Outer Banks Community Forum

        Good news this week.  First the FED lowered Federal Interest Rates by another .25% yesterday, taking Prime Rate down to 5%.  The big news on this is when he lowered the rate he said “The substantial easing of monetary policy to date, combined with ongoing measures to foster market liquidity, should […]

Outer Banks mortgage and loan rate update from Shane Cook
Senior Mortgage Specialist
800-256-7887/Cell 252-207-2665
 
“A pre-qualification you can trust”
Total Loan Denial Letters Issued After Pre-qualification 2005, 2006, 2007, 2008:  0
 
All quotes listed below only require 10% down, and have no private mortgage insurance (PMI), for qualified borrowers.  Quotes listed below are for 30 day locks.  Add .125% […]

Finally some sunshine is coming through today.  Let’s home for some sunny weather this weekend to bring more spring buyers down.  Rates are stable this week with some lowerings occurring this morning and into the weekend due to negative date on consumer confidence.  30 Year Fixed Rates are looking good at 5.625%.  We […]

I hope you had a nice weekend, and were able to stay dry. That is most rain I have seen in a 1 day period in a long time. I wanted to send this article to you because I think it is very interesting and in the short term is […]

      First off this week I want to tell you about two amazing programs that First Horizon has lined up for Jumbo loans.  We have arranged an exclusive portfolio ARM with rates that cannot be beat.  The rates on this program today are 5.25% for a 5 year ARM and 5.625 […]

First Horizon is rolling out some new Jumbo Loan Programs just in time for Easter Weekend (see pricing below.)  Conforming loan rates also dropped this week and we are back at quoting 5.5% on a 30 year fixed loan and 4.875% on a 15 year fixed loan (wow.)  I will be […]

Interest Rates have followed their upward trend over the past week as inflation worries continue to drive mortgage rates up.  This week interest rates for both Fixed Rate Mortgages and Adjustable Rate Mortgages increased roughly 1/2% over last weeks interest rates.  I believe this is going to continue to be the short term trend […]

This week was another one of those crazy weeks in the interest rate world. Long term interest rates are climbing quickly this week, and we have seen the Jumbo Loans get even more out of whack and some of which are showing rates increases close to 1% higher […]

Outer Banks mortgage rates as of 2-8-08 from Shane CookBig news today!  The economic stimulus package was voted on and passed this morning by Congress, and now all it needs is President Bush’s signature.  This is expected to happen early next week, and he has already said he will sign it.  […]

 Outer Banks Mortgage Rate Update 2-1-08 from Shane Cook
Rates are pretty stable this week. We should know in the next couple of weeks if Congress is going to raise the Fannie Mae limit higher than $417,000. I will keep you posted on that as we know more. Have a […]