Thursday, May 5, 2011

Rents Getting More Expensive, Home Ownership Getting More Affordable.

Renting Getting More Expensive
It always hurts paying the landlord every month knowing that your money is not going towards something you own, and with rents on the rise it hurts even more. Here is a Tribune article about the increasing costs of renting. Read Article

30 Year Fixed Rates Drop To 4.750%
After holding close 5% for several weeks, the 30 year fixed rate hits 4.750%/4.792 APR this week. Remind potential home buyers that every 1.0% increase in interest rates equals a 10% decrease in borrowing power; meaning the payment for a $300,000 loan at 5% is the same as a $270,000 loan at 6%.

10 and 15 Year Fixed Rates Really Low
The 10 year fixed rate dropped to 3.375%/3.477 APR for well qualified borrowers while the 15 year fixed dipped below 4% at 3.875%/3.946 APR with -0- points.

ARM Rates at Historic Lows
Do you have buyers that may move in 5 to 7 years? Let them know how low rates are for 5/1 and 7/1 ARM mortgage loans. 5/1 ARM rates are as low as 3.0% and are at 2.50% if the buyer or seller is willing to pay 2 points.

9 Items HomeBuyers Desire In 2011
Today's home buyer wants the home they buy to have it all. Obviously finding that perfect home is not an easy thing to do. So here are the top 9 items a typical home buyer wants in 2011.
Read Article

Jumbo ARM Rates Are Still Attractive
Jumbo ARM rates get even more attractive at 3.25%/2.899 APR for a 5/1 ARM JUMBO and 3.75%/3.232 APR for a 7/1 ARM JUMBO, both with zero points.

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