With durable goods coming in lower than expected and the stock market slightly down, rates have taking a small hit. Currently, the 30 yr fix, with no points is at, 5.375. Most analyst as suggesting floating for now. When looking to lock in, I would also consider a 45 day lock. You need to check with your bank or broker on how long they are in processing and underwriting. In addition, with the new Truth-In-Lending changes going into affect on Friday, there could be delays for settlements due to new law about re-disclosure. Click here for a summary of the new law.
DC Metro Senior Loan Officer
Wednesday, July 29, 2009
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