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Ryan’s Mortgage Blog:
I know it has been a while since I’ve given you guys an estimate of where rates are at. I am always hesitant to do so because there are so many variables, now more than ever. Below is a rough estimate of where rates are at based on good credit.

30 Year 6.125
5 Year I/O ARM 6.00

30 Year 6.625
5 Year I/O ARM 6.5

The difference between now and a couple of months ago is that the 30 year rates and the 5 year ARM rates are very similar, whereas before the ARMs were much better. A common theme right now for borrowers is to “buy down” the 30 year rates even lower than the above estimates. This has always been an option, but before some people would opt for a 5 year ARM at a lower rate than the 30 year buy down rate, and just pay to refinance it at a lower rate down the road. The cost to refinance can be cheaper than buying down depending on the circumstances, but it is a risk.

Off topic…we all know I am a HUGE football fan. I came across an article I thought you homeowners may enjoy even if you aren’t a football fan because it has some good decorating ideas for the house. Check it out at,,20054026,00.html?xid=cnnmoney-0907-nfl

For any Mortgage related questions feel free to contact me anytime with no obligations. or 805-540-0866.

Written by Keith Byrd - Go to Keith's Website/Profile