Athen Apaquette

Economic News & Your Friday Rate Sheet for 10.25.13

friday interest rate sheet for 10.25.13

 

The big news this week:  Worse than expected economic data on the employment front brings rates down further. Remember bad news = good for rates.

The week however ended on the upswing in rates. So we either have fast healers or short memories in bond investors…

Good News: SAVE the DATE: 1031 Exchange  seminar November 14th 630-9pm, light refreshments will be served.  Put this in your tool box for more sales and better client advocacy.

To RSVP go to… Sponsored by myself and Exeter 1031.

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About Your Friday Rate Sheet

If you have a client who is close to having an offer accepted and is nervous about rates, don’t worry because interest rates can be locked in over the weekend.

Remember we also have the float down: if rates improve more than .25% after lock-in the client gets the lower rate.

All rates are quoted at a 45 day lock in and assume a 720 credit score with 20% down except for FHA. 

1 point is 1% of the loan.

Programs quoted as having 1 point also have the option of 0 points and the option of the 0 cost loan.

Jumbo loans are loans that have a loan amount of $625,501 and above on conventional programs.

Conventional is also known as Fannie Mae and Freddie Mac financing.

If you have any questions or comments, please contact me at athena@athenapaquette.com. or call 310-218-6855.