Interest Rate Update: 3/23/07 Investor’s Trust.
March 25th, 2007 . by Mike KellyRates as of 3/23/07
Don’t forget the Buyers Advantage Program! Buyers can have up to 6 months of their principal and interest payments made – Please call me for details!
The Prime Rate is staying at 8.25% for now. The Federal Open Market Committee met this week and announced their position. They are still concerned about inflation, so I’ll be watching for reports that will give us a glimpse of the economy and how it relates to inflationary pressures.
The impact of the secondary financing tightening continues to make impacts on the market. Loan City has closed their doors to business.
Conforming fully amortized interest only
30 year fixed 6.125 % 6.25%
3/1 ARM 6.0% 6.25%
5/1 ARM 6.0% 6.25%
7/1 ARM 6.0% 6.25%
10/1 ARM 6.125% 6.375%
fully amortized interest only
JUMBO – up to $650,000; add .25 point for loans up to $1mil
30 year fixed 6.375% 6.5%
3/1 ARM 6.125% 6.25%
5/1 ARM 6.25% 6.375%
7/1 ARM 6.375% 6.50%
10/1 ARM 6.50% 6.625%
100% financing: Due to the many changes in the 100% and 100% blended options, I recommend you contact me directly to inquire about rates and options. For fully documented borrowers there are still options, as well as stated borrowers with credit scores greater than 700.
Be sure to ask me about the Community Commitment Lending Program I have. No minimum credit scores, and great rates on 100% financing. Some restrictions apply.
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 3/23/07 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
