Friday Mortgage Brief - Friday, July 1st 2011
The Friday Brief
Current Interest Rates
417K and below with 0 points 30yr fixed 4.625 FHA/VA 4.375 15yr
Fixed 3.750 5yr ARM 3.125 FHA 3.375
417-729k with 0 points 30yr fixed 4.750 FHA/VA 4.625 15yr
Fixed 3.875 5yr ARM 3.375 FHA 3.375
Housing Data on a More Positive Run-MBA Newlink link to full article
http://www.mortgagebankers.org/tools/FullStory.aspx?ArticleId=23855
"Two consecutive months of month-over-month growth and continued relative strength in the non-distressed market segment are positive seasonal signs in the housing market," said CoreLogic Chief Economist Mark Fleming. "Slowly declining shadow inventory and stabilized negative equity levels are also positive signs. Nonetheless, the fragile economic recovery is still critical to the long-term recovery in the housing market."
History of July 4 Celebrations
America celebrates July 4 as Independence Day because it was on July 4, 1776, that members of the Second Continental Congress <http://www.factmonster.com/id/A0194018> , meeting in Philadelphia, <http://www.factmonster.com/cgi-bin/id/A0108580.html> adopted the final draft of the Declaration of Independence <http://www.factmonster.com/cgi-bin/id/A0814928.html> .
Spontaneous Celebrations
Following its adoption, the Declaration was read to the public in various American cities. Whenever they heard it, patriots erupted in cheers and celebrations.
In 1777, Philadelphians remembered the 4th of July. Bells were rung, guns fired, candles lighted, and firecrackers set off. However, while the War of Independence <http://www.factmonster.com/id/A0803694>dragged on, July 4 celebrations were modest at best.
When the war ended in 1783, July 4 became a holiday in some places. In Boston <http://www.factmonster.com/id/A0108487> , it replaced the date of the Boston Massacre <http://www.factmonster.com/cgi-bin/id/A0808436.html> , March 5, as the major patriotic holiday. Speeches, military events, parades, and fireworks marked the day. In 1941, Congress declared July 4 a federal holiday.
Have a great July 4th Weekend!
Bruce
Bruce Rosenberger
Chairman's Team
SunTrust Mortgage, Inc
Cell 703.850.1349
Buying or Selling a Home in Northern Virginia? Contact Kim Darwaza of RE/MAX Allegiance for all of your real estate needs at 703-856-2254 or kim@kimdarwaza.com. To search the MLS please visit http://www.kimdarwaza.com.