And now a word from Jim Brown Of First Investors (Belmont)

Mortgage rates continue to stay in the 6.50% range. The 10 year bond has dropped
but the rates do not appear to be following. The good news is that many lenders no longer have declining markets in Massachusetts. The 97% single family program is now a program we can use. The banks continue to tighten credit but the activity in the market has increased. I don't think the increase in rates has hurt the market. There is some MHFA funding available for first time and low income borrowers with the rate being about 6.00%.

Just wanted to tell everyone to keep the community homebuyer program in minds which provides a lower downpayment and easier loan qualifications. We have a program

For:
1 Unit 97% LTV
2 Unit 95% LTV
3 Unit 90% LTV
4 Unit 90% LTV

The max combined income is $108,000.00. This is a great program for first time homebuyers.
CONFORMING
30 YEAR FIXED
6.500% 0 Point
6.000 % 2 Points
15 YEAR FIXED
6.125% 0 Point
5.625% 2 Points
Conventional 5/1 ARM
6.375% 0 Points
5.500% 2 Points
JUMBO
30 YEAR FIXED
6.750% 0 Points
7/1 YEAR ARM
6.375% 0 Points
5.875% 1 Point
5/1 YEAR ARM

6.250% 0 Points
5.750% 2 Points

Jim Brown
President
First Investors Mortgage Inc.
MB0063
24 Trapelo Road
617.484.8383