The 5 year rate just dropped from 3.19% to 3.09%. If you are a buyer and haven't locked in a rate hold yet, you might want to do that now. Great rate!
News for buyers wanting to buy with a Home Equity Line of Credit...It looks like the loan to value will drop from 80% to 65% by the end of the year so this means if you want to buy with a line of credit, you will have to put down 35% instead of the 20% you can do now. Again, if this is your desired mortgage, then you may want to look at buying now so you can take advantage of the current 20% down payment.
The prime rate is still 3%, so those of you on a variable rate will not see any changes.
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