November 28th, 2006 . by Mike Kelly
| Mortgage Interest Rates* |
| Rates as of 11/28/2006: |
|
Conforming |
APR |
Payment per
$1,000 |
Jumbo |
APR |
Payment per
$1,000 |
| 30-Yr. fixed |
5.625% |
5.777% |
$5.76 |
6.00% |
6.167% |
$6.00 |
| 15-Yr. fixed |
5.375% |
5.631% |
$8.10 |
5.625% |
5.902% |
$8.24 |
| 7-Yr. fixed ARM |
5.375% |
5.525% |
$5.60 |
5.75% |
5.915% |
$5.84 |
| 5-Yr. fixed ARM |
5.25% |
5.399% |
$5.52 |
5.5% |
5.662% |
$5.68 |
| 3-Yr. fixed ARM |
5.0% |
5.147% |
$5.37 |
5.375% |
5.536% |
$5.60 |
| 5-Yr. Interest Only |
5.25% |
5.399% |
$4.38 |
5.625% |
5.788% |
$4.69 |
| 40 year Amortized |
6.0% |
6.132% |
$5.50 |
0% |
0.000% |
$0.00 |
|
|
| *Rates are subject to change due to market fluctuations and borrower’s eligibility. |
| Get more people into home with Progressive Savings, 40 year amortization, 50 year amortization, and 100% products. Use seller credits to help with costs… |
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The rates above courtesy of:
Posted in Interest Rate Update |
Mike, to add a tid bit to the Mortgage Rate Update, there is currently a very attractive program available which your listeners probably haven’t heard of. In fact, even many loan officers don’t know this program exists. The loan is a Progressive Savings loan. In certain ways, like an Adjustable Rate Mortgage. Its a tiered, fixed rate program, starting out with rates as low as mid 4% range the first year before fixing it self for years 3 through 30. This loan is fixed, has no margin, no Index and there is most certainly a protective cap that minimizes the substanials risk assicated with loans that are Adjustable Rate Mortgages. There are also no prepayment penalties associated with these loans. We do have access to 100% financing and the seller or lender can contribute or pay for the cost of this loan. I encourage your listeners to give me a call for more information on this or any questions they may have regarding home loans.
Mike, Here is some more Great News for folks with higher loan to value loans.. that just don’t like having a 2nd mortage…..MORTGAGE INSURANCE — now tax deductible!
Congress approved a bill Saturday, Dec. 9, to make mortgage insurance premiums tax deductible.
Mortgage insurance premiums will be 100% deductible for households whose adjusted gross income is $100,000 or less.
The bill, awaiting a final signature, is effective for the 2007 tax year on loans closed on or after January 1, 2007.
Not bad, it really can occur