Rates Down to Five Month Lows.

 Approximate Rates for Week Ending 7/9/21

Rates have been edging down this last three weeks and are now at the lowest level since February. Inflation concern was the main reason for the spike back then and those fears seem to have abated. That combined with the slow economic recovery, Delta variant complications and the Fed’s continued support of the bond market have settled rates.

58% of experts think that rates will go down this week, 33% 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 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% (2.52%)

-0.125%

10yr ARM

2.5% (2.51%)

2.125% (2.55%)

+0.125%

7yr ARM

2.25% (2.307%)

2.0% (2.45%)

No Change

5yr ARM

2.125% (2.25%)

2.0% (2.35%)

No Change

15yr Fixed

2.0% (2.09%)

1.75 (2.08%)

-0.125%

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

30yr Fixed

2.75% (2.82%)

2.625% (2.98%)

-0.125%

5yr ARM

2.375% (2.37%)

2.0% (2.38%)

No Change

15yr Fixed

2.25% (2.29%)

1.875% (2.25%)

No Change

Jumbo (>$822,375) *

30yr Fixed

2.875% (3.01%)

2.625% (3.09%)

-0.125%

10yr ARM

2.75% (2.97%)

-

-0.125%

7yr ARM

2.625% (2.79%)

-

No Change

5yr ARM

2.375% (2.59%)

-

No Change

15yr Fixed

2.75% (2.11%)

2.375% (2.18%)

-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