Rates At 2 Month Lows.
Approximate rates for week ending 5/7/21

More slight improvements to rates this week and they are now at their lowest for 2 months and only about .125% higher than all-time lows. The addition of low ARM rates give borrowers a chance to get close to 2% without having a shorter term.

67% of experts think that rates will stay steady this week, 22% think they will go down and 11% think they will go up.

If you have any questions or would like advice tailored to your needs, I would be happy to help! And if you have any family or friends that you think might benefit from my services, I would be grateful for the referral.

Please follow me on Facebook and Twitter.

Mark Smith
Victoria Capital
Los Gatos
408 353 9784
www.MarkSmithLoans.com

Program

No Points (APR)

 1 Point (APR)

Change on Week

Conforming (<$548,250)

30yr Fixed

2.625% (2.69%)

2.375% (2.62%)

-0.125%

10yr ARM

2.25% (2.31%)

1.875% (2.35%)

-0.125%

7yr ARM

2.0% (2.207%)

1.75% (2.35%)

-0.125%

5yr ARM

2.0% (2.15%)

1.75% (2.25%)

No Change

15yr Fixed

2.0% (2.12%)

1.875 (2.29%)

No Change

 High-Cost Conforming (>$548,250<$822,375) *

30yr Fixed

2.75% (2.88%)

2.5% (2.98%)

-0.125%

5yr ARM

2.375% (2.42%)

1.875% (2.38%)

+0.125%

15yr Fixed

2.125% (2.21%)

1.875% (2.27%)

-0.125%

Jumbo (>$822,375) *

30yr Fixed

2.875% (3.01%)

2.75% (3.13%)

No Change

10yr ARM

2.875% (3.07%)

-

No Change

7yr ARM

2.625% (2.79%)

-

No Change

5yr ARM

2.375% (2.59%)

-

No Change

15yr Fixed

2.875% (2.31%)

2.375% (2.23%)

+0.125%

FHA LOANS AVAILABLE WITH JUST 3.5% DOWN to $822,375

Conforming with only 5% down

No Points No Cost Also Available!

APRs calculated on Purchase loan amount of $350k (conforming), $600k (high cost conforming,) and $750k (Jumbo) 21- day lock, 60% LTV, impounds,780 fico.
This is not a commitment to lend. Rates are provided for informational purposes only. Please contact me for rates, products and costs for your individual situation.

*Assumes high cost areas, e.g., Santa Clara County and other Bay Area Counties

DRE: 01395052

NLMS:308562