Rate Update from Steve Terlau of Cherry Creek Mortgage
This past week has been one of the most stable we've seen all year with rates slightly lower than a week ago.
Rates for the weekend:
FHAs and conforming conventionals are ranging from 6.500% to 6.875%. Jumbos are running from 7.875% to 8.625% . 3/1 Jumbo ARMS are starting around 6.250%
Using CHFAs silent second to achieve 100% financing has rates running 7.125% for non-1st time home buyers and 6.500% for qualified 1st time homebuyers. These are down .250% from last week.
Remember, if you have a buyer needing to use a down payment assistance program, they need to do so before October 1st as the new legislation is eliminating the use of those programs.
Please let us know if we can help you with your mortgatge needs!
Steve Terlau - 303-452-4698 Lender
Shelli Dore - 303-942-0648 Real Estate Consultant