| Mortgage Term | Points* | Current Rate | Prior Rate |
| 30-Year Fixed 15-Year Fixed 5-Year ARM 1-Year ARM |
.7 .7 .6 .6 |
4.91 4.53 4.82 4.69 |
4.82 4.50 4.79 4.82 |
* Loan fees are referred to as points. This chart represents the average national points charged according to Freddie Mac. For example, if you are paying .7 points on a $100,000 loan your fees will be $700.
When is the market going to correct itself? Will we see a reduction in the amount of foreclosures soon?
Some more tips would be great as foreclosure laws do change. Any more information and experiences are appreciated.
I am glad I had a chance to read your post, if you have more information on loan modification elsewhere let me know or post it here.