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Both stock & bond markets rallied on November 4th, perhaps as a sign of confidence that the national election is finally upon us.   Another explanation is the significant drop in LIBOR rates that we've seen over the past week.   The LIBOR is the interbank offering rate (rate in which banks are willing to lend money to each other).   The 1 month LIBOR shot up as high as 4.9% after the Lehman Brothers bankruptcy, and has slowly crept back to to it's current level just over 2%.  The lower that the LIBOR rate falls, the more confidence banks have to lend to each other, and the credit markets will improve.

30 year fixed rates still offer some of the best financing terms available for all borrowers.   We do have access to a couple of portfolio ARM lenders that are offering 5 year interest only loans to qualified borrowers at less than 6%.   Check out our daily rate sheets updated on this site, or call us today for a current rate quote.