*4.25%
30 Year Fixed Rate
Normal Closing costs
*4.375%
30 Year Fixed Rate
$500 Closing Cost Special
*3.25%
5 Year ARM
Normal Closing Costs
*3.75%
15 Year Fixed Rate
Normal Closing costs
*3.875%
15 Year Fixed Rate
$500 Closing Cost Special
*4.25%
FHA/VA 30 Year Fixed
0 Points
Other loan programs available. Please call for details
TR Wise
Sales Manager
1st National Bank
7451 Mason-Montgomery Road
Mason, Ohio 45040
Office/Cell (513) 238-0999
Fax (513) 672-0479
*4.375%
30 Year Fixed Rate
Normal Closing costs
*4.875%
30 Year Fixed Rate
$250 closing costs
*4.125%
10 Year ARM
Normal Closing Costs
*3.875%
15 Year Fixed Rate
Normal Closing Costs
*4.375%
15 Year Fixed Rate
0 Points
$250 closing costs
*4.50%
FHA/VA 30 Year Fixed
0 Points
*4.375%
30 Year Fixed Rate
Normal Closing costs
*4.875%
30 Year Fixed Rate
$250 closing costs
*4.125%
10 Year ARM
Normal Closing Costs
*3.875%
15 Year Fixed Rate
Normal Closing Costs
*4.375%
15 Year Fixed Rate
0 Points
$250 closing costs
*4.50%
FHA/VA 30 Year Fixed
0 Points
It sounds like a broken record…but rates continue to stay at record levels with no sign that rates are going to increase anytime soon!
30 year fixed rates are averaging 4.75% with no points and approximately 4.50% with an origination fee (which is the rate quoted on a national basis).
The 10 year fixed w/ 30 year amortization is a great program to consider with rates at 4.25% on average! How many home buyers stay in a home or mortgage longer than 10 years?
Fixed rates are hard to pass up in this market, however this 10 year program is a great alternative to a lower monthly payment…
Have a great weekend!
Weekly Economic Summary – July 9, 2010
OVERVIEW ~ June 28 through July 2 ~ The psychology of the economic marketplace, to the extent that it can be measured, shows up in the numbers. Over the course of the week, for example, the Dow Jones Industrial Average (DJIA) fell from 10143.81 at the opening on Monday to 9640.69, presumably on growing concerns about the apparent weakness in the American economy. Until recently, it has generally been agreed that the economy would stumble forward for several months and then, at the beginning of the next year, begin to grow in a sustainable way. By Friday, however, after the release of the June employment figures, the DJIA dropped and most other data edged lower. Even the manufacturing sector, which has been one of the brightest lights in the economy in recent months, showed a weakening with the Institute of Supply Management (ISM) Index dropping from a strong 59.7 in April to 56.2 in May, and a 1.4% fall for May factory orders. In such an environment, interest rates are likely to fall, and indeed the 10-year Treasury note declined from 3.110% to 2.956%.
FOCUS ~ The employment report was treated as if it were a mid-term report card for the economy in our nation. The Thursday report of 472,000 new claims for unemployment insurance worried most investors and then the larger employment report, released Friday, caused analysts to doubt their earlier hopes for recovery and caused the markets to fall significantly.
There were 125,000 jobs lost in June. Analysts had hoped for a furthering of the positive numbers reported in the prior month. We need at least 150,000 new jobs each month to just keep up with the employment needs in our nation. In June, the economy failed even to tread water.
The unemployment rate actually declined from 9.7% to 9.5%, but this was not good news either, because the survey indicated that 652,000 capable workers had simply stopped looking for work, pulling themselves out of the so-called “labor pool.” Thus, the unemployment rate declined, not because more people found jobs, but because fewer people are looking for them.
The May employment report apparently lulled investors and analysts into a more optimistic view than it should have, largely because of the many census jobs that increased employment numbers and then swiftly fell away. A survey of American economists had resulted in a median expectation of 110,000 new jobs in June. Thus, the markets reacted strongly to the decline.
If there is any good news to be found in the week, it is the fact that overall mortgage interest rates remain even more attractive than they were before.
*4.375%
30 Year Fixed Rate
Normal Closing costs
*4.75%
30 Year Fixed Rate
$250 closing costs
*4.125%
10 Year ARM
Normal Closing Costs
*3.875%
15 Year Fixed Rate
Normal Closing Costs
*4.25%
15 Year Fixed Rate
0 Points
$250 closing costs
*4.625%
FHA/VA 30 Year Fixed
0 Points
Other loan programs available. Please call for details.
