Recently interest rates have declined to their lowest levels since the initial drop in January, 2009. This latest reduction creates a refinance opportunity for homeowners whose current mortgage rate is in the mid 5% range or higher! If you previously considered refinancing but determined your monthly savings would not be sufficient to offset the cost, it is definitely time to take another look. It is likely that your savings will be significant. This latest reduction coupled with outstanding home pricing is also the perfect combination for that new home purchase you have been contemplating. Interest rates are volitile. Don’t miss out on this incredible opportunity. Contact your CFS Mortgage Corporation loan officer today!
The Federal Housing Finance Agency announces housing price changes for the 3rd Quarter, 2009. To view details go to:
http://www.fhfa.gov/Default.aspx?Page=84
e-Daily Rate Market Report states that Obama will provide $35B to the mortgage markets. It will go to help state and local housing finance agencies. State housing programs were hit hard by the economic crisis and forced to curtail or suspend tax-exempt bond programs that allow them to provide affordable mortgages. The time frame for $20B of the assistance may close by the end of the year. Under the program, the Treasury would make a market for tax-exempt multifamily and single-family HFA bonds by purchasing up to $20B of them through government-sponsored enterprises Fannie Mae and Freddie Mac. The administration also would provide up to $15B of liquidity to help HFAs remarket their variable-rate debt obligations
