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Mortgage Rate Ranges for October 5, 2009

Main Boise Home Loans

Mortgage Rate Ranges for Conforming, FHA, and Idaho Housing mortgage products.

Rates VERY Low -- Slower Week For Economic News

This week is fairly slow with regard to economic information being released...there is only one monthly report for the markets to digest, and it is not of high importance. There is also an important Treasury Note auction this week to take note of.


10-year Treasury Note auction -- demand, or lack of, in this auction can drive our mortgage rates up or down. Stronger demand could lead to a bond market rally that should move rates lower.


August's Goods and Services Trade Balance -- gives the size of the U.S. trade deficit

We should have a relatively quiet week for the bond market and mortgage rates. The Fed auction and movement in the stock markets this week should be the biggest drivers of our mortgage rates.

Looking ahead, the bond market and most banks will be closed on Monday the 12th in observance of Columbus Day.

Mortgage Interest Rate Ranges* Rate ranges as of Monday, 5th October, 2009:

  Term Conforming     Jumbo    
30 Year Fixed 360 Mid 4's     Low 6's    
15 Year Fixed 180 Low 4's     Low 5's    
5/1 ARM (fixed 5 years) 360       Mid 4's    
30 Year Fixed IHFA (BPMI) 360 High 4's          
30 Year Fixed FHA 360 High 4's          
30 Year Fixed (non-owner) 360 Low 5's          

*Rate ranges are subject to change due to market fluctuations and borrower's eligibility.

The material contained in this email is for informational purposes only and is not intended as professional advice. Idaho Banking Company assumes no legal liability or responsibility for the accuracy, completeness or usefulness of the material. The information contained herein does not necessarily state or reflect the opinions of Idaho Banking Company.

Posted by Eric Leigh at 10/5/2009 5:31:00 PM

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