St. Louis Mortgage Rate Update; Survey shows 8 in 10 people still say home ownership is a good investment

In a presentation given at the International Builders Show, Jill Waage, Editorial Director for Home Content for Better Homes and Gardens revealed survey results about consumer attitudes towards home ownership, upkeep and renovations, design and personalization, and more. A primary point revealed in the presentation shows that, despite continuing economic uncertainty, consumer thoughts toward home ownership remain strong with 8 in 10 saying home ownership is still a good investment and an important part of the American Dream.

Using my client base as a un-scientific sample, I found a lot of my purchasers have a similar thought process when it comes to buying their new home.  Common comments regarding ownership include:

  • I am getting a good deal
  • It’s mine!
  • Stability
  • I can make improvements as I wish
  • I’ll save on taxes
  • It’s a sense of forced savings
  • Sooner or later the market will come back
  • I can have a dog

And the list goes on and on…

St. Louis MORTGAGE INTEREST RATES for February 15, 2012:

  • Conventional 30-Year Fixed 3.875%/ 4.070% APR
  • Conventional 15-Year Fixed 3.00%/ 3.240% APR
  • Conventional 5/1 ARM 2.375%/ 3.082% APR
  • FHA/VA 30 Year Fixed 3.750%/ 3.991% APR
  • Jumbo 5/1 ARM 2.75%/ 3.01% APR
  • Jumbo 15 yr Fixed 3.375%/ 3.630% APR
  • Jumbo 30 yr Fixed 4.750%/ 5.010% APR

*The above mortgage rates are based upon an 80% LTV, o/o single family with FICO scores of 720.

Paramount Mortgage is a locally owned Mortgage Banker celebrating our 41st year. Great rates and programs are secondary to what is most desired in a lender relationship: Integrity, Communication and Customer Satisfaction. Be to check out our website:

For more information or if you have questions on mortgage rates you may contact me by phone at my direct line, (314) 372-4319, email at or you can visit our company website at

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