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| Rate Sheet for Tuesday, February 8, 2011
Rates Last Updated on 2/8/11, 9:30 AM CST |
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| Loan Program | Interest Rate | Lock Period | Max LTV | Credit Score | APR* |
| 95% LTV 30 Year Fixed | 5.000% | 30 | 95% | 680 | 5.093% |
| 95% LTV 20 Year Fixed | 4.875% | 30 | 95% | 680 | 5.001% |
| 95% LTV 15 Year Fixed | 4.375% | 30 | 95% | 680 | 0.125% |
| 95% LTV 5/1 LIBOR ARM | 3.500% | 30 | 95% | 680 | 3.585% |
| 96.50% LTV FHA 30 Year Fixed | 5.000% | 30 | 96.5% | 640 | 5.106% |
| 96.50% LTV FHA 15 Year Fixed | 4.250% | 30 | 96.5% | 640 | 4.430% |
| 100% LTV VA 30 Year Fixed | 5.000% | 30 | 100% | 600 | 5.106% |
*The APR is an estimate which does not include interim interest and is based on an average loan amount of $212,500. Rates and terms are subject to change at any time based on various conditions such as market conditions, loan size, property type, credit rating, occupancy type, etc.
Sample of our “state of the art” Mortgage Offers and Pre-Approval Letters!
Daily Market Watch for Tuesday, February 8, 2011 (Courtesy of Larry Baer and Market Alert )
Commentary: The credit markets are bracing for this afternoon’s $32 billion 3-year note sale. Nervousness over rising commodity prices, worries that the Fed may be acting too slow to curb inflation pressures and the compounding effects of $10 to $15 billion of higher yielding corporate bonds on the auction block this week are all serving to push mortgage interest rates fractionally higher in the day’s early going. That’s the bad news. The good news is that the relatively short duration of these three-year notes together with a yield at its highest level in six months should combine to draw a reasonably strong bid from investors. If so, this event will likely prove to be supportive of steady mortgage interest rates. In order to push mortgage interest rates fractionally lower today — the three-year note auction will need to draw blockbuster demand. While such an outcome is certainly possible – it is not very probable. I’ll provide today’s auction result on my website as soon as bidding concludes at 1:00 p.m. ET. |
| Announcements |
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 Sweetwater now has in-house underwriting on Purchase, Primary Residence transactions! This will dramatically improve underwriting turntimes! |
| We have added Texas Homeplace Mortgage as a division of Sweetwater Mortgage. Texas Homeplace will serve as our ‘small town’ mortgage division with our first branch opening in Brenham, Texas August 2010. |
| The TDSML gave Sweetwater the highest possible Compliance Rating of a “1” on our recent audit! According to the TDSML, a Compliance Rating of a “1” means “A mortgage broker in this category is in a strong compliance position”. |
| Ask about our great financing for non-warrantable condos! We are the condo experts! |
| For More Information, Please Call: | Elle Roloff-Norris (RMLO #304630) | |
| 281-970-1082 ext 2 | elle@sweetwatermortgage.com |
