Interest Rates have Dropped!

Great news! Conforming loan interest rates are now 6.5% and jumbo loan interest rates are 7%.  These are for fixed rate 30 year financing.  (Conforming loans are under 417K and  Jumbo loans are over 417K).  Additionally if you buy a Long listing and utilize a Long Mortgage lender, the first year will be brought down 1%; so for loans under 417K, it would be 5.5% the first year and for higher loans would be 6% the first year! I am so happy I work for Long since it offers such innovative programs that serve its clients so well.  Keep in mind this mortgage buydown is only offered through September 15th.   What  a great time to buy a  Long listed house!  These low interest rates are pretty much the same rates we saw a year ago.  What a difference a week makes!

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