Friday, October 18, 2013

This weeks Rates

Well, as you probably know by now the government put a Band-Aid on a sucking chest wound. We are back up and running and the Government shut-down is over for now, but the future is uncertain. Stock reacted positively to the news and opened higher. The bond market was helped today by weaker than expected earnings from IBM and Goldman Sachs and rates have improved. So the result is that we are back on track and interest rates are drifting lower which is great. But it seems to me that we have not avoided a crisis, we have just pushed it a little farther down the road. Our rates are below. Rate Origination Discount APR VA 30 Year Fixed 3.875% 1% 0% 4.17% FHA 30 Year Fixed 3.875% .875% 0% 5.21% USDA 30 Year Fixed 4.125% .652% 0% 4.34% CONV 30 Year Fixed* 4.375% 1% 0% 4.65% *Rates based on a sales price of $250,000, loan amount of $200,000 and credit score of 720. Quote of the Day: “When I eventually met Mr. Right I had no idea that his first name was Always." - Rita Rudner Today in History: The battle of Saratoga ends with an American patriot victory over the British in the Revolutionary War - 1777 Rates are provided for informational purposes only. This is not a commitment or offer to extend credit. All rates quotes as 30 day locks for GA properties. Rates are available to new loan applicants. Rates are subject to change without notice. All rates quoted are for purchase loans. Rates available as of 10/18/2013.