Who would say that despite the Dow closing above 11,000 for first time since May 2010 and after a decline in jobs that both would allow the release of the Mortage Backed Securitie to issue aggressive rates that allow escape from it's threshold of pain..
I work at a National mortgage company, Academy Mortgage, and after congregating and talking around the water cooler in the office, it was made obvious that none of us Loan Originators noticed the mortgage/ home loan rates being so drastically low. Who knows maybe since it is a long weekend we just all weren't thinking or worried based on our knowledge of the market (It's slow around a holiday weekend. Rates stay unchanged for the most part)..
However, the rates are currently
- Conventional rates are at 3.875%
- FHA rates are at 4.00%
Of course there are some downpayment and/or credit requirements that have to be met and reviews. Let me know if you have questions or like to discuss the madness.
NMLS #: 228393