Interest Rate Update

The following are general levels of interest rates for various loan terms for both conforming and Jumbo loans as provided by Al Hermann at al@american-california.com . Interest rates for conforming loans are down about a 1/4 point from 2 weeks ago due to the Federal Reserve program to purchase mortgage backed securities. Loan rates for Jumbo mortgages are also becoming more attractive as lenders re-enter the market.

Stats

Conforming 30 Yr Fixed up to $417,000
4.625% Rate
4.763% 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
5.125% Rate
5.259% APR
Pricing based on 740 credit score, 45% 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
 
Jumbo 5 Year ARM
5.25% Rate
5.5% APR
Pricing based on 740 credit score, 39% Debt to Income Ratio, 80% Loan to Value Ratio, $1000000 Loan Amount, 30 Lock Days, Qualified Borrowers Only.
Jumbo 30 year fixed
6.25% Rate
6.5% APR
Pricing based on 740 credit score, 39% Debt to Income Ratio, 80% Loan to Value Ratio, Up to $1500000 Loan Amount, 30 Lock Days, Qualified Borrowers Only.

For additional information about Financing , buying or selling a home, visit my website at http://www.maureenmegowan.com

About mmegowan

I am a realtor with Remax Estate Properties in Palos Verdes Estates. Visit my website at http://www.maureenmegowan.com
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