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Mortgage Rates At 4.7%???

Posted on December 18th, 2008 10:15am by Candy Evans
Filed under Fannie Mae, credit crunch, mortgage/refinancing

That’s what Zillow reports, trolling (and rightfully so) for customers. Yo, local mortgage brokers, what are the rates in Dallas today? Is 4.7 fixed for thirty years, conforming or non-conforming? Points? Homestead or second/investment property? Does the Fed want us all to refinance?

One Comment to “Mortgage Rates At 4.7%???”

Ryan Craig - Intrust Mortgage @ December 18th, 2008 at 1:43 pm

30 year fixed conforming rates did bottom out at 4.375% yesterday morning. As a mortgage banker, our rates have settled into the upper 4’s. Yes, the Fed does want people to refinance, as well as get off the fence if they were thinking about purchasing. That is why they stated yesterday they would continue to buy mortgage-backed securities in order to keep rates low. All of that activity will be a huge boost for the economy!

I have had several contracts hit my desk this week from people who have been shopping for houses since early 2008.

*Non-conforming rates are a different story. These buyers or refinancers (not a word) will be in the upper 5’s, and have to be happy with an ARM for now. 30 year fixed jumbo rates are still over 7%.