Mortgage Market & Rates

Columbus Mortgage Rates: :—(…yuck!!!

People

I don’t usually send out mid day change rates but it is so drastic I need to do this.

Yesterday afternoon the mortgage market stated moving against us. There was a 2 year treasury bill auction that may have diverted money from mortgage backed securities. Consumer confidence also came out in the morning starting the ball rolling the wrong way.

Mortgage Tip of the Day: Usually, we do not order the appraisal on a transaction until the inspection is complete. Often times an inspection takes a long time because we spend so much time afterwards negotiating the deficiencies. If you have put in your contract loan approval by a certain date, all the inspection time can make that date difficult, especially when appraisers are very backed up.

Thought of the Day: Those who have changed the universe have never done it by changing officials, but always by inspiring the people.

Today’s Fun Fact: A tuna can swim a hundred miles in one day.

You know you’re From Columbus when… …you find nothing unusual about a bar called The Ugly Tuna Saloona.

Fact or Crap?: Dr. Christian Barnard performed the world’s first heart transplant in 1957.

Legal Stuff

These rates are effective as of Wed., May 27, 2009 at 11:30am. These rates can change without notice.

Fixed Rates and 10/1, 7/1 ARM rates @80% LTV, $100,000 loan amount

Bond Money Rates @ 97% LTV, $100,000 loan amount

FHA Rates @ 96.5% LTV, $100,000 loan amount

VA Rates @ 100% LTV, $100,000 loan amount

Jumbo Rates @ 80% LTV, $418,000 loan amount

30 Year Fixed APR 5.204% $544.49 Interest and Principal

30 Year Fixed Cash Out APR 5.330% $552.20Interest and Principal

15 Year Fixed APR 4.759% $771.40 Interest and Principal

15 Year Fixed Cash Out APR 4.885% $777.83 Interest and Principal

Bond Money APR 6.150% $616.94 Interest, Principal, and Mortgage insurance

FHA APR 6.193% $607.70 Interest, Principal, Mortgage insurance

VA APR 5.547% $565.46 Interest and Principal

Jumbo 30 Year APR 7.591% $2,921.82 Interest and Principal

Answer: CRAP: The operation was performed in 1967, some eight years after he performed South Africa’s first kidney transplant.

Thanks for reading!!!!

Stephen Wagner

Mortgage Lender since 1974
The Arlington Bank
4621 Reed Road
Columbus, OH 43220
Office: 614-486-9104
Cell: 614-271-0888
Fax: 614-486-4078