The Feds have stopped there tarp program to purchase MBS ( mortgage backed securities) this will start to drive interest rate up. If you are thinking of purchasing a home, you must act now. The tax credit is set to expire if you are not under contract by 04-30-2010. Rates have went up form there lows. A 30 yr fixed Conventional loan is 5.25% no points or 4.875 with 1. point. A FHA 30 yr fixed is 5.0% no points. For a quick prequal go to http://www.stlmortgagerates.com/ and go to quick quote.
Thank you
Dennis Sauerwein
Monday, April 5, 2010
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