Interest Rate - Weekend Report
It's been an ugly week for mortgage bonds which have lost 140 basis points since last Friday. On average, rates have increased about a 1/2%.
Rates for the weekend:
FHAs and conforming conventionals are ranging from 6.750% to 7.250%. Jumbos are running from 8.250% to 8.875%. The Jumbo Hybrid ARMs are really starting to make some sense, 5/1 Jumbo ARMS are starting around 6.00%
Using CHFAs silent second to achieve 100% financing has rates running 7.250% for non-1st time home buyers and 6.625% for qualified 1st time homebuyers. These are up .125% from last week.
Be aware that several large 2nd mortgage lenders have pulled out of the market or have further reduced loan to values making 80/10/10s much more difficult.
Remember I have a team of professionals in place to help you navigate the loan process and guide you with deciding which loan fits your financial goals!
Shelli Dore
303-942-0648