Need some good news for a change?
We are happy to announce that interest rates have continued their decline following the weekend announcement by the US Treasury Department. In fact, the 15 year fixed is near 5.5%. This presents all of us with a tremendous opportunity to get into contact with our buyers and let them know that rates have swung into their favor and now is the time to execute on a purchase.
9/9/2008 |
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Average rate change from yesterday: |
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-0.3% |
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Program |
Rate %* |
Points |
Monthly Payment** |
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Conforming Loan Rates ($417,000 or less) |
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30 Year Fixed |
5.750% |
1.00 |
$1,167.15 |
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6.000% |
0.00 |
$1,199.10 |
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15 Year Fixed |
5.375% |
1.00 |
$1,620.93 |
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5.552% |
0.00 |
$1,639.69 |
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Conforming Plus Loan Rates ($417,001 to $729,750) |
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30 Year Fixed |
5.690% |
1.00 |
$2,927.82 |
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6.125% |
0.00 |
$3,068.43 |
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FHA Loan Rates ($362,790 to $729,750) |
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30 Year Fixed |
5.875% |
1.00 |
$2,146.04 |
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6.000% |
0.00 |
$2,175.11 |
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* Due to market fluctuations, interest rates are subject to change at any time and without notice. Interest rates are also subject to credit and property approval based on secondary market guidelines. The rates shown are based on average rates for qualified customers purchasing owner occupied, single family properties. Your buyer's individual rate may vary. |
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** Conforming monthly payments are based upon a $200,000 loan amount, Jumbo payments are based upon $505,000, and FHA monthly payments utilize the lower loan limit of $362,790. |
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