Last Updated On: Friday, Feb 12, 2010

The rates and APR above are based upon the following assumptions: a 20% down payment, $1,500 in finance charges, and 30 days prepaid interest, 1 point, and a 60 day rate lock. The rates and APR will vary depending upon the actual down payment percentages, points and fees for your transaction. Rates are subject to change without prior notice and may vary with your unique credit history, and terms of your loan. Property taxes and homeowners insurance are estimates and subject to change.
CT Licensed 1st & 2nd Mortgage Lender/Broker 15524, 15525 – MA Licensed Mortgage Lender/Broker MC3299, MC3326 -
Licensed by the NH Banking Dept Mortgage Banker/Broker 11083MB – RI Licensed Lender/Loan Broker 20051918LL, 20051919LB – NY Licensed Mortgage Banker-NYS Banking Department LMBC 106535

All information provided is deemed reliable but is not guaranteed and should be independently verified.

Last Updated On: Feb 5, 2010

The rates and APR above are based upon the following assumptions: a 20% down payment, $1,500 in finance charges, and 30 days prepaid interest, 1 point, and a 60 day rate lock. The rates and APR will vary depending upon the actual down payment percentages, points and fees for your transaction. Rates are subject to change without prior notice and may vary with your unique credit history, and terms of your loan. Property taxes and homeowners insurance are estimates and subject to change.
CT Licensed 1st & 2nd Mortgage Lender/Broker 15524, 15525 – MA Licensed Mortgage Lender/Broker MC3299, MC3326 -
Licensed by the NH Banking Dept Mortgage Banker/Broker 11083MB – RI Licensed Lender/Loan Broker 20051918LL, 20051919LB – NY Licensed Mortgage Banker-NYS Banking Department LMBC 106535

All information provided is deemed reliable but is not guaranteed and should be independently verified.

Last Updated On: Jan 29, 2010

The rates and APR above are based upon the following assumptions: a 20% down payment, $1,500 in finance charges, and 30 days prepaid interest, 1 point, and a 60 day rate lock. The rates and APR will vary depending upon the actual down payment percentages, points and fees for your transaction. Rates are subject to change without prior notice and may vary with your unique credit history, and terms of your loan. Property taxes and homeowners insurance are estimates and subject to change.

All information provided is deemed reliable but is not guaranteed and should be independently verified.

Last Updated On: Thursday, January 21, 2010

The rates and APR above are based upon the following assumptions: a 20% down payment, $1,500 in finance charges, and 30 days prepaid interest, 1 point, and a 30 day rate lock. The rates and APR will vary depending upon the actual down payment percentages, points and fees for your transaction. Rates are subject to change without prior notice and may vary with your unique credit history, and terms of your loan. Property taxes and homeowners insurance are estimates and subject to change.

Last Updated On: Friday, January 15, 2010

The rates and APR above are based upon the following assumptions: a 20% down payment, $1,500 in finance charges, and 30 days prepaid interest, 1 point, and a 30 day rate lock. The rates and APR will vary depending upon the actual down payment percentages, points and fees for your transaction. Rates are subject to change without prior notice and may vary with your unique credit history, and terms of your loan. Property taxes and homeowners insurance are estimates and subject to change.

Last Updated On: Friday, Jan 07, 2010

The rates and APR above are based upon the following assumptions: a 20% down payment, $1,500 in finance charges, and 30 days prepaid interest, 1 point, and a 60 day rate lock. The rates and APR will vary depending upon the actual down payment percentages, points and fees for your transaction. Rates are subject to change without prior notice and may vary with your unique credit history, and terms of your loan. Property taxes and homeowners insurance are estimates and subject to change.

Last Updated On: Friday, December 30, 2009

The rates and APR above are based upon the following assumptions: a 20% down payment, $1,500 in finance charges, and 30 days prepaid interest, 1 point, and a 60 day rate lock. The rates and APR will vary depending upon the actual down payment percentages, points and fees for your transaction. Rates are subject to change without prior notice and may vary with your unique credit history, and terms of your loan. Property taxes and homeowners insurance are estimates and subject to change.

CT Licensed 1st & 2nd Mortgage Lender/Broker 15524, 15525 – MA Licensed Mortgage Lender/Broker MC3299, MC3326 -

Licensed by the NH Banking Dept Mortgage Banker/Broker 11083MB – RI Licensed Lender/Loan Broker 20051918LL, 20051919LB – NY Licensed Mortgage Banker-NYS Banking Department LMBC 106535

All information provided is deemed reliable but is not guaranteed and should be independently verified.

Last Updated On: Friday, December 21, 2009

The rates and APR above are based upon the following assumptions: a 20% down payment, $1,500 in finance charges, and 30 days prepaid interest, 1 point, and a 60 day rate lock. The rates and APR will vary depending upon the actual down payment percentages, points and fees for your transaction. Rates are subject to change without prior notice and may vary with your unique credit history, and terms of your loan. Property taxes and homeowners insurance are estimates and subject to change.
CT Licensed 1st & 2nd Mortgage Lender/Broker 15524, 15525 -

All information provided is deemed reliable but is not guaranteed and should be independently verified.

The Treasury unveiled a major new program on Monday which will establish public/private partnerships to purchase up to $1 trillion in troubled assets from banks. The program was well received by investors, and the news produced a large rally in the stock market. Significant to the mortgage market, removing these assets from banks’ balance sheets should free up room for additional investments in mortgage loans.

This week’s news in the housing sector was positive for a change. February Existing Home Sales rose 5% from January. Inventories of unsold homes were at a 9.7-month supply, about the same as last month. February New Home Sales also rose 5%. The Mortgage Bankers Association (MBA) revised higher its forecast for loan originations in 2009. The MBA now expects $2.8 trillion in mortgage originations this year, up from about $2.0 trillion in its prior forecast. The increase was due to a projected rise in activity as a result of lower mortgage rates.

Also applying upward pressure on mortgage rates, a large fiscal stimulus plan moved closer to passage during the week. An $819 billion fiscal stimulus package passed a vote in the House, and the Senate is expected to consider its $900 billion version next week. The combined government spending for this new package, along with the TARP program, the MBS purchase program, and a proposed bank cleanup plan, will total trillions of dollars. An enormous amount of new debt will be issued to pay for all the government programs, and interest rates offered on all bonds may need to increase to attract investors. One positive note is that foreign investors continued to show strong demand for US bonds during the week.

In the housing sector, December Existing Home Sales rose 7% from November. Inventories of unsold homes dropped to a 9.3 month supply from 11.2 months in November. According to the National Association of Realtors, lower prices persuaded many buyers to step in. Existing Home Sales cover more than 85% of total home sales, so this report was very welcome news for the housing market. December New Home Sales didn’t perform as well, dropping 15% from November.

John P. Grosso
William Raveis Mortgage
47 Riverside Ave.
Westport CT 06880
(203)-221-3277 direct line
(203)-221-3278 private fax
(203)-258-9889 mobile