Charleston mortgage report, February 5, 2010
Mortgage rates have once again have dropped under 5% for a 30 year fixed rate loan.
With the stock market down, the bond market up, mortgage rates once again are being offered at near historic lows.
If you are considering the purchase of a home for sale in Charleston, low mortgage rates improve your affordability. If you are "on the fence", all predictions point to higher mortgage rates later this year as the Fed is scheduled to end their purchase program of mortgage backed securities.
Wells Fargo is offering these great mortgage rates with a 30 day rate lock for home purchases.
4.750% Conforming 30 year fixed
4.250% Conforming 15 year fixed
4.875% FHA / VA 30 year fixed
3.625% 5 / 1 ARM
5.625% Jumbo 30 year fixed
Rates may vary depending on loan to value ratio and credit score. 1% Origination fee, no points.