Rates Drop to Four Month Lows and Close to Three Year Lows
Approximate rates for weekending 1/24/2019

Rates dropped further this week to hit multi-month lows and we are close to the lowest rates since the 2016 Election. The unexpected news that moved them this week (as was needed as per last week’s newsletter) was the concerns over the Corona Virus which caused unease in financial markets.

69% of experts think that rates will stay steady over the next week while 31% think they will go down. No one thinks 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.

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

3.25% (3.42%)

3.125% (3.48%)

-0.125%

10yr ARM

3.25% (3.38%)

2.875% (3.39%)

No Change

7yr ARM

3.25% (3.19%)

2.75% (3.16%)

No Change

5yr ARM

3.25% (3.37%)

2.875% (3.35%)

No Change

15yr Fixed

3.0% (3.08%)

2.625% (3.08%)

+0.125%

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

30yr Fixed

3.375% (3.47%)

3.125% (3.49%)

-0.125%

5yr ARM

3.5% (3.63%)

3.125% (3.80%)

-0.125%

15yr Fixed

3.0% (3.09%)

2.75% (3.18%)

-0.125%

Jumbo (>$765,600)

30yr Fixed

3.5% (3.68%)

3.25% (3.78%)

-0.125%

10yr ARM

3.25% (3.39%)

2.875% (3.32%)

-0.125%

7yr ARM

3.0% (3.09%)

2.625% (3.10%)

No Change

5yr ARM

2.875% (2.89%)

2.625% (3.20%)

-0.125%

15yr Fixed

3.125% (3.27%)

2.75% (3.28%)

-0.125%

 

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