Friday, December 12, 2008
30 Year Fixed Rate at 5.47%
Fixed rate mortgage at 4 year low. A year ago it was 6.11%. This gives chances for the borrowers with full documentation to re-fi or new purchase a good chance. Conforming mortgages have fallen to 5.12% for 740+ credit borrowers. This will not help many borrowers because their credit is weak or not sufficient equity in their house.
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