Rates Lower on Third Quarter Earnings Reports from Major U.S. Companies

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Mortgage rates moved lower as earnings reports from the United States to Japan to Germany all reported declines.  It seams that no sector was safe; from U.S Steel to Target the outlook was not good.  It is would seem through the end of the year rates could move lower.

Rates as of 11/03/2008  

                     Conventional Rate                Jumbo Rates                   FHA            MSHDA

30yr Fixed                   6.375%                             N/A                        6.50%        6.75%

5/1 ARM                     5.875%                             5.875%                  N/A                N/A

7/1ARM                      6.125%                             6.125%                  N/A                N/A

Rates based on certain credit scores and down payments.  Rate subject to change.

Chuck Anway: National City Mortgage

248-921-0314 available 8AM to 11PM (EST)

chuck.anway@ncmc.com

Date: Monday, November, 17th 2008 @ 11:23:03 AM
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