November 27, 2007

Home Mortgage Rates in Flagstaff Were the Lowest of the Year This Morning.

Stocks are up at the end of trading today taking momentum out of Bonds.

Bonds traded at their best level of the year this morning. As a result, home loan rates were great this morning. Today is an excellent time to lock any mortgages closing in the next 30 days.

We were told yesterday that there will be changes to home loan guidelines effective March 1st of 2008 for any borrower with a credit score of less than 680 and manufactured homes. With this tightening it will cost anywhere from .50% to 2.00% more to make purchases after the timeline of March 1st. So buy now and avoid the increases.

by Liz Fontanini - Certified Mortgage Planning Specialist, Wallick & Volk Mortgage Brokers
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by Liz Fontanini

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