Daily Rate Blast - Medford Oregon Mortgage Interest Rates - June 1, 2011

Daily Rate Blast - Medford Oregon Mortgage Interest Rates - June 1, 2011

This morning’s Conventional FIXED and ARM rate quotes are:                            

30 Year                                                 4.500%   (4.742% APR)                                               

15 Year                                                 3.750%   (3.993% APR)

5/1 ARM                                              3.125%   (3.369% APR)

3/1 ARM                                              3.125%   (3.369% APR)                                                                                                         

*These rates are available for an 80% LTV purchase or rate/term refinance transaction with a 740+ FICO

score and loan amount between $125,000 - $417,000 based upon a 1% Origination Fee and 30 day lock

using Approved Lenders.

This morning’s Government FIXED rate quotes are:                                              

FHA 30 Year                                        4.250%   (4.491% APR)                                               

FHA 15 Year                                        3.750%   (3.992% APR)

VA 30 Year                                          4.250%   (4.491% APR)

USDA 30 Year                                     4.625%   (4.870% APR)

*These rates are available for a 96.5% LTV purchase (FHA), 100% LTV purchase (VA) or up to 103.63% LTV

purchase (USDA) transaction with a 680+ FICO score and loan amount between $125,000 - $417,000

based upon a 1% Origination Fee and 30 day lock using Approved Lenders.

MARKET COMMENTS:

Mortgage Backed Securities are up +56 bps from yesterday’s close (4.0% coupon now @ 101.22) and the Stock Market is down -150.87 at 12,418.92 this morning. May ADP Jobs Report disappointed at +38K, off 137K from target. May ISM Manufacturing Index dropped from 60.4 to 53.4. April Construction Spending rose +0.4%. You can almost see QE3 on the horizon. Oil is $101.98 per barrel and Gold is $1,548.74 per ounce.