Yes, the mortgage Rate is Down a little bit.
We expect the Fed will lower the fund rate of 0.25% at the Sep FOMC Meeting and the mortgage rate will go down till the beginning of the next year.
Here is the rate as of 08/27/2007( all no points no fees):
Conforming(<=417k) 30 yr fixed 6% or 6.25% 15 yr fixed 6% 5/1 ARM 6% or 6.25% 3/1 ARM 6%
Jumbo(>417k) 15 yr fixed 6.625% 7/1 ARM 6.625% 5/1 ARM 6.375% 3/1 ARM 6.25%
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