For any of you looking for rate information, I have gone to a trusted source to update us weekly on rates. I thought some of you might find it worthwhile as many of us are debating what kind of impact rates will have on our purchases and re-finances over the next 6-12 months.
While rates are not at all time lows they were at 4 weeks ago they are still at very low levels. Rates are similar to slightly lower from where they were one week ago. FHA and conventional 30 year are still low when you look at rates over the last few years. If you are purchasing a home that you plan on living in for only 3-5 years a 5 and 7 year arm have very good value on today’s pricing. If you are unsure how long you plan to live in and keep the home the 30 year will be the conservative and most popular way to go. In the future there are many different factors that can impact interest rates. As the economy improves the assumption is that rates will go up from current levels. Also currently the Feds have been purchasing treasury bonds and mortgage backed securities in the amount of approximately 1 trillion dollars over the last year. The Fed has been on record that purchasing will end at the end of the first quarter of 2010 and many believe once that happens we could see a rise in interest rates. Current rates are below for a variety of products. If you have any questions at all about pricing or different loan products do not hesitate to call me on my cell at 720-252-5552 or e-mail me at casey.reynolds@bankofamerica.com.
FHA: 30 Year: 5.0% -0- points 4.875% w/ 1 point
Conforming Conventional: 30 Year: 5.125% – -0- points 4.875% - w/ 1 point
15 Year: 4.5% – 0- points 4.375% – w/ 1 point
5/1 ARM: 3.875% – -0- points 3.5% – w/ 1 point
7/1 ARM: 4.5% – -0- points 4.125% – w/ 1 point
Jumbo: (Loan Amounts above $417,000)
30 Year: 5.75% -0- points 5.5% w/ 1 point
5/1 ARM: 5.5% -0- points 5.125% w/ 1 point
***Rates are base rates and are subject to change with the market and borrowers personal criteria: FICO score, LTV Occupancy, etc…*** Rates above are for purchase transactions – rates may differ on refinance transactions***
Related posts:
About jeff
Recent UCS Comments