Looks like the Federal Housing Administration is loosening their belts along with the rest of us following Thanksgiving Day stuffing. The rates for FHA are down considerably while conventional rates are climbing in the same period. And jumbo rates are showing signs of lowering as well. All of these items are contrary to what we think should be happening with the stock market coming off a very strong November and Dec starting off with a bang. We did have a few investors pull their rates for possible inter-day increases but on whole the rates look pretty stable.
Existing home sales also show an increase which is encouraging news. Any signs of using up the existing inventory are positive signs towards a more stable housing market.
FHA …………4.875%
Conventional…5.375%
Jumbo………..5.75%
Brian Scott
