October 2010 Rates

Rates are still volatile but trending lower after the Federal Reserve announcement last week that they may resort to further means to ease rates. They have not announce exactly what that would be but the bond markets are reacting favorably in anticipation.

Conforming 30 Year Fixed (under $417,000) are at 4% with High Balance ($417,000 to $729,750) at 4.375% and Jumbo at 5.5%. 15 Year Fixed Conforming is at 3.75%, High Balance is at 3.875% and Jumbo is at 5%.

This is an excellent time for buyers to get into a house as the affordability index is high due to these lower rates!