Current Mortgage Rates
09/20/2009

30 Year Fixed 5.250%
15 Year Fixed 4.750%
1 Year Adjustable 4.750%
FHA 30 year Loan 5.375%
Rates are based on current market rates from competitive companies. This would assume normal closing costs and normal fees

Mortgage rate advisory
Rates appear to be trending in a range between 4.875 and 5.25 for the thirty year fixed. In our view rates will continue to stay in this range for sometime. We believe that the economy is going to continue under stress for sometime to come and that mortgage rates will stay low because of this.
The stock market in our view seems to be way ahead of itself and is expecting a recovery in the economy in the not to distant future. With the unemployment rate at record high levels and little hope for new job growth in the near term i don't see how the economy can rebound.