Daily Mortgage News & Rates
March 6, 2009
Author: Support Services, e-PRO
Daily Mortgage News
Wow rates down to 2%... thats right 2%! It the governments new 5 year arm. The borrower refinancing under the new program would be offered a rate as low as 2% for 5 years and after that the rate can be brought up gradually up to what the conforming loan rates were at the time the modification which is an average of about 5%. This is part of the Homeowner Affordability and Stability Plan.
Daily Mortgage Rates
Conventional 30 Yr. Fixed Rate: 5.375%
FHA 30 Yr. Fixed Rate: 5.50%
100% (USDA) 30 Yr. Fixed Rate: 5.75%
