[schema type="organization" orgtype="LocalBusiness" url="http://4salebydonna.com" name="Real Estate Agent Donna Baker" description="Real Estate Agent showing homes for sale and available real estate in Monrovia, Pasadena, Arcadia the San Gabriel Valley in Southern California." city="Monrovia" state="Ca" postalcode="91016" email="donna@4salebydonna.com " phone="(626) 408-7766 "]

Floyd’s Mortgage Facts, December 5th

December 8, 2008 by · Leave a Comment 

It was Christmas 1960. The great question of the day was would I, or would I not, be lucky enough to receive the real life Roy Rogers six shooter and holster I felt I desperately wanted? There was that incident where I had told my 2nd grade teacher, Mrs. Kachuck, that my homework had blown away in a gust of wind (she let me get away with that little fib) and of course the time Johnny Boyle and I threw rocks to break the lights in the hallway but hey, in the big scheme of life, was that a big deal? Would Santa hold a grudge?

2008 has been a tough year, no doubt about it. Will the mortgage industry’s past indiscretions continue to haunt us through the Holidays and into 2009? While it is my belief that 2009 will most certainly have its challenges, I am optimistic that we can and will overcome the obstacles before us. And just like I was lucky enough to have my wish granted in 1960, this week Santa delivered an early Christmas Present to all those who have been looking for lower mortgage rates. With that in mind, here are this week’s mortgage facts:

Fact #1: Mortgage Rates finally made the move down that so many have been waiting for. As of today, a 30 Year Fannie Mae Conforming Fixed Rate is 5.25%+1.00 point! Jumbo Conforming Rates to the $625,000 loan amount are just a tad higher.

Fact #2: Mortgage lenders are gearing up for 2009. As things settle down in the marketplace those lenders still in the business are focusing on how they can make loans. Smart loans, well-secured loans, but more loans.

Fact #3: It appears that there are some signs that a few more Jumbo Loans are coming available and some at pretty good prices. We have one lender who offers a 5/1 Adjustable Rate Mortgage with a rate of 4.75%+1.00 point up to a $3 million dollar loan amount!

I hope that you this week treats you well and as we move through the month of December I wish you the best life has to offer.

All the Best!

Floyd

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