The White House wants less government in housing, and has delivered a report (today) to Congress to propose elimination of Fannie Mae and Freddie Mac, as well as to re-structure FHA. Fannie and Freddie own or guarantee about half of the all mortgages in the US. Because private lenders have remained on the sidelines and/or limited their participation in the mortgage markets, Fannie, Freddie, FHA and other federal agencies participated last year in almost 90% of all new mortgages. The report says that Fannie & Freddie has unfair pricing advantages, and the report supports higher fees and costs (for Fannie & Freddie loans) to create a more competitive pricing advantage for non-government-sponsored entities to re-enter the mortgage arena.
QUESTIONS?? Feel free to call us for more clarification – or to take advantage of the current low rates.
ANASAZI MORTGAGE RATES
FOR Primary Residence (purchase only)
As of 02/14/2011
Mortgages to $417,000
w/ 1 PointAPRw/ no PointAPR
30-YR4.875%5.025%5.125%5.187%
15-YR4.25%4.506%4.50%4.606%
Mortgages $417,001 – $500,000
w/ 1 PointAPRw/ no PointAPR
30-YR5.00%5.125% 6.00%6.038%
15-YR4.875%5.089% 5.25%5.312%
Mortgages $500,001 – $600,000
w/ 1 PointAPRw/ no PointAPR
30-YR5.00%5.125% 6.00%6.038%
15-YR4.875%5.089% 5.25%5.312%
Mortgages $600,001 – $1,500,000
w/ 1 PointAPRw/ no PointAPR
30-YR5.625%5.754%6.00%6.038%
15-YR4.875%5.089%5.25%5.312%
Mortgages in excess of $1,500,000, ARM (Adjustable Rates Mortgage) & Interest Only programs are also available – Please call for Quotes.
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Ginger Bowe Sullivan
ANASAZI MORTGAGE
P. O. Box 5724
Santa Fe, NM 87502-5724
Phone: 505-995-8888
Toll-Free: 800-995-8888 (if calling outside Santa Fe)
Fax: 505-995-8885
ginger@anasazimortgage.com
www.anasazimortgage.com
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