There are several changes occurring in the next few months that will impact interest rates and the cost of purchasing a home. So, do not procrastinate!
1) Upfront mortgage insurance premium on FHA will increase from 1.72% to 2.25% early April 2010
2) The Feds announced they will discontinue purchasing mortgage backed securities at the end of March 2010 - those purchases have kept rates down over the last year
3) Tax credit ending - contracts dated no later than April 30, 2010 and closing no later than June 30th, 2010
Call me to get pre-qualified and then go out and purchase a new home!
Karen Heston
Bank of Oklahoma Mortgage Group
918-488-7353
800-947-2655 x-7353
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