Mortgage Rates Continue to Fall in Northern Virginia As Well As Across the Country

Just like gasoline prices, mortgage rates have continued to slide downward. A few things to note:

  • Rates closed on Friday afternoon at 5.75% with 0 points for a 30yr. fixed conforming loan.
  • Lenders are accepting loans at up to the 2009 mortgage limit of $625,500 for FHA and Jumbo Conforming loans.
  • The 4.5% loan you may have heard or read about is NOT available.  It is just an idea being floated as part of an economic stimulus plan.
  • Mortgage money is still available.

For more on the mortgage market, click here.   For more on buying or selling real estate in Northern Virginia, call 703.927.4554.

Thanks for stopping by,

Michael