| The myths and the reality Myth No. 4: You can deter identity theft by writing "Ask for ID" instead of your signature on the back. You'll certainly deter use of your card, because merchants aren't supposed to accept one that's not signed on the back, and that could affect you as much as any thief. |
| Mortgage Interest Rates for Fixed Rate Mortgages* |
| Rates as of Friday, 19th February, 2010: |
| | Term | Conforming | APR | Payment per
$1,000 | Jumbo | APR | Payment per
$1,000 | | FHA - 30 yr Fixed | 360 | 5.23% | 5.378% | $5.51 | 5.25% | 5.339% | $5.52 | | FHA - 15 yr Fixed. | 180 | 4.50% | 4.748% | $7.65 | % | 0.000% | $0.00 | | Conv. - 30-Yr Fixed | 360 | 5.01% | 5.156% | $5.37 | 6.25% | 6.344% | $6.16 | | Conv. - 15-Yr Fixed | 180 | 4.33% | 4.577% | $7.56 | % | 0.000% | $0.00 | | 5/1 - Adjustable Rate | 360 | 4.29% | 4.430% | $4.94 | % | 0.000% | $0.00 | | USDA - Fixed 30 yr. | 360 | 5.25% | 5.398% | $5.52 | % | 0.000% | $0.00 | | |
| *Rates are subject to change due to market fluctuations and borrower's eligibility. |
| 2-19-2010 - Interest rates are UP about .25% FHA changes in the works. The 'upfront MIP' will be INCREASED from 1.75% of the loan to 2.25% on the loan. This fee is added to the loan amount so the borrower does NOT have to come up with cash. The "Sellers Contribution will be REDUCED from 6% to 3%. There is talk about RAISING the 'down payment' from 3.5% to 5.00%. These changes are thought to be done around April 5th, 2010. |
| |
Jim Carney-Loan Officer
American Mortgage Specialists
Phone: (623) 544-3370
JimCarney@amsaz.com
