RollerCoaster Ride for Interest Rates! Rates as of Friday, January 25–but keep an eye on them!!
January 25th, 2008 . by Mike KellyRates as of 1/25/08
What a rollercoaster week! On Wednesday morning, I found a rate of 5.125% for a 30 year fixed loan! By lunch time it was in the mid 5’s and by then end of the day it was 6%. The markets are having quite a ride with all the uncertainty with the economy. And this rollercoaster ride with rates is a direct reflection of that. And now we have a stimulus package announced – one really great part of that is the increase for the conforming limits. It isn’t clear as to what they will be increased to, but it is quite possible that a $600,000 home, and maybe more, will meet the conforming limit, at least for a year. And with a 1% or more difference between Jumbo and conforming rates, we could sure use all the help we can get! The increase probably won’t be in effect until February/March.
Today’s rates quoted are a small sample of current rates – all quoted without points- call me about rates with point(s), different loan products and requirements! (707) 284-2718
Conforming fully amortized interest only
3/1 ARM 5.00% 5.125%
5/1 ARM 5.00% 5.125%
7/1 ARM 5.50% 5.625%
Jumbo fully amortized interest only
30 year fixed 6.625% 6.625%
3/1 ARM 6.25% 6.375%
5/1 ARM 6.25% 6.375 %
7/1 ARM 6.25% 6.375%
10/1 ARM 6.50% 6.625%
Give me a call for details and other loan options!
Here’s the fine print:
Conforming limit is $417,000.00. Rates assume credit score is 680 or higher, impound account set up and assumes loan to value (LTV) no more than 80%. Funds to be used for purchase. Cash out refinances may incur higher rates. Rates quoted with a 30 day lock. Subject to qualifying borrowers and properties. Rates quoted for fully documented loans. Rates are subject to change. Rates are quoted WITHOUT points. Borrowers (and/or sellers) 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
Licensed by California DRE #01104067/Salesperson License #01501465
“I advise you to say your dream is possible and then overcome all inconveniences, ignore all the hassles and take a running leap through the hoop even if it is in flames.” — Les Brown
Oh by the way, if you know of someone thinking of purchasing or refinancing a home, who would appreciate the kind of service I offer, I’d love to help them. As these people come to mind, just give me a call with their name and number. I will be happy to follow up and tend to their real estate financing needs.
