Friday Mortgage Brief - June 3rd, 2011
The Friday Brief
Current Interest Rates
417K and below with 0 points 30yr fixed 4.375 FHA/VA 4.250 15yr
Fixed 3.750 5yr ARM 2.875 FHA 3.250
417-729k with 0 points 30yr fixed 4.500 FHA/VA 4.250 15yr
Fixed 3.750 5yr ARM 3.125 FHA 3.250
Don't Believe the Doom on US Housing CNBC.com (06/03/11) Allen, Patrick Non-distressed properties sold by voluntary sellers have started to stabilize and is a sign that the worse could be over, Ajay Rajadhyaksha, the co-head of U.S. fixed income strategy at Barclays Capital, said in a research note on Friday. An increase in voluntary sales over the summer should lead to another change in the mix of homes, in favor of non-distressed sales, and the aggregate index of home prices should stop declining and could even increase. "In sum, there are many reasons to worry about the U.S. macroeconomic picture (the recent softening in the labor market, the U.S. fiscal picture, etc.) but the recent drop in U.S.
home prices should not be one of them," according to Rajadhyaksha.
Link to the full article http://www.cnbc.com/id/43263136 .
From Bruce
A goal properly set is halfway reached. Zig Ziglar
Have a great weekend!
Bruce
Bruce Rosenberger
Chairman's Team
SunTrust Mortgage, Inc
Cell 703.850.1349
Buying or Selling a Home in Northern Virginia? Visit http://www.kimdarwaza to search the MLS or contact Kim Darwaza of RE/MAX Allegiance at 703-856-2254 to set up a consultation.