Rates are currently at 4.875 at .75 point for amounts up to $417,000.  Rates on 15 year are at 4.25% at .625% points.

For loans between $417,000 and $567,500 they’re at 5.25% at 0 or 5.125 at .875% points.

Above $567,500 to $600k they are at 5.75%

I just think that rates are going to stay steady for the next few months.  Last week the Fed Chairman called for an increase of .25% in the Federal rate.  It was implied that it was an increase in the cost of funds to banks of .25%. It wasn’t.  If the discount rate had in fact been raised it would of implied a recovery.   Recovery happens once people believe it and they get out and buy goods.  The Consumer Confidence Index was down this morning.   The government wants rates to increase.  I just think you’re going to see many small corrections for the next few months.  I could be wrong.  I wish I could say to enjoy the ride.

This entry was posted on Tuesday, February 23rd, 2010 at 11:03 am and is filed under Financing/mortgages, Interest rates. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.