Rates At 2 Month Lows.
Approximate rates for week ending 5/7/21
More slight improvements to rates this week and they are now at their lowest for 2 months and only about .125% higher than all-time lows. The addition of low ARM rates give borrowers a chance to get close to 2% without having a shorter term.
67% of experts think that rates will stay steady this week, 22% think they will go down and 11% think they will go up.
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 Week |
|
Conforming (<$548,250) |
|||
|
30yr Fixed |
2.625% (2.69%) |
2.375% (2.62%) |
-0.125% |
|
10yr ARM |
2.25% (2.31%) |
1.875% (2.35%) |
-0.125% |
|
7yr ARM |
2.0% (2.207%) |
1.75% (2.35%) |
-0.125% |
|
5yr ARM |
2.0% (2.15%) |
1.75% (2.25%) |
No Change |
|
15yr Fixed |
2.0% (2.12%) |
1.875 (2.29%) |
No Change |
|
High-Cost Conforming (>$548,250<$822,375) * |
|||
|
30yr Fixed |
2.75% (2.88%) |
2.5% (2.98%) |
-0.125% |
|
5yr ARM |
2.375% (2.42%) |
1.875% (2.38%) |
+0.125% |
|
15yr Fixed |
2.125% (2.21%) |
1.875% (2.27%) |
-0.125% |
|
Jumbo (>$822,375) * |
|||
|
30yr Fixed |
2.875% (3.01%) |
2.75% (3.13%) |
No Change |
|
10yr ARM |
2.875% (3.07%) |
- |
No Change |
|
7yr ARM |
2.625% (2.79%) |
- |
No Change |
|
5yr ARM |
2.375% (2.59%) |
- |
No Change |
|
15yr Fixed |
2.875% (2.31%) |
2.375% (2.23%) |
+0.125% |
FHA LOANS AVAILABLE WITH JUST 3.5% DOWN to $822,375
Conforming with only 5% down
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
