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MORTGAGE RATES – The Trend is DOWN this Week

mortgage rates down graphic

THIS WEEK’S RATE TREND ISDOWN

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

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