Outer Banks Loan Rate Update 1-11-08 from Shane Cook
Published January 12, 2008 by Shane CookCan you believe it? Legitimate rates in the 4% range are here again. I can offer 4.875% on a 5 year ARM and a 15 year fixed loan today and the 30 year fixed is showing signs of dipping below 5.5% in the next couple of weeks. FED chairman Bernanke said yesterday that he is prepared to lower rates at this months FED meeting (January 29th and 30th) to help stimulate the economy. Economists are speculating that he may even lower Federal Rates down by 1/2%, which would possibly take prime rate down to 6.75%. I think we are going to see some very attractive interest rates in the next few weeks. Buying a house and getting a mortgage hasn’t looked this good in years. Have a great weekend, and call me anytime. Always available 207-2665.
Bernanke Signals Deeper Rate Cuts, Emphasizes Faltering Economic Growth Federal Reserve Chairman Ben S. Bernanke signaled he has resolved months of debate over the competing risks of slower growth and faster inflation, and is ready to make deeper interest-rate cuts.
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: 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% of a percent for Interest Only.
Conforming: loan amount less than $417,000
Primary Residence and Second Homes
40 Year Fixed: 6.25% 0 origination
30 Year Fixed: 5.875% 0 origination
30 Year Fixed: 5.5% 1 origination
15 Year Fixed: 4.875% 1 origination
7 Year ARM: 5.25 % 1 origination
5 year ARM: 4.875% 1 origination
FHA 30 Year: 5.5 .75 origination
VA 30 Year: 5.5% 1 origination
Investment Property
30 Year Fixed: 5.625% 1 origination
5 Year ARM: 5.25% 1 origination
Jumbo Loans: Loan amounts greater than $417,000 to $1.5 Million
Primary Residence and Second Homes
30 Year Fixed: 6.5% 1 origination
15 Year Fixed: 6.0% 1 origination
10 Year Arm: 6.5% 1 origination
7 Year ARM: 6.25% 1 origination
5 Year ARM: 6.125% 1 origination
Please call for custom quotes on Jumbo Investment Property loans and on loan amounts greater than $1.5 million. These interest rates vary greatly depending on loan amount, down payment, credit score, etc.
Shane Cook
Senior Mortgage Specialist
First Horizon Home Loans
(Office) 800-256-7887
(Cell) 252-207-2665
(Fax) 866-669-5871
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