Mike’s Real Estate Show

The following is our Interest Rate update for this weekend’s real estate shopping!! Rates are at the closing of business today. Happy House Hunting!

The bonds followed the path of least resistance this week, and continued their downward trend, which in turn caused mortgage rates to climb.  There is lots of economic activity promised for this next week that could have an impact on the bond market, and mortgage interest rates.

   fully amortized  interest only
Conforming
30 year fixed  6.25%    6.5%
3/1 ARM  6.5%    6.625%
5/1 ARM  6.25%    6.5%
7/1 ARM  6.25%    6.5%
10/1 ARM  6.375%   6.625%

   fully amortized  interest only
JUMBO – up to $650,000; add .25 point for loans up to $1mil
30 year fixed  6.625%   6.75%
3/1 ARM  6.5%    6.625%
5/1 ARM  6.625%   6.75%
7/1 ARM  6.625%   6.75%
10/1 ARM  6.875%   7.0%

100% financing 1st    2nd
   6.625% (30 year fixed) 10.25% (HELOC)
(Based on conforming limits for the 1st – up to 80% LTV; up to 100% CLTV for 2nd

Blend 100%  7.625% (NO Mortgage Insurance)

Here’s the fine print:
Conforming limit is $417,000.00.  Rates assume impound account set up and except for 100% financing, assumes loan to value (LTV) no more than 80%.  Funds to be used for purchase.  Cash out refinances may incur higher rates.  Rats quoted with a 30 day lock.  Subject to qualifying borrowers and properties.  Assumes full doc loans.  Rates are as of 1/26/07 and are subject to change.

Rates are quoted WITHOUT points.  Borrowers may buy down the rate.  Each application is evaluated on an individual basis.  There may be better suited programs for borrowers the may offer better rates/terms as well as options for non-qualifying borrowers. 

Alicia Hodenfield
Investors Trust Mortgage
(707) 284-2718 direct line
alicia@investorstrust.com
www.aliciahodenfield.com