Wednesday, October 21, 2009

Current mortgage loan rates

Low interest rates continue to be a bright spot in the real estate landscape. Although low home prices are something we can all understand, the hugely positive affect of a low interest rate isn't as easily discernable. Even a quarter percentage point can save you many thousands of dollars over the life of the loan. Ask your lender to show you the amortization rate for loans at two different rates and you will see what I mean.

That said, here is a recap of interest rate activity for the past week, courtesy of Troy Chambers, loan officer for Arboretum Mortgage.

"Rates are back down a bit. Not quite to the level of a few weeks ago, but we are back down under 5%. I am providing these rates today, as I will be on a plane all day tomorrow. However; I will still be available all weekend, so please let me know if you need anything regarding new purchase financing or a refinance. Simply call my cell at any time at 425-418-5103, for anything you may need."

Troy Chambers
Arboretum Mortgage
Phone: 206-720-6628
Fax: 206-860-9340

Click here to see a chart of current loan types and rates.

No comments: