3.83% 0
5/1 ARM $1105 3.375% 3.42% 0

SERVICE GUARANTEE:
WE GUARANTEE A SMOOTH LOAN ORIGINATION PROCESS OR WE WILL REFUND UP TO $495 OF YOUR CLOSING COSTS

We appreciate the opportunity to work with you on your next refinance or home purchase transaction.  Please pass this along if you think we can help any of your close friends or family.

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