Long Beach Mortgage Rates Report: March 5, 2009Long Beach Mortgage Rates Report: March 5, 2009-Long Beach Real EstateMortgage rates in Long Beach dropped from 5.25% to 4.875%, from conventional loan programs, with 1 point today. Oh, how I love it when the government is actually working for home buyers rather than trying to raise the dead. Long Beach Mortgage Rates as of March 5, 2009: All eyes are on the unemployment figures tomorrow but here's where mortgage rates were today: 20% down, conventional loan up to $417,000 with 1 point 4.875% Mortgage Help From The Government Stimulus? if you're underwater on your mortgage, the Obama plan ain't gonna help you. This plan was designed for every state but CA, FL, NV, AZ, MI, and NV. You know, the places that are hurting the most.... ...like Long Beach. Big Bank Bailout News Hooray for Northern Trust and US Bank ! They gave back the bailout money they never wanted in the first place. Meanwhile, if your bank gave the politicians money, it got multiples of it back in bailout money. Citigroup and Bank of America gave politicians an astounding $5 million and $6 million (respectively) last year and received $50 billion and $45 billion (with a B) from their "investment". So, there you have it. If you're a distressed homeowner in Long Beach, you lose. If you're a bank who donated money to the politicians, you got BIG bonuses at the end of last year.
Brian Brady is Managing Director of World Wide Credit Corporation, a San Diego-based mortgage banking and brokerage firm. Google calls him America's #1 Mortgage Broker; you can call him at (858)-777-9751
http://www.longbeachrealestatehome.com/00954A Posted on March 05, 2009 17:00:00 by Laurie Manny
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