Daily Rate Blast - Medford Oregon Mortgage Interest Rates - August 3, 2011

Daily Rate Blast - Medford Oregon Mortgage Interest Rates - August 3, 2011 

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

30 Year                                                 4.250%   (4.488% APR)                                               

15 Year                                                 3.500%   (3.742% APR)

5/1 ARM                                              3.000%   (3.237% APR)

3/1 ARM                                              3.000%   (3.237% 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                                        4.125%   (4.372% APR)                                               

FHA 15 Year                                        3.250%   (3.490% APR)

VA 30 Year                                          4.125%   (4.372% APR)

USDA 30 Year                                     4.500%   (4.739% 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 +13 bps from yesterday’s close (4.0% coupon now @ 102.69) and the Stock Market is down -89.12 at 11,777.57 this morning. July ADP Non-Farm Payroll were reported up +114K. July ISM Services Index missed expectations at 52.7. June Factory Orders declined -0.8%.Oil is $92.35per barrel and Gold is $1,668.84 per ounce.

Have a great Wednesday!