Interest Rates Just Went Up

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Posted by Park Ridge Real Estate | Posted in Market Stats | Posted on 08-04-2010

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This was reported today by the AP:

Federal Home Loan Mortgage Corporation (Freddi...
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Rates for 30-year home loans surged last week, rising to the highest level in eight months due to the improving economy and the end of a government push to keep rates low. The average rate on a 30-year fixed rate mortgage was 5.21 percent this week, up from 5.08 percent a week earlier, Freddie Mac said Thursday. That’s the highest since mid-August, when the average rate was 5.29 percent.

Most REALTORS have been banging the drum for a while about how interest rates will go up eventually and this is a start. Nonetheless, rates in the 5’s are still very low. If you have any interest at all in purchasing real estate, now is still the time. 

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HARP – Home Affordable Refinance Program

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Posted by Park Ridge Real Estate | Posted in Tax Credits and Info | Posted on 19-01-2010

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Mortgage
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Here’s an option out there for refinancing homes that have lost market value.  This brief eligibility questionnaire from the US government might be able to help.

If you are a homeowner who is current on your mortgage payments but unable to refinance to a lower interest rate because your home value has decreased, you may be able to refinance.  Click Here for the Home Affordable Refinance Program. 

Please let me know if I can be of any assistance.

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