Mortgage Rates Lowest Since 2004
By LC on Jan 2, 2008 in Commercial Real Estate, Financing
NEWS FLASH - MORTGAGE RATES ARE DROPPING!
Hope you had a wonderful New Year celebration!
Just wanted to give you some great news and a hot tip to start off the year with.
Mortgage interest rates have dropped significantly in the past couple of weeks, especially for so called “conforming” loans ($417,000 and under for single family homes, $533,850 and less for duplexes, $645,300 and less for triplexes, $801,950 and less for fourplexes).
The only time rates have been lower than this in the past 40 years was during a short time in 2003 and 2004.
Why is this happening now? A combination of 1) concerns that a recession is ahead, and 2) the political unease resulting from the assassination of Benazir Bhutto. The assassination and its repercussions have weighed particularly heavily on the bond and mortgage backed securities markets.
If you’d like us to take a look to see if you can save some money, give me a call at (415) 406-2330 or send an email to ed@smithcraine.com.
Here’s hoping we can save you a boatload of money to start the New Year off right!
Ed Craine is a principal in Smith-Craine Mortgage, and is a good friend and business associate. Ed is the promoter of The Strip Mall Conference, for which I have been a speaker on several occasions. He specializes in small commercial deals andis extremely customer-friendly and knowledgeable.
