Oceanside California mortgage rates December 4, 2009

Oceanside California mortgage rates are posted below.  Although this information is for Oceanside these rates are for the entire state of California.

If you're in the Oceanside area and considering a refinance or a purchase you'll likely be looking at mortgage interest rates.  Shopping for the best mortgage rate can be difficult if you don't know what to look for.  The mortgage rates offered are only one part of the equation.  The fees associated with those mortgage rates are equally important.  To make it more confusing (not trying to) the date the mortgage rates were posted and the current market rate is also important.

You see, mortgage rates change daily.  They are determined by the sale and purchase of mortgage backed securities (MBS).  Your mortgage is sold on the bond market in the form of an investment (security).  When a lot of these MBS are being bought the mortgage interest rates drop.  When there is a sell off mortgage interest rates increase.  Even a loan that you get from the small credit union in Oceanside has a chance to be sold as a security.

Not many loan officers in Oceanside or around the country use technology available to them to monitor the purchase and sale of MBS.  Many use the  10 year note which has nothing to do with mortgage rates.  Ask the lender you like to use what they use to determine interest rates.  If they tell you the 10 year note, then they don't know what they are talking about.

If you use a loan officer without these tools you won't know when rates are about to drop and you might lock in at a higher mortgage rate.  With the median price of a home in Oceanside being higher than many other areas of California, this could cost the home owner tens of thousands of dollars over the life of the loan.

We've been in business since 1977!  Let our team find you the most favorable terms in the market. 

California Mortgage Interest Rates for Fixed Rate Mortgages*

Rates as of Friday, 4th December, 2009:       Conforming           Term       Rate            APR        Payment         Rate         APR       Payment                                                                              Per $1,000                                   Per $1,000

Term Conforming APR Payment per $1,000 Jumbo APR Payment per $1,000 30-Yr. fixed 360 4.625% 4.796% $5.14 4.75% 4.767% $5.22 15-Yr. fixed 180 4.125% 4.419% $7.46 4.25% 4.280% $7.52 7-Yr. fixed ARM 360 3.75% 3.912% $4.63 % 0.000% $0.00 5-Yr. fixed ARM 360 3.5% 3.660% $4.49 3.500% 3.516% $4.49 10 Yr. fixed ARM 360 4.375% 4.543% $4.99 % 0.000% $0.00 5-Yr. Interest Only 360 3.625% 3.786% $3.02 % 0.000% $0.00

*Rates are subject to change due to market fluctuations and borrower's eligibility.

Certain credit requirements and other conditions apply. This is not a guarantee to lend. Rates based on a 12 day lock period and a minimum loan amount of 165,000. Credit determination must be made prior to approving rate. Equal opportunity lender. CA DRE Lic.#01366552 FPF CA DRE Lic#00654852 Nevin's NC Lic#I139451 First Priority Financial NC Lic# B-146523-101 OR ML3337 WA 510-MB-30588-51099

 Serving California since 1977

 1902 Wright Place 2nd floor Carlsbad California 92008*

 First Priority Financial is licensed by the California DRE # 654852  Nevin's California DRE license 016552

  The opinions expressed in this blog are not necessarily those of First Priority Financial.

3700 Hillborn Rd #700, Fairfield, California 94534.   This is not a guarantee to lend.  * Not a licensed branch.