Mortgage and Interest rates Info

General Mortgage Information

Buy now while Mortgage rates are still relatively low. Where they'll go is anybodies guess. Over the past
several months we've seen loan rates inching upward. The past few weeks rates have gone back down
some.

Mortgage Loan Statistics:
Todays average on a 30 yr is 5.85%
15 yr is 5.57%

These are average rates. Please shop around for the best rate and terms.

Mortgage Application Process

Shop around. Interest rates have been inching upwards, only to retreat some. If you can lock in an interest
rate below 6% you may want to jump on it. The number of loans written is declining. Mortgage lenders may be
interested in cutting their fees or points in order to get your business. While ARMs have enabled many buyers
to enjoy lower payments in the early years of the loan, many are coming into that phase where the interest
rate will be jumping - and payments go up accordingly. We strongly urge you to consider a more conventional
fixed rate mortgage.