w/e 9/18/20: Rate Continue to Drift Upwards From All Time Lows.
Approximate rates for week ending 9/18/20

The Fed met this week and kept things as they were (0% overnight lender rates does not mean 0% mortgage rates!). Rates continued to edge upwards as more lenders add the .5% government fee. Some seem to be adding it explicitly others seem to be increasing rates gradually to incorporate it.

71% of experts think that rates will stay the same this week, 14% think they will go down and 14% 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 (<$510,400)

30yr Fixed

2.75% (2.83%)

2.375% (2.78%)

+0.125%

10yr ARM

-

-

-

7yr ARM

-

-

-

5yr ARM

-

-

-

15yr Fixed

2.25% (2.32%)

2.0% (2.39%)

+0.125%

 High Cost Conforming (>$510,400<$765,600) *

30yr Fixed

2.875% (2.99%)

2.5% (2.96%)

No Change

5yr ARM

-

-

-

15yr Fixed

2.375% (2.51%)

2.0% (2.38%)

No Change

Jumbo (>$765,600)**

30yr Fixed

3.0% (3.05%)

2.875% (2.95%)

-

10yr ARM

3.375% (3.42%)

3.25% (3.47%)

-

7yr ARM

3.125% (3.29%)

3.00% (3.33%)

-

5yr ARM

2.875% (2.99%)

2.75% (3.07%)

-

15yr Fixed

-

-

-


FHA LOANS AVAILABLE WITH JUST 3.5% DOWN to $765,600

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