Weekly Wrap-up of Rates
If you like volatility and uncertainty, this was your week. The bond market traded in a 200bps range only to end up about where it was a week ago. Rates for most loan products improved slightly. CHFA was a notable exception rising again this week. The CHFA rate increases of the last couple of weeks are a direct result of the tightening credit markets. Now that the Rescue Bill has been signed into law, we should see these start to ease back down.
Rates for the weekend:
FHAs and conforming conventionals are ranging from 6.000% to 6.875%. Jumbos are running from 7.250% to 8.000%.
Using CHFAs silent second to achieve 100% financing has rates running 7.625% for non-1st time home buyers and 7.000% for qualified 1st time homebuyers. These are up 1/4 % from last week.
If you haven’t already, check out the information on the $7500.00 Federal Income Tax Credit. Click Here
Steve Terlau
Cherry Creek Mortgage
303-452-4698
Thanks for the weekly update Steve, Shelli