Rates & Weekly Update
Interest rates have continued their roller coaster ride last week ending up slightly better than the previous week.
FHAs and conforming conventionals are ranging from 6.625% to 7.125%. Jumbos are running from 8.125% to 8.875% . 3/1 Jumbo ARMS are starting around 6.375%
Using CHFAs silent second to achieve 100% financing has rates running 7.375% for non-1st time home buyers and 6.750% for qualified 1st time homebuyers. These are up .125% from last week.
The new housing bill seems certain to become law. There are many ramifications still being sorted out but two that impact FHA are an increase in down payment to 3.5% and the elimination of the down payment assistance programs such as Ameridream.
Let my team of professionals help you understand rates - Shelli Dore 303-942-0648