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Uncertainty of Stimulus Package Has Direct Impact on Mortgage Rates in Northern Virginia

February 9th, 2009 Categories: Mortgage Update, Old Town

From Rob Clark at Preferred Mortgage:

“Attached is this week’s mortgage update.  Rates increased a bit last week and closed the week at 5.375% with 0 points for a conforming loan of up to $417k.  The rates have been steadily increasing now for the past 3 weeks as Wall Street tries to determine the impact of the in-the-work stimulus package on the economy and on mortgage rates.

I expect volatility to remain fairly high until we have a definite idea on the terms and conditions of the package and will report an update once the results have been announced.”

Thanks Rob,

Michael

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This entry was posted on Monday, February 9th, 2009 at 9:34 am and is filed under Mortgage Update, Old Town. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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