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

 

About mmegowan

I am a realtor with Remax Estate Properties in Palos Verdes Estates. Visit my website at http://www.maureenmegowan.com
This entry was posted in Uncategorized. Bookmark the permalink.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s