Rates Stay Steady for Now as Bond Market Finds its Footing.

 Approximate Rates for Week Ending 6/24/22

Conforming rates have leveled off for now as the long-term bond and mortgage-backed securities settled down after the Fed’s .75% increase last week. Inflation looks to remain the biggest factor in determining future direction and the market remains highly volatile.

45% of experts think that rates will go up this week, 36% think they will go down and 18% think they will stay steady.

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 Month

Conforming (<$647,200)

30yr Fixed

5.125% (5.21%)

4.875% (5.38%)

-0.125%

10yr ARM

-

-

-

7yr ARM

5.0% (5.11%)

4.5% (5.08%)

-

5yr ARM

4.75% (4.81%)

4.125% (5.78%)

-

15yr Fixed

4.5% (4.48%)

4.125% (4.41%)

+0.125%

High-Cost Conforming (>$647,200<$970,800) *

30yr Fixed

5.375% (5.49%)

5.125% (5.51%)

-0.125%

5yr ARM

-

-

-

15yr Fixed

4.875% (4.99%)

4.375% (4.92%)

-

Jumbo (>$970,800) *

30yr Fixed

5.00% (5.09%)

4.875% (5.09%)

-0.25%

10yr ARM

-

-

-

7yr ARM

4.875% (4.97%)

4.5% (4.87%)

+0.625%

5yr ARM

4.875% (4.97%)

4.375% (4.87%)

+0.625%

15yr Fixed

4.75% (4.88%)

-

+0.25%

No Points No Cost Also Available!

APRs calculated on Purchase loan amount of $350k (conforming), $600k (high-cost conforming,) and $1m (Jumbo) 30- 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