And Now a Word from JIM BROWN of First Investors (Belmont, MA)

The 10 year bond has dropped down to 3.70 from over 4.00 a month ago. Oil
has dropped in price as well as gold. This points to lower rates and the risk
of inflation seem to be disappearing. Rates have dropped down to %6.125 with 0 points on cnventional loans. The Economic numbers for the month of August should be
coming out this week and next week, this should put downward pressure on mortgage rates. We also have some larger banks offering very aggressive Jumbo Adjustable Rate mortgages. Some of the hi-lites are you can go up to 90% with no private mortgage insurance. There is no price hit for interest only or escrow waivers. There seems to be more activity in the market this month.

Just wanted to tell everyone to keep the community homebuyer program in minds that 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

6.125 0 Point
5.625 2 Points
15 YEAR FIXED
5.750 0 Point
5.250 2 Points
Conventional 5/1 ARM
6.125
0 Points
5.375
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

6.500 0 Points
5.750% 2 Points
Call if you have questions 617 484 8383