Rates are currently at 4.875 at .75 point for amounts up to $417,000.

For loans between $417,000 and $567,500 they’re at 5.25 at .375%.

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

The unemployment numbers come in this Friday, that data will be the largest indicator this week.  The Federal Board meets tomorrow…..they shouldn’t come up with any surprises yes.  I think rates will stay steady.   Just my opinion and I could be wrong.

Since I last wrote about the proliferation of excellent neighborhood blogs, two more have sprung up right in Mary Ann’s stomping grounds of Wallingford/Green Lake. 

Wallyhood was started in January, 2009 by Wallingford resident Jordan Schwartz, and it covers local events with frequency, enthusiasm, and cheeky humor.  According to Jordan, “Fair game for the blog include neighborhood events, business openings and closings, police blotter reports, resident profiles, found objects, and pretty much anything relevant to that little area … that we call home. Story ideas may come from the Wallingford Community Council, Wallingford Chamber of Commerce, Weaving Wallingford, neighborhood gossips, meddling kids and the occasional snake oil salesman.”  I can’t say I’ve noticed any stories provided by snake oil salesmen, but I will say that Wallyhood is chock full of community information and is a must-read for any Wallingford resident who wants to be in-the-know.

It wasn’t long before Green Lake had to get in on the blogging game, which led to the birth of My Green Lake in mid-May. If you live near Green Lake (or just love it, and who doesn’t?), turn to My Green Lake to find out about new restaurants, events at local businesses, and other vital community info.

Rates are currently at 4.875 at 1 point for amounts up to $417,000.

For loans between $417,000 and $567,500 they’re at 5.25 at .75%.

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

Consumer confidence numbers came in worse than expected.  That should mean a small afternoon rate improvement.  In the next week the numbers on the employment (coming out next Friday) and consumer spending will be important.  These numbers should help show whether or not the economy is in fact improving or if it needs more stimulus.  I think they will be average and we’ll see rates improve in about 2 weeks.  Just my opinion and I could be wrong.

Rates are currently at 4.75 at 1 point for amounts up to $417,000.

For loans between $417,000 and $567,500 they’re at 5 at .75%.

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

Friday is when unemployment numbers come in.  If they get worse than what Wall Street is expecting then rates will improve.  If they get better than expected, rates will get worse.  I still think it’s going to stay steady.  Gradually leaning towards rates improving.    It’s just my opinion; I could be wrong.

Rates are currently at 4.875 at 1 point for amounts up to $417,000.

For loans between $417,000 and $567,500 they’re at 5.25 at .75%.

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

The FOMC (Federal meeting) will finish tomorrow.  Chairman Bernanke will try to give some direction on the way the market is leading.  To me it seems like he is always blowing smoke and making it appear like the market is doing better than it actually is showing.  Rates have stayed steady and probably will continue to do so, leaning toward getting a little worse.  It’s just my opinion; I could be wrong.

Rates are currently at 4.875 at 1 point for amounts up to $417,000.

For loans between $417,000 and $567,500 they’re at 5.125 at .75%.

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

Rates should keep improving depending on employment numbers.  Employment numbers are published on Friday and inflation numbers next week should help rates.  This afternoons rates could get worse based on what Bernanke estimates how the economy looks.  Again……this is just my opinion; I could be wrong.

Rates are currently at 5.125% at .875 points for amounts up to $417,000.

For loans between $417,000 and $567,500 they’re at 5.375 at .75%.

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

Rates finished well last week but they got worse at the end of the week.  This week we probably will see a very volatile market because there will be many bond auctions (if there are too many buyers than sellers rates will get worse).  My crystal ball says to wait until employment numbers a week from Friday and inflation numbers the following week.  Again……this is just my opinion; I could be wrong.

Rates are currently at 5% at .875 points for amounts up to $417,000.

For loans between $417,000 and $567,500 they’re at 5.25 at .75%.

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

Chairman Burnanke did make some major comments and they were good for interest rates.  He mentioned that the economy is slowly recovering but it appears that inflation is staying even.  New home sales and unemployment numbers come out on Thursday which should also be good for rates.

Rates are currently at 5.25% at 1.125 points for amounts up to $417,000.

For loans between $417,000 and $567,500 they’re at 5.375 at .75%.

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

Rates should start getting better after this week.  Tomorrow the Federal Board finishes their meeting and if Chairman Bernanke doesn’t make some major comment, rates should start improving next week.  There still are some major bond auctions this week which could cause some major fluctuations.

Rates are currently at 4.625% at 1.125 points for amounts up to $417,000.

For loans between $417,000 and $567,500 they’re at 4.875 at .75%.

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

Rates should start getting more aggressive above $567,500,  it’s all about buyers of bonds feeling more secure.

There have been some appraisal changes since May 1st.  Appraisals now have to be ordered through outside parties with all brokers, so most go through a national service.   Since Golf Savings is a banker broker we can use our own appraisers on a rotating basis.  We still can’t choose a particular one but we have a smaller list of choices.