6.6.09 Fluctuating Interest Rates

Conforming and FHA rates hit their highest marks of 2009 at the end of this week. The range of rates had been mostly between 4.75% to 5.25% for a 30 year fixed conforming loan thusfar in 2009, but has now inched higher to between around 5.25% and 5.625%. Historically, these rates are still good, but there is a bit of volatility right now in the market, which those trying to get a loan should be aware of. Mortgage bonds dropped to their lowest levels of 2009 on Friday, and mortgage rates move in the opposite direction as mortgage bonds, thus causing the increase in rates. Feel free to contact me for current interest rate information. I work with several excellent lenders.