Friday Mortgage Brief - Friday, May 20th, 2011
The Friday Brief
Current Interest Rates
417K and below with 0 points 30yr fixed 4.625 FHA/VA 4.250 15yr
Fixed 3.750 5yr ARM 3.125 FHA 3.375
417-729k with 0 points 30yr fixed 4.750 FHA/VA 4.375 15yr
Fixed 3.875 5yr ARM 3.375 FHA 3.375
Home Sales May Grow Thanks to Affordable Housing International Business Times (05/20/11) Chongchua, Phoebe Housing experts predict home sales will rise between 7 and 10 percent in 2011 from last year, thanks to an improving job market, sustained economic growth and greater housing affordability. Low interest rates also are helping many transition from renting to owning in a market that is still facing a glut of distressed homes. Based on the National Association of Realtors' Affordability Index, those earning the national median income have 170 percent of the income they need to purchase a median-priced home.
From Bruce
Spend the afternoon. You can't take it with you. -Annie Dillard
Have a great weekend,
Bruce
Bruce Rosenberger
Chairman's Team
SunTrust Mortgage, Inc
Cell 703.850.1349