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.
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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