I received an email this morning from one of the lenders that I would recommend, and he said FHA and VA loans started the day at 3.875%!

He said:

So far this week, mortgage rates have improved as investors continue to worry about the health of the economy and anticipate a moderate recovery. Treasury prices have advanced as weak economic data, continued concerns in Europe, and a gloomy outlook from Morgan Stanley have diminished investors’ appetite for risk and spurred demand for the safety of U.S. government debt. Bad news in the economy is good news in the bond market, meaning lower interest rates for your clients. Currently, {this company’s} FHA and VA 30 year fixed interest rate is 3.875% with no points and minimal closing costs (feels weird even writing it)! I am optimistic that the recent rally may provide a second chance to beat previous all-time lows in mortgage rates and a second chance for your buyers who feel like they missed their window of opportunity.

I am amazed at how low the rates can be! I thank my loan officers for sharing this great news!

The biggest thing to note, is that not everyone will qualify for that rate, and there are many variables that effect whether you could get the starting low rate.

If you want to buy a house in Towson, please contact me. These low rates may help you qualify for the home you may want. My team, including mortgage and title professionals, would love to help!

*Please note, interest rates change daily. This post was from August 19, 2011! Rates are not guaranteed nor are all borrowers eligible for all loan programs or interest rates.*