Economic Recovery Bill

Published by julia | Filed under Market Trends, Miscellaneous, Shout Outs

As most of you know the “Economic Recovery” bill passed today. Some are calling it “The Lobbyists’ Reward” bill because what started as a 3 page document ended up over 400 pages long! So, you can imagine how many moving parts there are to the puzzle.

Some commentators have said there are even parts about the price of imported Jamaican rum, as well as the degree of safety of children’s’ toy wooden arrows! The status of the “mark to market” rules and the up tick/ short selling rule is unsure at this point. Either way, at least it is a step toward stabilization, hopefully bringing normalcy to the market very soon. In the meantime, here are some great rates for the weekend!

Mortgage Rates: 10/03/08

Loans under $417,000
(With 10 Minute Approvals & 2 Week Settlements)

30 YEAR FIXED
5.875 % + 1 PT
6.00 % + 0 PT

15 YEAR FIXED
5.75% + 1 PT
6.00% + 0 PT

3 YR ARM
5.50 % + 1 PT

5 YR ARM
5.650% + 1 PT

7 YR ARM
5.875% + 1 PT

FHA/VA
6.375% + 0 PTS (Fixed)
5.50 + 1 PT (3 YR ARM)

Karla Foxx
Tampa4U Mortgage Loan Consultant
4401 N. Himes Ave. Ste 275
Tampa, FL 33619
813-326-4291 Mobile
813-224-2264 Fax
Karla.Foxx@SunTrust.com