Philadelphia Mortgage Update 09.10.12
Philadelphia Mortgage Update 09.10.12
Here’s the weekly mortgage update from Jason Griesser of Trident Mortgage:
- Mortgage rates were fairly steady this week.
- Early in the week there was some pressure on rates due to an aggressive new aid plan announced by the European Central Bank.
- Then yesterday an overall disappointing jobs report brought rates right back where they were when the week began.
- Overall rates remained unchanged at week’s end.
- Interest rates should also remain at these lower levels due to stronger indications by the Federal Reserve that they will perform another round of easing. This ‘easing’ would include buying mortgage bonds which will keep demand for this investment high – and thus low interest rates.
- I took a look at where we were at the beginning of fall 2011 in rates – and we were at 3.875% on the 30yr with 0 points. We remain at 3.5% with 0 points today…just an incredible opportunity for all our home buyers! Long term fixed rates in the mid-3’s.
Get daily Twitter updates from Jason by following @MortgageBankrPA
Jason F. Griesser, CMB
Trident Mortgage Company
NMLS# 137179
Ph: 215-440-2073 | Fx: 610-650-5611
[email protected]
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Blog post compliments of CenterCityTeam’s Philadelphia Real Estate Blog
Frank L. DeFazio, Esquire
Prudential Fox & Roach Realtors – Society Hill
530 Walnut Street, Suite 260
Philadelphia, PA 19106
215.521.1623 Direct
610.636.4364 Cellular
888.308.1148 Fax
[email protected]
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