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Manu's Blog

By Manu Kapoor | Broker in Queens, NY
  • Mortgage Update

    Posted Under: Financing in Buffalo  |  December 8, 2008 9:55 AM  |  871 views  |  No comments

    A surge in refinance applications is due to lower last week's mortgage rate. The rates are even lower this week. 30 year fixed benchmark rate is 5.92% according to bankrate.com

    One year ago it was 6%, four weeks ago, it was 6.44%. 15 year fixed rate was 5.67&5/1 arm fell to 6.14% About 7 out of 10 applications were refinance & rest were home buyers.  

  • Mortgage Rates As Low As 4.5%

    Posted Under: Financing in Buffalo  |  December 4, 2008 4:35 PM  |  831 views  |  No comments
    Treasury considers encouraging banks to offer Mortgages as low as 4.5%. This is a step to push new home sales&re-finance activity. Government officials are under preasure too address falling prices&mounting forclousers, which under pin financial crisis. To aply for loans borrowers would have to document their income & afford their monthly payments.
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