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Mortgage Interest Rates At A New RECORD LOW

By Sabina Kelly

Real Estate Agent with Team OC Realty 01755880

July 07, 2012 02:22 PM

With the Worse than expected unemployment report that came out Friday, Interest rates were brought down to the lowest rate of all time. Below you will find rates for the most commonly used loan programs courtesy of iMortgage.

Please feel free to reach out to me with any questions or if you would like assistance with pre-approvals or general questions. I am available anytime at: 949.201.9918 or email me at: SabinaBrown@gmail.com.

Interest Rates for the Weekend of July 7th & 8th 2012

Conforming to $417,000 with 20% Down

30 yr Fixed	15 yr Fixed	5 yr Fixed ARM
3.3735% - 1/2 point	2.75% - 1 point	2.625% - 1 point
3.50% - No points	3.00% - No points	2.875% - No points

Conforming HB >$417,000 to $625,500 with 20% Down

30 yr Fixed	15 yr Fixed	5 yr Fixed ARM
3.5% - 1 point	3.00% - 1 point	2.750% - 1 point
3.75% - No points	3.25% - No points	2.25% - No points

FHA to $417,000 with 3.5% Down

30 yr Fixed	15 yr Fixed	5 yr Fixed ARM
3.25% - 1 point	3.00% - 1 point	2.50% - 1 point
3.50% - No points	3.50% - No points	2.875% - No points

FHA HB >$417,000 to $729,750 with 3.5% Down

30 yr Fixed		5 yr Fixed ARM
3.50% - 1 point		3.00% - 1 point
3.625% - No points		3.375% - No points

Non-Conforming $2,000,000 with 20% Down

30 yr Fixed

5 yr Fixed ARM

7 yr Fixed ARM

3.875% - 1 point

2.75% - 1 point

3.125% - 1 point

4.125% - No points

3.125% - No points

3.375% - No points

Ask About Financing Options for the Following Types of Programs:

• 1% down payment financing

• 3% down payment conventional financing, great for condos that are not FHA approved
• MCC Tax credits to help your clients qualify easier
• Dissipating and Pledged Asset Programs, great for high net worth clients
• Flip properties and up to 10 financed properties
• FHA loans down to 580 FICO
• 180 Day Extended Lock program for short sales
• 150 Day Lock N Shop program allows clients to lock their loan while looking for homes.
• Many More…

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Winston Heverly

Coldwell Banker Access Realty - South Macon, GA

GRI, ABR, SFR, CDPE, CIAS, PA

Can they get any lower? I'm not sure if this is good news or something terrible about to happen in the near future.

Jul 07, 2012 02:34 PM

Praful Thakkar

LAER Realty Partners - Burlington, MA

Metro Boston Homes For Sale

Sabina, yes, it is unbelievable. When we were in 4s, people thought how low the rates cuould go down further,

And here's the answer, more people are now coming forward.

Jul 07, 2012 03:15 PM

David Farrell

David V. Farrell Co. - Garden City, NY

Licensed NY State Real Estate Broker

Just when I tell buyers that rates can't go any lower - I'm proved wrong. I pride myself on not only being honest, bt also being able to provide useful info. I've been wrong since rates were at 5%. Even then, I thought we had hit bottom; this is incredible.

My suggestions is for people to load up on as much debt as possible under 4%. If inflation takes off, and exceeds 4% per year, the loans will essentially become free and actually make money as people will have cash and be paying back loans with money worth less and less each month.

But, seriously, can they go any lower? One thing I do feel confident in saying is "it's not worth the chance of being wrong - and if they go lower it won't make much difference."

Jul 07, 2012 03:16 PM

Mortgage Interest Rates At A New RECORD LOW

Comments(3)

Sabina Kelly

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Additional Information

30 yr Fixed	5 yr Fixed ARM	7 yr Fixed ARM
3.875% - 1 point	2.75% - 1 point	3.125% - 1 point
4.125% - No points	3.125% - No points	3.375% - No points