Rates Still Steady at Close to 3-Year Lows.
Here are approximate Interest Rates for w/e 9/6/2019

Rates were steady again this week and were not impacted by the August employment report (130k jobs created vs 158k forecast). The European Bank Meeting next week and then the Fed meeting the week after will be potential market movers - although the likely .25% reduction in short term rates by the Fed has already been priced into the markets and will not result in a similar reduction in long term home loan rates.

50% of experts think rates will go down this week while 42% think they will stay steady and 8% think they will go up.

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

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

 

Program

No Points (APR)

 1 Point (APR)

Change on Week

Conforming (<$484,350)

30yr Fixed

3.25% (3.32%)

3.0% (3.38%)

No Change

10yr ARM

3.375% (3.58%)

2.875% (3.49%)

No Change

7yr ARM

3.125% (3.28%)

2.75% (3.26%)

No Change

5yr ARM

3.0% (3.17%)

2.75% (3.45%)

-0.125%

15yr Fixed

2.875% (2.98%)

2.5% (2.98%)

No Change

 High Cost Conforming (>$484,350<$726,525) *

30yr Fixed

3.375% (3.48%)

3.125% (3.49%)

-0.125%

5yr ARM

3.5% (3.68%)

3.0% (3.80%)

No Change

15yr Fixed

3.0% (3.16%)

2.75% (3.28%)

No Change

Jumbo (>$726,525)

30yr Fixed

3.75% (3.88%)

3.375% (3.78%)

No Change

10yr ARM

3.625% (3.69%)

3.25% (3.62%)

No Change

7yr ARM

3.25% (3.32%)

2.875% (3.28%)

-0.125%

5yr ARM

3.125% (3.19%)

2.875% (3.28%)

No Change

15yr Fixed

3.5% (3.57%)

3.125% (3.51%)

No Change

 

FHA LOANS AVAILABLE WITH JUST 3.5% DOWN to $726,525

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