Rates as of the closing Friday, Feb 2nd. 2007
February 3rd, 2007 . by Mike KellyThese are provided by show friend Alicia Hodenfield of Investor’s Trust Mortgage.
The fed kept the overnight funds rate at 5.25%, which was expected, but a collective sigh of relief was felt in the markets. Other news also has had some impact on rates including Jobs Report which came in lower than expected. Though the past few months have had revisions higher, which may happen with this months.
Long term outlook for Bond prices is good, which is good for Mortgage rates. In the immediate future, we will keep an eye on Bonds as there seems to be some volatility. I’ll keep you posted!
Conforming fully amortized interest only
30 year fixed 6.25% 6.5%
3/1 ARM 6.375% 6.625%
5/1 ARM 6.25% 6.5%
7/1 ARM 6.25% 6.5%
10/1 ARM 6.25% 6.625%
fully amortized interest only
JUMBO – up to $650,000; add .25 point for loans up to $1mil
30 year fixed 6.5% 6.625%
3/1 ARM 6.5% 6.625%
5/1 ARM 6.5% 6.625%
7/1 ARM 6.625% 6.75%
10/1 ARM 6.75% 6.875%
100% financing 1st 2nd
6.625% (30 year fixed) 10.375% (HELOC)
(Based on conforming limits for the 1st – up to 80% LTV; up to 100% CLTV for 2nd
Blend 100% 7.875% (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. Rates quoted for fully documented loans. Rates are as of 2/2/07 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
www.aliciahodenfield.com
