Rates Remain Close to Highs.

 Approximate Rates for Week Ending 9/8/2023

There was a slight improvement this week but nothing significant – rates remain at the highest they have been for decades and there doesn’t seem to be any reasons why they would go down soon.

75% of experts think rates will go up in the coming week, 17% think they will go down and 8% think they will stay the same.

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

LOWER HOME AFFORDABLE RATES AVAILABLE FOR FIRST TIME HOMBUYERS SUBJECT TO INCOME LIMITS

Program

No Points (APR)

 1 Point (APR)

Change since last update

Conforming (<$726,200)

30yr Fixed

6.75% (6.83%)

6.5% (6.81%)

-0.125%

30yr FHA

6.25% (6.47%)

6.-% (6.51%)

-0.25%

10yr ARM

-

-

-

7yr ARM

-

-

-

5yr ARM

-

-

-

15yr Fixed

6.625% (6.73%)

6.0% (6.71%)

-0.125%

High-Cost Conforming (>$726,200<$1,089,300) *

30yr Fixed

7.125% (7.19%)

6.175% (7.14%)

-0.125%

30yr FHA

6.5% (7.02%)

6.125% (6.71%)

-0.125%

5yr ARM

-

-

-

15yr Fixed

6.75% (6.87%)

6.735% (6.83%)

-0.25%

Jumbo (>$1,089,300) *

30yr Fixed

7.125% (7.24%)

-

-0.125%

10yr ARM

-

-

 

7yr ARM

7.0% (7.04%)

6.75% (7.07%)

-0.125%

5yr ARM

6.875% (6.94%)

6.625% (6.91%)

-0.125%

15yr Fixed

-

-

-

No Points No Cost Also Available!

Conforming Rates and APRs calculated on Purchase loan amount of $600k (conforming), $760k (high-cost conforming,) and $1.1m (Jumbo) 30- day lock, 60% LTV, impounds,780 fico.

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