The average 30 year fixed (under $417,000) loan is 6.25% no points. The average 15 year fixed ($under $417,000) is around 6% no points. The rates popped down mid week and then flattened out around 1/8 lower than last week. Due to unemployment speculation, reduced fear of inflation, bond prices and consumer spending….no one knew where to go.

     You will still get a lower interest rate on a fixed rate mortgage rather than an adjustable rate loan. Beware of the new option ARMS to be flooding the market disguised as a pseudo fixed rate. More on that as I get the info in directly from the lender sources. Have a great weekend and do not forget to guess where I will be next week. The hints are so easy. Remember Blackberry 24/7 and cell service is everywhere!!