May 18th Market Update...rates keep dropping.

Good morning,

Interest rates are continuing to drop, with the stagnate housing market and a slower than expected economy (slower than many investors speculated, anyway?). It’s a great time to re-evaluate and look at whether refinancing will make financial sense or getting back on the home search wagon (I can’t remember if it’s pulled by Clydesdales or not, but either way it’s not a bad idea to try and take advantage).

That’s all I have for you today, have a great week!

Rates: 30 year fixed at 4.375% and the 15 year at 3.75%, FHA: 4.125%: As always rates change with individual credit scenarios and programs, with credit in the mid 700s and a 20% down payment these rates are what you should be seeing.

Thanks

Matt

Matt Royer Mortgage Consultant, CMC | Homes Mortgage NMLS# 366970