Grau Team Mortgage Wrap Up | 30F 6.375% 15F 5.750% 7/1A 5.375% [1%]
March 7, 2008
This has been quite a week for Mortgage Rates. Monday-Thursday Mortgage Backed Securities dropped -272bp. Each 40-50bp move is equivalent to .125% change in interest rates. Rates raised almost .75% in 4 days! Today we made up significant gains after the Employment Report showed Non-Farm Payrolls declined by -63,000. We have strong rates going in to this weekend and look forward to next weeks Economic Reports.
RATES for FRIDAY MAR07
30 Fixed/APR | 6.375% 6.475%
15 Fixed/APR | 5.750% 5.850%
7/1 Arm/APR [w/1%]| 5.375% 5.575%
Jumbo 5/1 Arm/APR [w/1%]| 5.625% 5.725%
The Grau Team and Cornerstone Mortgage are constantly growing our business and that of our referral partners. Please link to the Unique Marketing Experience page of my website to see how we may grow our business together. Also, if you have not closed a loan with Cornerstone Mortgage you may not know what Unique Client Experience we deliver your client.
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