From the desk of Bob Klorer:
Just like last week’s report…very quiet and very little movement in mortgage market.
Thirty year rates continue to average 4.875% for the week…
Good news early in the week from FED chairman Bernanke as he indicated that rates would remain low for an extended period of time.
Brief FHA condo update…FHA spot approval elimination once again was extended and now will not be eliminated until February 1, 2010
Have a great weekend!
There has been a lot of focus on the movement of the FHA rates this week. I blogged about it while in Colorado on Tuesday. When rates trickle to 3 month lows it opens up opportunity for many owners and buyers to discover tremendous position with whatever their Real Estate needs are. We have the best interest of our clients in mind always, with interest rates like this, it adds that much more focus to delivering this information quickly.
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