*The above interest rates are based on 80% LTV and a 30 day lock. $399 closing costs are based on loan amounts above $100,000. Loan amounts below $100,000 are subject to be slightly higher. The rates are for conforming loan amounts up to $417,000 owner occupied. The interest rates are subject to change based on market conditions and are subject to credit approval, credit scores and underwriting. Full Documentation required. . The interest rates above 80% LTV can be different based on the CLTV, credit scores, and loan programs. Please call me for more details. 1st National Bank is an equal housing lender. For Realtor/Builder use only. Loan programs and loan guidelines are subject to change without notice. Restrictions apply. The low closing cost interest rates are based on using specific title companies. If another title company is used, closing costs can be higher.
7-7-2010
TR Wise
Sales Manager
1st National Bank
7451 Mason-Montgomery Road
Mason, Ohio 45040
Office/Cell (513) 238-0999
Fax (513) 672-0479
30 YR FIXED – 4.625% – AMAZING!!!!!!!
20 YR FIXED – 4.50%
15 FIXED – 4.25%
CLOSING COSTS AS LOW AS $500 FOR PURCHASES & $250 FOR REFINANCES
FHA 30 YR FIXED – 4.50%
STANDARD CLOSING COSTS
Have a great day and rest of the week!!!
I had lunch with a Real Estate Broker today in full discussion on the lowering interest rates. During his 30 years in this industry, he has never been apart of mortgage rates at 4.5%, until today! These falling rates are incredible for buyers and sellers to take full advantage of. Our local Cincinnati Market place is still seeing a high inventory, combined with rates this low, you may never get a chance to buy so much more for so much less! See today’s rates below:
HAPPY THURSDAY!!!!
Freddie Mac said Thursday that almost all mortgage rates fell to record lows
with the 30-year fixed-rate mortgage at 4.69% with an average 0.7 point for
the week ending June 24. UNION SAVINGS BANK IS AT 4.75% w/0 PTS ON A 30 YR
TERM / 4.50% FOR 20 YRS / 4.25% FOR 15 YRS!!! In the previous period, the
average was 4.75%, and the year-ago average was 5.42%. “Mortgage rates for
all but traditional 1-year ARMs hit all-time record lows this week in our
survey while activity in housing market slowed in May following the
expiration of the homebuyer tax credit,” said Frank Nothaft, Freddie Mac
chief economist, in a statement. “Both new and existing home sales showed
unexpected declines in May. Existing sales fell 2.2%, compared to the market
consensus forecast of a 6% gain, based on figures published by the National
Association of Realtors. Sales of new homes fell 32.7% to an annualized rate
of 300,000 units, which was the largest monthly drop and slowest pace since
records began in 1963, according to the Census Bureau.”
DON’T FORGET … OUR CLOSING COSTS ARE AS LOW AS $500 (PURCHASES) & $250
(REFINANCES)
“More Than You Ever Expected from your Loan Officer!”
Kathy Lamb
KL business photo 2009 small
Union Savings Bank
Courtesy of Kathy Lamb
With rates holding this percentage, buyers moving into the market or sellers being freed up to buy must recognize NOW is the moment to move! The speculation for interest rates to move up is inevitable, and this is your opportunity to move. Seller should also be aware that low-interest rates are a great marketing piece to move their homes!
Contact Kris Cooper @ 513-519-3912 for neighborhood data along with any questions about the process of buying or selling right now.
30 YR – 4.75%
20 YR – 4.625%
15 YR – 4.25%
5/1 ARM – 4.25%
Union Savings Bank has the lowest costs in town – purchases and refinances!
Spread the word!!!
FHA – 4.75%
Kathy Lamb
Mortgage Consultant
Union Savings Bank
8534 E. Kemper Rd
Cincinnati, OH 45245
(513) 310-3301 Direct
(866) 871-1907 Fax
*4.625%
30 Year Fixed Rate
Normal Closing costs
*4.875%
30 Year Fixed Rate
$399 closing costs
*4.375%
10 Year ARM
Normal Closing Costs
*4.25%
15 Year Fixed Rate
Normal Closing Costs
*4.375%
15 Year Fixed Rate
0 Points
$399 closing costs
*4.75%
FHA/VA 30 Year Fixed
0 Points
Courtesy of T.R. Wise
Sales Manager
1st National Bank
7451 Mason-Montgomery Road
Mason, Ohio 45040
Office/Cell (513) 238-0999
Fax (513) 672-0479
