Peter Phillippe’s Interest Rate Update as of July 24th. Sonoma County’s voice for Interest Rates!
July 24th, 2008 . by Mike KellyProspect Mortgage , a “Direct Lender”
Loans to 412,000, now 6.375% , 1 pt.
Rates went down a little with decrease ( a little) in oil prices . . still overall inflation concerns with higher food prices however. A lot of uncertainty
Email Peter.Phillippe@imb.com
Pete Phillippe : Cell 707-481-2737
On the Web: www.pphillippe@imbhomelending.com
Fax #: 866-610-5264 707-535-1263 direct
Subject: 30 day locks on rates shown for clients as of date shown above
Up to $662,250 30 yr fixed is 6.375 at 1 pt , 5/1 program is 6.0 to $417,000% at 1 pt.
FHA 30yr fixed 6.5 1 pt to $362,790 up to 97% LTV’s . FHA to $662,500 now 6.75 1pt
Fixed rates are where “it’s at” right now . . . . How about a “buydown “ of the rate for a buyer? Call me to see how it works for potential purchasers. A different way to apply a closing cost credit from the seller and get more people qualified to “buy”.
Remember, I reimburse appraisal fees at closing for you and your radio show listeners!!
July indexes, 1 yr. Libor is 3.34, prime is 5.0 , 1 yr constant maturity treasury 2.38
Indexes have moved up slightly each of the last three months , except the prime rate
APRs not calculated, full doc examples with 680 fico scores . . .30 day locks shown on rates. Stated income, 40 yr terms, interest only loans, available . . . Rates and points can change depending upon loan to value, credit scores and purpose of loan. Information intended for the Real Estate community only, Equal Opportunity Lender, rates and programs subject to change
