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4.25 Percent and Falling...

  • January 21st 2009

by Mark Wellborn

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Not long ago, we wrote a piece wondering if 4.5 percent interest rates would become a reality for new home owners in the near future. It now seems like that number should’ve been a little bit lower.

UrbanTurf has learned that Prosperity Mortgage, the mortgage lender associated with Long & Foster, is now offering 4.25 percent interest rates for conforming loans up to $625,000.

In an email from Wes Foster, the head of Long & Foster:

“Prosperity Mortgage has available 4.25 percent money for 30-year fixed-rate for conforming loans up to $625,000 with 25 percent down (in the high cost markets) with a total of 3 points that can be paid by the seller, buyer or split between them.”

Will we see 3 percent rates anytime soon?

See other articles related to: dclofts

This article originally published at http://dc.urbanturf.production.logicbrush.com/articles/blog/4.25_percent_and_falling/459.

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