Rates Remain Range Bound Waiting For Something Definitive to Happen
Approximate Rates for Week Ending 5/9/26
Rates have continued to be range bound over the last two weeks with at most 0.125% daily changes as the market reacts to the news from Iran and the Strait of Hormuz. Fed rate cuts are on a pause (with even some noises that their next move might have to be upwards) as the possibility of prolonged blockage puts upward pressure on energy prices and inflation.
44% of experts think rates go up over the next week while 33% think they will stay steady and 22% think they will go down.
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
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Mark Smith
Victoria Capital
Los Gatos
408 353 9784
www.MarkSmithLoans.com
|
Program |
No Points (APR) |
1 Point (APR) |
Change since last update |
|
Conforming (<$832,750) |
|||
|
30yr Fixed |
6.0% (6.11%) |
5.75% (6.25%) |
+0.125% |
|
30yr FHA |
5.5% (6.29%) |
5.25% (6.32%) |
No Change |
|
30yr FTHB |
6.0% (6.11%) |
5.75% (6.25%) |
+0.125% |
|
10yr ARM |
6.0% (6.21%) |
5.625% (6.30%) |
+0.125% |
|
7yr ARM |
5.875% (6.01%) |
5.375% (5.88%) |
No Change |
|
5yr ARM |
5.75% (5.91%) |
5.25% (5.78%) |
+0.125% |
|
15yr Fixed |
5.5% (5.61%) |
5.125% (5.79%) |
+0.125% |
|
High-Cost Conforming (>$832,750<$1,249,125) * |
|||
|
30yr Fixed |
6.25% (6.41%) |
5.875% (6.48%) |
+0.125% |
|
30yr FHA |
5.625% (6.09%) |
5.375% (6.19%) |
+0.125% |
|
30yr FTHB |
6.0% (6.31%) |
5.875% (6.38%) |
No Change |
|
5yr ARM |
- |
- |
- |
|
15yr Fixed |
6.0% (6.09%) |
5.375% (5.93%) |
+0.25% |
|
Jumbo (>$1,249,125) * |
|||
|
30yr Fixed |
6.0% (6.24%) |
5.75% (6.09%) |
No Change |
|
10yr ARM |
- |
- |
- |
|
7yr ARM |
5.875% (6.04%) |
5.75% (6.24%) |
No Change |
|
5yr ARM |
5.875% (6.04%) |
5.625% (6.19%) |
No Change |
|
15yr Fixed |
6.125% (6.24%) |
5.875% (6.19%) |
No Change |
LOWER HOME AFFORDABLE RATES FOR FIRST TIME HOMEBUYERS (FTHB) SUBJECT TO INCOME LIMITS
No Points No Cost Also Available!Conforming Rates and APRs calculated on Purchase loan amount of $600k (conforming), $900k (high-cost conforming,) and $1.25m (Jumbo) 30- day lock, 60% LTV, impounds,780 fico.
FTHB (First Time Home Buyer) conforming rates based on purchase loan amount of $750,000 with 20% down, High Cost Conforming $1m with 20% down. Subject to Income Limits
FHA Rates and APRs Calculated on Purchase Loan amount of $700k (Conforming) and $1m (High Cost), 30-day lock, 96.5% LTV, 720 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
