THIS WEEK’S RATE TREND IS DOWN
It was another good week for mortgage rates. Weaker than expected economic growth data and increased concerns about Iraq were favorable for mortgage rates. These factors outweighed the negative impact of improving data in the housing sector, and mortgage rates ended the week a little lower.
Loan Amounts under $417K, Shown as Note Rate / (APR)
Conforming 30 year fixed: 4.125% / (APR 4.210)
FHA 30 Year Fixed: 3.750% / (APR 5.265)
Conforming 5/1 ARM: 2.875% / (APR 2.944)
Conforming 7/1 ARM: 3.500%/ (APR 3.359)
Loan Amounts over $417K up to County Limits, Shown as Note Rate / (APR)
High Balance Conf. 30 Year Fixed: 4.250% / (APR 4.423%)
FHA High Balance 30 Year Fixed: 3.750% / (APR 5.392)
High Balance 5/1 ARM: 3.500% / (APR 3.189)
Loan Amounts Exceeding County Limits, Shown as Note Rate / (APR)
Jumbo 30 Year Fixed: 4.1250% / (APR 4.210%)
Jumbo 5/1 ARM: 3.000% / (APR 3.044%)
Jumbo 7/1 ARM: 3.500% / (APR 3.289)
Jumbo 10/1 ARM: 3.750% / (APR 3.559)
Loan Limit Snapshot
Conforming
All Counties: $417,000
High Balance Conforming
Santa Barbara: $625,500
Ventura: $598,000
San Diego: $546,250
LA/Orange: $625,500
High Balance FHA
Santa Barbara: $625,500
Ventura: $598,000
San Diego: $546,250
LA/Orange: $625,500
***Courtesy of Kelly Marsh at Broadview Mortgage