Long Term Rate Probability:  VOLATILE - Fed to stop buying mortgage backed securities (MBS's) by end of March and when they stop who will buy them then, will we see 6% or higher again? If the unemployment rate keeps rising maybe not, but don't count on it. (Is that good or bad news? Depends if you have a job...).

Short Term Rate Probability: INFLATION...Ha! 30YR fixed rate has been in a narrow rut in recent months. Currently the 10yr is at 3.7784%. (10YR closed Monday @ 3.8134%). The daily movement had been up and down .125% to .25% in price changing rate until this last week. Have we seen the last of the high 4% 30 year rates...maybe so? Let's see once the end-of-year bump passes by.

But, combine what are still historically low rates with expanded purchase power, thanks to congress's extention of the homebuyer's credit on home purchases contracted no later than April 30, 2010 and closed by the end of June, and the lucky buyers can take advantage of some of the lowest prices in most of our lifetimes. Sooner or later we'll all look back at this as a geat opportunity.

Now may be the perfect time to buy the home you've always wanted. Hey fence sitters, let the current rates keep edging up and these basement rates today will look like a lost opportunity too. Foresight or hindsight? Don't waste the opportunity!

Our ZERO points means ZERO

We quote Total points!

This is very important. Companies quote "ZERO POINTS" every day in all the national ads, but it's a play on words in far too many cases. After stating they have zero points they proceed to state (if they bother at all) that it's plus a $2,500 origination fee in example and other 3rd party fees like title and appraisal (and many others). This was actually quoted on a $200,000 quote by a well known national advertiser in the fine print. 

Well, divide $2,500 by $200,000. Isn't that a 1.25% fee of that mortgage size? BUT, if it's not shown as POINTS, but a flat fee instead they  boldly advertise ZERO POINTS. Get it?

Many who play this game simply run a rate and an APR (annual percentage rate) in their ad and don't show the real origination and junk fees otherwise. How many dollars does an additional .10% APR mean to the average rate shopper? Without calculating it you won't know.

That's why the Rate VS. APR quote is used, most people don't "know it." 

 COMPLETE APPLICATIONS REQUIRED TO LOCK A RATE!

Click the Daily Rate Lock Advisor for market opinions. 

Rates are subject to change without notice according to current market conditions. All conforming quotes assume a home buyer with a 740+ mid-credit score unless posted otherwise and many options are available, and a loan amount range of $200,000 to $417,000. APR's assume 80% LTV's. Lesser or higher LTV's and loan amounts, lower credit scores, cash out transactions, properties other than owner-occupied SFR, lower or non-conforming loan amounts may effect pricing as quoted. Rates on loans that are approved and cleared to close may offer even better pricing depending on the days market. All quotes are customized to your specific loan requirements daily. You may lock a rate as soon as the appraisal is received or when cleared to close at your option. No rate recommendations are implied or suggested. Always use your own discretion or that of your financial advisor in making any loan decision.