May 2006 Update

The average 30-year fixed mortgage rate rose from 6.58% to 6.59% over the seven-day period ended May 4, according to Freddie Mac's Primary Mortgage Market Survey.

"Mortgage rates have drifted upward for the sixth week running, which is consistent with Freddie Mac's economic forecast," said Frank Nothaft, Freddie Mac's chief economist. "We expect that mortgage rates will continue to trend upward over the coming year, but that upward trend will be modest at best."

A year ago, the average 30-year and 15-year fixed rates were 5.75% and 5.31%, respectively, and the average one-year ARM rate was 4.22%, Freddie Mac said.

Rates vary significantly based on your financial situation.  So, it is almost impossible to produce a single rate sheet that can apply to all of our potential clients. 

Let us help you get the “best” rate for you. What does that mean? Not all mortgage rates are created equal. There are fixed rates, adjustable rates, introductory “teaser” rates and all kinds of fine print that go along with each of them. We clear away the confusion and show you the rates and loan programs that you will like best. You can be certain that we will answer all of your questions so you can be confident that you have the best rate to fit your personal needs.

Our experience and vast network of lenders assures you that we can find a rate and loan program to fit your personal situation. We also want to make sure that you are an educated consumer. Don’t be fooled by low advertised rates that suck you in only to find out too late in the process that your rate will be higher. Other things to watch out for are hidden fees associated with those “teaser” rates that make those attractive rates not so attractive after all. Let us be your guide so that you can be assured that you have the best rate after all the costs are taken into account.  Please give us a call so we can make your dream rate and home a reality.

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