Rates Up Off Their Lows After Jobs Report but Showing Signs of Recovering.
Here are approximate Interest Rates for w/e 7/19/2019

The better-than-expected employment for June published two weeks ago caused rates to increase for most of the following week after and into this. They have started to recover downwards over the last couple of days though. The Fed is expected to decrease short term rates at their next meeting at the end of July. The probable .25% cut together with their longer term signaling of intention has already been priced into the market (and the main reason for the dip over the last few weeks). The economic data has been reasonable however which might change their outlook - the stronger the economic data over the next few weeks the more likely rates will rise while weak economic data will improve the chances of reductions.

50% of experts think rates will stay steady this week 42% think they will increase, and 5% think they will go down.

If you have any questions or would like advice tailored to your needs, I'd be very happy to help! And if you have any family or friends that you think might benefit from my services, I would be very 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 Week

Conforming (<$484,350)

30yr Fixed

3.625% (3.82%)

3.25% (3.78%)

+0.125%

10yr ARM

3.625% (3.78%)

3.25% (3.79%)

+0.25%

7yr ARM

3.375% (3.58%)

3.0% (3.66%)

No Change

5yr ARM

3.375% (3.57%)

2.75% (3.45%)

No Change

15yr Fixed

3.0% (3.22%)

2.75% (3.22%)

No Change

 High Cost Conforming (>$484,350<$726,525) *

30yr Fixed

3.75% (3.88%)

3.375% (4.79%)

+0.25%

5yr ARM

3.75% (3.88%)

3.125% (3.90%)

+0.125%

15yr Fixed

3.125% (3.26%)

2.75% (3.28%)

No Change

Jumbo (>$726,525)

30yr Fixed

3.75% (3.88%)

3.5% (3.88%)

-0.125%

10yr ARM

3.75% (3.79%)

3.375% (3.62%)

+0.125%

7yr ARM

3.25% (3.32%)

2.875% (3.33%)

-0.125%

5yr ARM

3.25% (3.33%)

2.875% (3.18%)

+0.125%

15yr Fixed

3.375% (3.47%)

3.125% (3.51%)

No Change

FHA LOANS AVAILABLE WITH JUST 3.5% DOWN to $726,525

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