Friday Rate Update
Rates improved ever so slightly for the week after a rally Wednesday and giving most of it back yesterday and today.
Rates for the weekend:
FHAs and conforming conventionals are ranging from 6.500% to 6.750%. Jumbos are running from 7.875% to 8.625% .
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 .125% from last week.
Last day to close on any seller assisted DPA loans is September 30th. FHA down payments go to 3.5% October 1st.
Steve Terlau, Cherry Creek Mortgage
303-452-4698