Monday Mortgage Update
February 25th, 2008 - Categories: Buying a home in the Dothan area, Financing
By: Ann Bourland
Lending Edge Mortgage
http://www.lendingedge.net
NOTE: I am pleased to introduce Ann Bourland with Lending Edge Mortgage as a guest here on Dothanhomesearch.com. Ann will be sharing information on the Dothan mortgage scene.
Charles Woodall
Last week as a rollercoaster ride for mortgage rates. Rates reached their highest level of the year early in the week, only to retreat late and end up almost back where they started. With the Fed cutting rates and pumping liquidity into the economy, and the government implementing fiscal stimulus programs, mortgage investors became increasingly worried that the stimulus would lead to higher inflation, which is negative for mortgage markets. This explains why 30-year mortgage rates have jumped 0.75% since the Fed’s aggressive January 22 rate cut.
Today, both conventional and FHA/VA rates are up to around 6.25%. Even though standards have been tightened in on some conventional products such as stated income, FHA loans still have relatively the same requirements. Remember, conventional loans are driven by your credit score, government backed (FHA and VA) are not.
????????????????????????????????
Contact Ann Bourland or Kim Kennedy at Lending Edge Mortgage at (334) 836?0963 or by email at aborland(at)edgeloans(dot)com
Possibly Related Posts
- Monday Mortgage Update
- Dothan Home Search is pleased to welcome Steve Russell
- Mortgage rates going up?
This entry was posted on Monday, February 25th, 2008 at 12:48 pm and is filed under Buying a home in the Dothan area, Financing. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.
