The Japan Quake and Aftermath – Impact on Mortgage Rates. So what does this mean for mortgage rates? In the short term rates should stay low. Yesterday’s Best Execution for well qualified borrowers for FHA was 4.75%. Best Execution for conventional loans was about 4.875%. Today’s rate sheets will be better, the question is how much, because we just don’t know how long this flight to safety will continue for US treasuries.
My advice is is that if you missed the refi boom, you may have one more shot so call your loan officer and see where rates are today for tomorrow they may be higher.
First Time Home Buyer’s Mortgage Primer
Given that rates are at all time lows, many buyer’s have asked me whether first time home buyer’s can qualify for these rates. So today I want to help buyer’s understand the various programs that are available, what rates might be offered, what down payments they may need and whether mortgage insurnace would be required.