Weekly Rates + Market Update

As the first full trading week in the New Year begins, more important news is coming as we look forward to Friday's Jobs Report, which will show the number of jobs lost or gained in December. Remember that the Department of Labor averages their numbers, and part of each month's report includes "revisions" to the several prior months' numbers.

The employment news last month was record-breaking: 533,000 jobs were lost during the month of November, which represented the most job losses the US has seen in 35 years. Additionally, November was only the fourth time in 58 years that our economy lost over 500,000 jobs. And adding more pain to last month's Report were heavy downward revisions for September and October, which erased an additional 199,000 jobs.

I'll be watching closely to see how Bonds and home loan rates respond to the Report...and all the other news this coming week is sure to have in store! Again, I encourage you to get in touch with me to review your own home loan scenario. We can determine together if it makes sense to consider acting on the low home loan rates currently available.

Rates for January 2nd, 2009. Rates Change Daily. Call for current pricing. #0902429
PROGRAM
30 Year Fixed Conventional 5.25%, 5.363%APR
30 Year Fixed Interest Only 6.75%, 6.863%APR
15 Year Fixed Conventional 4.75%, 4.863%APR
3/1 LIBOR ARM Conventional 5.00%, 5.113%APR
5/1 LIBOR ARM Conventional 5.25%, 5.363%APR
5/1 LIBOR ARM Interest Only 5.375%, 5.488%APR
30 Year FHA/VA 5.50%, 5.726%APR
*30 Day Locks

JUMBO $417,001+
30 Year Fixed (to $600K) 5.75%, 5.851%APR
15 Year Fixed (to $600K) 5.625%, 5.726%APR
5/1 Treasury ARM 5.375%, 5.476%APR
7/1 Treasury ARM 5.625%, 5.726%APR
*30 Day Locks

ONE-TIME CONSTRUCTION
Conforming & Jumbo (to $8,000,000)
5/1 LIBOR ARM (Conforming) 6.375%, 6.757%APR
5/1 LIBOR ARM (Jumbo) 6.625%, 7.132%APR
*60 Day Locks

6,9,12 & 24 month construction phases available. Construction phase interest only rate = PRIME (5%) + up to 1.25%. Perm. rates guaranteed through construction.
Prior to modification, a free one-time float down is available. (30 Year Amortization)

For Realtor purposes only; not for distribution to potential borrowers. Rates are calculated based on no discount points and one origination fee. Conforming rates based on loan amounts greater than $200,000, minimum FICO score.