Fannie Mae and Freddie Mac to Delist Shares on NYSE; St. Louis Interest Rates Remain Low

Paramount Mortgage Company - St LouisFannie Mae and Freddie Mac  notified the New York Stock Exchange (NYSE)  of its intent to delist its common and preferred stock.  The Federal Housing Finance Agency (FHFA), the conservator for Fannie and Freddie, has directed the companies to delist their common stock and their preferred stock from the NYSE.  “FHFA’s determination to direct each company to delist does not constitute any reflection on either Enterprise’s current performance or future direction, nor does delisting imply any other findings or determination on the part of FHFA as regulator or conservator,” FHFA Acting Director Edward J. DeMarco said in a press release.

The mortgage market has benefited from the “flight to quality” mentality since the news of the uncertainty of debt defaults in Europe over the last few weeks.   As the perception of these uncertainties diminish,  mortgage rates should hold steady if not rise.

St. Louis Mortgage Interest Rates – June 16, 2010 *

  • 30-year fixed-rate mortgage 4.75% no points
  • 15-year fixed-rate mortgage 4.25% no points
  • 5/1 adjustable rate mortgage 3.85% no points
  • FHA/VA 30-year fixed rate mortgage 4.75%
  • Jumbo 5/1 ARM 4.125% no points
  • Jumbo 15 year fixed rate mortgage 4.625%

For more information or if you have questions on mortgage rates in St. Louis you may contact me by phone at my direct line, (314) 372-4319, email at rfishel@paramountmortgage.com or you can visit our company website at http://www.paramountmortgage.com.

 

 


*Note- The above rates are based upon a typical sale price of $187,500 with a 20% percent down payment leaving a loan amount of $150,000 to a borrower with a 720 credit score for a loan with no discount points charged. Rates and terms will vary depending upon loan amount, home value, credit and income of borrower.

This information is provided by this author and this site for informative purposes only and is not warranted or guarteed in any way.

 

 

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