Mortgage rates edged down over the long weekend with the 30-year fixed rate mortgage average slipping to near 6.25%.  The jumbo and the 15-year fixed also edged down over the holiday weekend.  As I mentioned previously, any ability to grab a mortgage when the national average is near 6% was a great opportunity.  As things […]

Government sponsored entities Fannie Mae and Freddie Mac got a much needed boost today when they announced that they had sold $2 billion in short term loans.  This should allow the two companies to continue to guarantee new loans and make money.  Without the selling of debt, the two firms would remain in serious trouble […]

Last week, mortgage rates ended up slightly with the 30 year fixed mortgage rates up 6 basis points to 6.39% and the 15 year fixed rate mortgage up 9 basis points to 5.95%.  Some stability is coming back to the market and many believe that US interest rates will be going up to help curtail […]