Monday, June 22, 2009 

Rate Update:

Fixed Conforming ($417,000 max loan - 10% dn min).........5.125%

Fixed Fha ($346,250 loan amount cap)..............................5.375%

5/1 arm Fha....................................................................4.500%

Fixed Jumbo(20% dn min)................................................5.625%

5/1 arm Jumbo(20% dn min).............................................5.000%

The above are base rates for purchase transactions. Client quotes are determined during an individual consultation taking in consideration credit score, loan amount, down payment, origination fee, points, closing cost and the lock in term which will constitute disclosing an apr and closing cost work sheet. 

Market Update:  

 "The incredible volatility continues as Bonds have managed a triple digit rally since late last week. However, Bonds are near a key ceiling of resistance and there is still heavy supply coming to the market from Treasuries as well as Mortgage Bonds from recent refinance closings. These obstacles could lead to a reversal.

In other news, Stocks are also attempting to stay above an important level, and if they are able to improve, this will add even more pressure to Bonds. And tomorrow begins the 2-day Fed Meeting with a statement being issued at 2:15pm ET on Wednesday, and this is always a potential market mover.

Watching closely to see if technical factors, supply, or the action in Stocks requires a change in direction." Adjustable rate mortgages are starting to come back into the market as an option to consider due to the current rate spread compared to fixed rates.

Rate and Market Update provided by Bank of America Senior Home Loan Officers

Kathy Vitali.......770.540.5566.......kathy.vitali@bankofamerica.com

Gary Welch......770.888.2232.......gary.welch@bankofamerica.com

For more information on Alpharetta Georgia Real Estate Values and Alpharetta Homes for Sale, visit www.MoveToAlpharetta.com today!