4% Home Mortgages Are Here Today

  With Obama set to take office on January 20th there will not dough be an impact on both the stock market and the bond market.  Currently Obama wants to use the remaining 350 Billion of the Wall Street Bailout money in a different fashion.  This has already caused mortgage rates to move up.  Currently mortgage rates are 4.75% to 5.0% for the average borrower with a conforming rate and term refinance, says Mike Mortrud of Emerald Pacific Mortgage of Huntington Beach.


  With real estate values and mortgage rates currently as low as they are has improved the real estate industry.  Loan submissions are currently up 500% for this time a year ago, says Mortrud.  The 2009 real estate industry in Orange County CA has started off nicely.  The real question is will it continue.  If the current trend continues then we should see values begin to rise at a minimal rate, says Mortrud.


  Emerald Pacific is currently structuring 30 year fixed home mortgages with 4% rates.  If you should seen a run up in the stock market or hear that the Wall Street bailout fund will not be going to Wall Street.  This will be your cue that rates are going to be moving up.   


  It is just my opinion that we will not see real estate values run up anything like it did in 2003 – 2007.  Modest rises in value are more likely with remote areas just holding their value for the next 12 to 24 months.  


Emerald Pacific can be viewed on line at www.emeraldpac.com.      









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