Dec
20
Market Update Monday:
Rates Rise Again
Here’s an interest rate update on behalf of Glenn Robinson of SunTrust Mortgage:
This week we saw rates rise again as investors continue to see signs of an economic recovery. I believe, as I did last week, that some of these signs may be misleading and as we look at fourth quarter numbers in the next couple of months, we may see rates trend back down to the low fours. That being said, it may be stretch to think we will see rates in the high threes again anytime soon. The bond market did rebound somewhat today (12/17) as rates had spiked earlier in the week amidst reports of decreasing unemployment, higher than expected housing starts and, better than anticipated, initial figures from major retailers. Next week is a short week and it is not uncommon to see the rates rise in the days leading up to a major holiday. Investors always seem to be gun-shy when it comes to tying up their money over a long weekend.
Rates for December 17, 2010:
- 30 Year Fixed Conventional – 4.750%
- 20 Year Fixed Conventional – 4.375%
- 15 Year Fixed Conventional – 4.125%
- 10 Year Fixed Conventional – 3.750%
FHA and VA Loans
- 30 Year Fixed – 4.625%
- 15 Year Fixed – 4.000%
- 5 Year ARM – 3.250%
- 7 Year ARM – 3.750%
*Rates change daily and restrictions do apply to all types of loans! Consult with your real estate agent and / or loan officer for more information specifically to you and your loan.
Glenn Robinson| Senior Loan Officer | SunTrust Mortgage
Phone: (404) 252-0192 | Cell: (404) 218-9872 | glenn.robinson[at]suntrust.com
Do you need a real estate specialist to help you? Call Sue Fessler: (404) 228-2691 or email: sfessler[at]morrisandraper.com.
