Tag Archives: Edina Realty

Mortgage rates hit record low of 3.94%: Freddie


Mortgage rates hit record low of 3.94%: Freddie.

Report from HousingWire that the 30 year fixed rate mortgage average is down to 3.94%.

The average rate for a conventional 30-year, fixed-rate mortgage dropped below 4% for the first time in history amid increasing global concerns, according to Freddie Mac.

Today’s rates from Edina Realty nudged up a bit from yesterday, I suspect these will dip back down.

Today’s Mortgage Rates

The current interest rates shown below are based on a purchase of a single-family, primary residence. For current refinance rates, contact us

as of 10/06/2011 09:35 AM Central

Product Interest Rate APR
Conforming1 and FHA1 Loans
30-Year Fixed 4.125% 4.308%
30-Year Fixed FHA 3.750% 4.550%
15-Year Fixed 3.250% 3.566%
7-Year ARM 2.875% 3.180%
5-Year ARM FHA 2.750% 2.908%
Jumbo1 Loans – Amounts that exceed conforming loan limits1
30-Year Fixed 4.375% 4.518%
 Equal Housing Lender

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Fox News interviews my boss, Ron Peltier, Chairman and CEO of HomeServices of America


Ron Peltier is Chairman and CEO of HomeServices of America was interviewed on Fox News. ( HomeServices of America spun out of Edina Realty and owns many real estate companies including Edina Realty around the country.)

Apparently Ron follows my blog closely.  He did however touch on the subject of lending standards which I want to get into at some point here on my blog.

Click on watch interview

 

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Edina Realty Mortgage Rates: Sept 08, 2011


Mortgage

Image by Rev Dan Catt via Flickr

It is really hard to believe that rates are this low.  If you are sitting on the sidelines contemplating owning vs renting or refinancing…  start the process now – even if you don’t commit, at least get the answers.  Sit down with a mortgage banker and take advantage of these rates. 

I don’t know how long this will last, watch the 10 year Bond and watch the fluctuations.  The 10 year Bond is a good benchmark on where rates are going, the mortgage rates track closely but not tied directly to the 10 year Bond.  

 These are today’s rates from Edina Realty Mortgage:

 

 

30yr Fixed Conforming

Interest Rate

4.125%

APR

4.308%

30yr Fixed FHA

3.875%

4.682%

15yr Fixed Conforming

3.250%

3.566%

7yr ARM Conforming

2.875%

3.180%

5yr ARM FHA

2.750%

2.908%

30yr Fixed Jumbo

4.250%

4.392%

Rates as of 9/8/2011 9:19 AM Central

Important disclosures, assumptions
and APR View/print

Get more rates »

Rates provided by: Edina Realty Mortgage

 To get more information on Edina Realty’s mortgage, rates, and pre-approvals – click here.  

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It’s a little known fact… (interesting real estate trivia)


Norm Peterson

Image via Wikipedia

Some interesting “Cliff Claven-isms” I thought I would share.  These facts came from Edina Realty.

“It’s a little know fact..”

  According to the RMLS, cash sales in Minnesota rose from 17.7 percent to 25.42 percent of all transactions for January – May 2011 versus 2010.

 According to the 2010 U.S. Census, one in three Americans own their home free and clear!

 According to CreditReport.com, Minnesota ranks second in the nation with an average credit score of 707. Only South Dakota is higher at 710. The national average is 680.

 According to the Worldwide ERC (Employee Relocation Council), the national average cost for a company to relocate an employee who is selling a home and buying in their new location is $67,000 for the employer.

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