Daily Rate Blast - Medford Oregon Mortgage Interest Rates - August 24, 2011

Daily Rate Blast - Medford Oregon Mortgage Interest Rates - August 24, 2011

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

30 Year                                                 4.250%   (4.492% APR)                                               

15 Year                                                 3.375%   (3.619% APR)

5/1 ARM                                              3.125%   (3.373% APR)

3/1 ARM                                              3.125%   (3.373% 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                                        3.875%   (4.121% APR)                                               

FHA 15 Year                                        3.250%   (3.490% APR)

VA 30 Year                                          3.875%   (4.121% APR)

USDA 30 Year                                     4.375%  (4.621% 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 down -9  bps from yesterday’s close (4.0% coupon now @ 103.63) and the Stock Market is down -14.53 at 11,162.23 this morning. July Durable Goods Orders rose +4.0%. The Treasury Department will auction $35B worth of 5 Year Notes today. Oil is $85.78per barrel and Gold is $1,767.76 per ounce.