Wells Fargo Economist Summary:
From recently published news regarding the housing markets in California and Florida, it is clear that something is going on in the U.S. housing market.  While I don't see a strong rebound in economic activity any time soon, markets should start to prepare for that coming attraction, and one of my big concerns has to do with the price of petroleum.  Take a look at this week's FMS to read more about these issues. 

<<Apr 10 FMS.pdf>>
Wells Fargo Mortgage Rate Update:
as of 04/10/2009 08:38

Product Interest Rate   APR    
Conforming1 Loans                      
40-Year Fixed   6.500%  6.700% 
30-Year Fixed   4.875%  5.086% 
20-Year Fixed   5.125%  5.416% 
15-Year Fixed   4.625%  4.989% 
5-Year ARM      4.375%  4.500% 
Jumbo2 Loans – Amounts that exceed conforming loan limits1                     
30-Year Fixed   6.500%  6.651% 
5-Year ARM      5.375%  4.805% 
FHA – loan limits vary by county.                      
30-Year Fixed   5.000%  5.645% 

All rate quotes shown come with one point as an discount fee.

Assumptions and APR Information

FINANCIAL MARKET STRATEGIES

www.wellsfargo.com/com/research/economics/index