Special offer

Low Rates Create Opportunities For Some.

By
Commercial Real Estate Agent with Access Capital

Conventional fixed rate mortgages touched a new low last Friday. The 30-year fixed mortgage rate available to qualified consumers dropped to 4.375%, down from 4.5%. The 15-year fixed rate also declined, from 4% down to 3.875%. It's worth noting mortgage rates have never been this low.

The decline stemmed from a big increase in mortgage backed securities (MBS) prices on Friday. MBS prices which drive mortgage rates in the opposite direction gained dramatically on a poor jobs number and additional European debt concerns. FHA mortgages continue to closely mirror those of their conventional counter parts. Jumbo mortgage rates are also down. Today's 30-year fixed jumbo loan rate is 5.375%. These rates are available to well qualified consumers paying a standard .075 point loan origination fee. 

Mortgage Rates - available to qualified consumers paying a standard .075 point origination.

30-yr fixed-rate - 4.375%

15-yr fixed-rate - 4.000%

/1 ARM rate - 3.500%

FHA 30-yr fixed-rate - 4.375%

FHA 15-yr fixed-rate - 3.875%

FHA 5/1 ARM rate - 3.500%

VA 30-yr fixed-rate - 4.625%

Jumbo 30-yr fixed-rate - 5.375%

Jumbo Conforming 30-yr fixed-rate - 4.625%

These rates coupled with Real Estate prices having declined from 15% to 40% depending upon where you live creates buying opportunities for first time home buyers or those wishing to move up to a more expensive home.

Posted by

All The Best,

Herb Johnson

859-372-8019 Direct Line

Herb@HerbJohnson.com  Email

www.HerbJohnson.com      Website

Buyers and Sellers wanted. Referrals Appreciated!

4895 Houston Road

Florence, Kentucky  41042

qrcode

 

 

Comments (0)