Blog

October 2016

Mortgage rates have remained low to start this month.  I am unsure if they stay like this for 1 month or 1 year, but we are probably safe at least until after the election of rates increasing drastically.  Current interest rates:

30 year and 25 year fixed: 3.50%  (Apr 3.59)

20 year fixed:  3.25% (Apr 3.32)

15 year fixed: 2.875% (Apr 2.94)

10 year fixed: 2.75% (Apr 2.82)

FHA 30 year fixed: 3.25% (Apr 3.92)

VA 30 year fixed: 3.25% (Apr 3.47)

Jumbo: Please Call

**Rates subject to change.  Above rates based on credit score greater than 740 and mortgage loan being a purchase.  Please Call or email for an exact quote for your situation.

Craig Meyer
President
Archer Mortgage Lending Corp
8050 Watson Rd Ste 245
St. Louis, MO 63119
314-968-1500, Fax: 314-968-7998
Cell: 314-323-3092
craig@archermortgage.com

Next up, election

I am sure most of you agree that we can't wait to see normal commercials again.  Wow!  Can't take much more.  In regards to the mortgage industry, the election may play a big part in interest rates.  It is safe to say that rates have been held down for a long time and many would say too long.  Rates will go up, but the question is when.  I gave up predicting, and good thing because I would have bet they were going up 3 years ago.  Always make your decisions based on the belief they are going up next month.  If it makes sense to do a loan, do it. ...

November 3rd, 2016 Next up, election