Daily Mortgage News

JP Morgan Chase has cut their stock dividend from .38 cents to .05 cents per share which is 87%! Chase actually did this hoping that it would allow them to pay back the the$25 Billion from TARP. JP Morgan Chase is not the only bank trying this though, Bank of America has cut there dividends to a penny. This is hopefully going to help them get better, sooner.

Daily Mortgage Rates

Conventional 30 Yr. Fixed Rate: 5.50%

FHA 30 Yr. Fixed Rate: 5.750%

100% (USDA) 30 Yr. Fixed Rate: 5.50%