Dennis' Mortgage Blog

An abbreviated update this week as I am on vacation (Golf vacation with my Dad in Colorado Springs—wow what a beautiful place); but even in the wild lands of Colorado we have internet and cell phone service so it has been a semi-working week as I keep in touch with the markets and clients.  Back in the office on Tuesday and staring down the home stretch to the start of the school year already!

The bond markets this week reacted favorably to more jobs being added to the economy in July—next month those 9,000 jobs gained will probably be revised out.  As the stock market took big losses the bonds did well in the middle of the week—giving back some today. 

Looking ahead we will still advise locking as soon as possible on all transactions to take the uncertainty and sudden jumps out of clients’ mortgage payments. 

NOTE PRICING BELOW IS BASED ON 20% DOWN FOR JUMBO LOANS AND 10% DOWN FOR CONFORMING, 3% FOR FHA, FULL DOC, AND FICOS OF 720 AND ABOVE (change from last Friday):

30 year conventional at 1 point 6.25%              ê 0.125%

30 year conforming-jumbo at 1 point 6.375%            ê  0. 25%

30 year FHA at 1 point 6.25%                                    ê  0.25%

30 year jumbo at 1 point 7.75%                                  ê    0.25%

Let me know how I can be of assistance to you, your family, friends or co-workers.  It is a great time to buy a new home!

Have a great weekend!

Dennis