Here is the latest interest rate information from J.J. Ballesteros at Bankers Funding:
According to Democratic aides and transition officials, President-Elect Obama’s new stimulus package is said to include hundreds of billions of dollars worth of tax breaks and credits for individuals and businesses. This new stimulus plan is said to be worth near $775B. This is good news for the economy and should help with consumer confidence over time. One thing to consider down the road, these programs will have to be paid for at some point. This could lead to higher rates, as the Treasury may need to print money to fund these programs.
- Rates on a 30yr Fixed under $417,000 are at 5.125%
- Rates on a 30yr Fixed between $417,000 & $625,500 are at 5.375%
- Rates on a 5yr Arm under $2,500,000 are at 6%
You can call J.J. at 949.690.3240.
