Interest Rate Update

If your mortgage broker is telling you that rates have gotten worse, they’re right.  We actually touched the worst point of the year earlier this week.  I thought last week that the end of July/beginning of August would either mark the beginning of a slow improvement for rates or the precipitous falling to worst levels of the year.  It wasn’t really that sensational of an assumption as the markets have tended to do the same thing a majority of the time in the past.  I’m hoping that we’re closing in on the bottom and will start seeing some slow improvements. Today, you’re pretty much looking to be right around 6.625% on a 30 year fixed assuming the best of the best scenarios. 

Here are current rates: *NO POINTS CHARGED

30 year fixed* 6.625%20 year fixed* 6.5%

15 year fixed* 6.25%

30 year fixed Jumbo* 7.5%

I never charge points, broker fees and origination fees. A $495 processing fee is all I charge………….Keeping closing cost as low as possible is my goal.

 Courtesy of:

Kurt S. Ehret

ELM Financial Services, llc

Mortgage Solutions

2301 Hurstbourne Village Dr. #600

Louisville, KY 40299

502-671-0408 ext. 222

502-671-0406 (fax)

 

 

Lisiting & Sale Stats

Statistics

 

LISTINGS	Residential (Single Family & Condo)
July 14 – July 20, 2008	632
Last year	775
SOLDS
July 6 – July 12, 2008	199

Statistics

 

LISTINGS	Residential (Single Family & Condo)
July 7 – July 13, 2008	676
Last year	754
SOLDS
June 29 – July 5, 2008	274
Last year	405

 Statistics

 

LISTINGS	Residential (Single Family & Condo)
June 30 – July 6, 2008	617
Last year	665
SOLDS
June 22 – 29, 2008	292
Last year	398