Daily Mortgage News

There is a new Bill out there called the Frank Bill. This Bill is to limit mortgage securitization. Basically they want lenders to hold on to more of their mortgages which would cause them to pay more attention to the quality of the loan. The resaon I say this because this also added to our "Mortgage Crisis". Originators (Lenders) were able to just sell these loans off to the secondary market not really caring about what type of loan they were getting cause they knew it would securitized so they were focusing more on quantity versus quality.

Daily Mortgage Rates

Conventional 30 Yr. Fixed Rate: 5.375%

FHA 30 Yr. Fixed Rate: 5.50%

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