30 Year Fixed Rate Loan at a Cost of One Point: 3.625%* (APR=3.86%)
Rates shot up almost 1/4 percent yesterday. Ben Bernanke’s (Fed Chairman’s) testimony panicked the markets, as he implied that the Fed might pull back on its interest-rate support, although he did not say when.
Yesterday was one of those rare days when both bond prices AND stock prices fell.
Starting in June, FHA will require Mortgage Insurance (MI) no matter how low the loan-to-value ratio (or how big the down payment) ...