Tuesday, December 9, 2008

Mortgage Rates Dip

Mortgage Rates fall into the mid 5's - If you are considering buying an Ann Arbor area home or Condo, now might be the time to lock in your rate.

"Conforming mortgage rates have been the primary benefactor of the Federal
Reserve's influence. The average for a conforming 30-year fixed rate
mortgage slipped to a weekly average of 5.57%, down considerably from an
October 15 recent peak of 6.75%, and well below the 6.06% seen on the date
of the announcement. As well, the 10-day string of rates below 6% represents
the longest such string since February."

Courtesy: Rick Richter, Gold Star Financial
Toll Free Direct 800-939-9808

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