NeWS to KnOW

Just want to keep you updated...

Mortgage rates are up for the first week of 2010, continuing the uptrend of the past four weeks. Current mortgage rates are expected to trend higher as the Fed winds down their purchases of mortgage-backed securities by the end of March 2010.

Bucking the trend of higher mortgage rates were the 30-year jumbo mortgage rates. The average jumbo rate was down to 5.875 percent this week. Current jumbo mortgage rates are their lowest in four years, though you’ll still typically pay about a percentage point more for a jumbo loan than you will on a conforming mortgage.

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