Interest Rates Decrease

We saw a little bit of improvement this week in the Mortgage Backed Securities or bond market which is trending interest rates lower.  Hopefully this will continue.  Interest Rates have generally moved down about one-quarter of a percentage point in the last week. Great news for buyers!!!!! The following are interest rate quotes from Al Hermann of American/California Financial Services :

Conforming 30 Yr Fixed up to $417,000 5.000% Rate 5.141% APR Pricing based on 740 credit score, 65% Debt to Income Ratio, 80% Loan to Value Ratio, $417000 Loan Amount, 30 Lock Days, Qualified Borrowers Only. When Mortgage Insurance is applicable, it is not calculated in the APR   Conforming 30 Yr Fixed $417,001 – $625,500 5.375% Rate 5.511% APR $729,750 limit available Pricing based on 740 credit score, 55% Debt to Income Ratio, 80% Loan to Value Ratio, $625500 Loan Amount, 30 Lock Days, Qualified Borrowers Only. When Mortgage Insurance is applicable, it is not calculated in the APR   FHA 30 Year Fixed 5.125% Rate 5.277% APR Pricing based on 680 credit score, 55% Debt to Income Ratio, 96% Loan to Value Ratio, $417000 Loan Amount, 30 Lock Days, Qualified Borrowers Only.   Jumbo 7 Year ARM 5.750% Rate 5.845% APR Pricing based on 740 credit score, 39% Debt to Income Ratio, 70% Loan to Value Ratio, $950000 Loan Amount, 30 Lock Days, Qualified Borrowers Only.

 

For more information about Financing your purchase of a home on the Palos Verdes Peninsula, visit my website at http://www.maureenmegowan.com

 

Interest Rate Update

The following are interest rate quotes from Al Hermann of American/California Financial Services :

Conforming 30 Yr Fixed up to $417,000

5.250% Rate

5.393% APR

Pricing based on 740 credit score, 65% Debt to Income Ratio, 80% Loan to Value Ratio, $417000 Loan Amount, 30 Lock Days, Qualified Borrowers Only. When Mortgage Insurance is applicable, it is not calculated in the APR

Conforming 30 Yr Fixed $417,001 – $625,500

5.750% Rate

5.889% APR

$729,750 limit available

Pricing based on 740 credit score, 55% Debt to Income Ratio, 80% Loan to Value Ratio, $625500 Loan Amount, 30 Lock Days, Qualified Borrowers Only. When Mortgage Insurance is applicable, it is not calculated in the APR

FHA 30 Year Fixed

5.500% Rate

5.655% APR

Pricing based on 680 credit score, 55% Debt to Income Ratio, 96% Loan to Value Ratio, $417000 Loan Amount, 30 Lock Days, Qualified Borrowers Only.

Jumbo 7 Year ARM

6.000% Rate

6.096% APR

Pricing based on 740 credit score, 39% Debt to Income Ratio, 70% Loan to Value Ratio, $950000 Loan Amount, 30 Lock Days, Qualified Borrowers Only.

The following quotes are from Michael Cordova: michaelc@milestonemtg.com  from Milestone Mortgage:

 

June 22, 2009

FIXED RATES CONFORMING JUMBO

Rates Points Rates Points   30-Year Fixed Rate 5.250% 1.000 6.375% 1.000                   30-Year Fixed Rate FHA 5.500%   5.750%                     HYBRID ARMS                           5/1 ARM 4.250% 1.000 5.050% 1.000                   7/1 ARM 4.750% 1.000 5.650% 1.000                   10/1 ARM 5.000% 1.000 5.900% 1.000

INTEREST ONLY Rates Points Rates Points

HYBRID ARMS                         5/1 ARM 4.375% 1.000 5.150% 1.000                   7/1 ARM 5.000% 1.000   1.000                   10/1 ARM 5.375% 1.000   1.000

For more information about Financing your purchase of a home on the Palos Verdes Peninsula, visit my website at http://www.maureenmegowan.com

Interest Rate Update

The following are interest rate quotes from Michael Cordova  of Milestone Mortgage at michaelc@milestonemtg.com :

June 8, 2009

FIXED RATES CONFORMING JUMBO

Rates Points Rates Points   30-Year Fixed Rate 5.375% 1.000 6.625% 1.000                   30-Year Fixed Rate FHA 5.500%   5.750%                     HYBRID ARMS                           5/1 ARM 4.500% 1.000 4.850% 1.000                   7/1 ARM 4.875% 1.000 5.350% 1.000                   10/1 ARM 5.000% 1.000 5.700% 1.000

INTEREST ONLY Rates Points Rates Points

HYBRID ARMS                         5/1 ARM 4.625% 1.000 4.900% 1.000                   7/1 ARM 5.125% 1.000   1.000                   10/1 ARM 5.375% 1.000   1.000

For more information about Financing your purchase of a home on the Palos Verdes Peninsula, visit my website at http://www.maureenmegowan.com