Mortgage Rates under 3.75% for the first time since WW II.

Rates had tested the 3.75% mark 4 previous times but just could not breach below this mark until today.  For the first time since WWII, 30 year fixed rate mortgages reached the 3.625% mark and there are signs that 3.50% could be the next milestone.

Rates moved lower this morning on employment news that showed that job creation may be once again slowing.  Non-farm payrolls increased by 115,000 in April which is okay and was somewhat expected but it is a far cry from the 200,000+ number shown in February.  Despite the unemployment rate dropping to 8.1%, its lowest level since 2009, Wall Street is having fears that the “recovery” may be slowing down once again.  The 10 year treasury once again fell below the 1.90% mark and is now standing at 1.87% as of this report.  If the 10 year can move below the 1.75% mark, look for 30 year fixed rates to land around 3.5%.

Purchase activity in the metro Atlanta Area has picked up quite a bit over the past two weeks with the hot purchase range being in the $150K to $250K range.  Despite the recent rise in the FHA Mortgage Insurance Premium and up front Mortgage Insurance, FHA continues to be the hot product.

Worth Taking A Look AT….FNMA 7 year ARM is currently running in the 2.625% range…If you know you won’t be in the home for 7 years, this is an option to consider.

FNMA 20yr Fixed


0.00 points

FNMA 30YR Fixed


0.00 points

FNMA 15 YR Fixed



Jumbo 30 Yr Fixed


.25 points



0.25 points



.25 points

FHA 30YR Fixed


NO Origination FEE

0.00 points

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s