I found this great blog, thanks to Jeff over at National Morgage. It is called Mortgage News Daily, you’ll find it in my blogroll moving forward.
Check out yesterday’s rate update “Wednesday 2/11…Decent Rally Yesterday in MBS” or for daily updates check out the Mortgage Watch.
Check out the latest interest rates I received from Jeff Teplitz of National City Mortgage in Williston, VT. FHA rates are slightly stronger than the conforming 30 year loan.
Paying points may be back in style. At this time the difference between the 30 year, no point loan and the 30 year 1 point is .875%. The net savings is $54.72 per $100,000 of loan amount per month.
It will only take 18 months to realize the savings of paying the 1 point. Well worth it to get a 5.00% interest rate.
