Comments on: Mortgage Rates At 4.7%??? http://dallasdirt.dmagazine.com/2008/12/18/mortgage-rates-at-47/ DallasDirt is a real estate blog with a focus on housing trends, realtor news, and photos of local fabulous homes from the editors of D Magazine Sat, 21 Nov 2009 20:12:55 -0600 http://wordpress.org/?v=2.8.4 hourly 1 By: Ryan Craig - Intrust Mortgage http://dallasdirt.dmagazine.com/2008/12/18/mortgage-rates-at-47/comment-page-1/#comment-4147 Ryan Craig - Intrust Mortgage Thu, 18 Dec 2008 19:43:39 +0000 http://dallasdirt.dmagazine.com/?p=1644#comment-4147 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%. :( 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%. :(

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