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Market Report - New Mortgage Rates 12-1-08

By
Real Estate Agent with Samson Realty

Hi All,

Now is the time. Rates have dropped across the board to 2008 lows. Look below and see what this means.

Mortgage Interest Rates*

Rates as of Saturday, 29th November, 2008:

 

Conforming

APR

Payment per
$1,000

Jumbo

APR

Payment per
$1,000

30 Year Fixed

5.5%

5.658%

$5.68

5.75%

5.933%

$5.84

30/10 Year Interest Only

5.75%

5.910%

$4.79

6.25%

6.438%

$5.21

5/1 Libor Arm

6.000%

6.163%

$6.00

6.250%

6.438%

$6.16

5/1 Libor Arm IO

6.125%

6.289%

$5.10

6.750%

6.944%

$5.63

FHA below $362K 30 yr fixed

5.5%

5.658%

$5.68

%

0.000%

$0.00

FHA above $362K 30 yr fixed

5.5%

5.658%

$5.68

%

0.000%

$0.00

 

 

*Rates are subject to change due to market fluctuations and borrower's eligibility.

All "Non-FHA" rates based on 20% down paying one total point. Borrower must qualify. Seller may pay points and closing costs, not exceed 3% of purchase price. FHA financing with as little as 3% down. Loan amounts to $729,750. Buyer may get a gift for the down payment and seller may pay additional 6% towards closing costs. Rates can change without notice.

 

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