With the recent drop in interest rates, I thought it a good idea to give people a realistic idea of where rates are. I rarely post rates, because they change daily, or even multiple times a day. But with the government's $600 billion infusion into our Mortgage-Backed Securities (MBS), rates are significantly lower now then they were a week or two ago. As always, if you have any questions, just drop me a line.
| Mortgage Interest Rates* |
| Rates as of Monday, 1st December, 2008: |
| |
Conforming |
APR |
Payment per
$1,000 |
Jumbo |
APR |
Payment per
$1,000 |
| 30-Yr Fixed |
5.375% |
5.509% |
$5.60 |
5.875% |
5.967% |
$5.92 |
| NJ First-Time Buyer |
7% |
7.148% |
$6.65 |
7% |
7.099% |
$6.65 |
| 100% Financing |
5.5% |
5.635% |
$5.68 |
5.5% |
5.590% |
$5.68 |
| 15-Yr Fixed |
%5.375 |
5.604% |
$8.10 |
5.75% |
5.905% |
$8.30 |
|
|
| *Rates are subject to change due to market fluctuations and borrower's eligibility. |
| Interest rates above are based on 30-day locks with one point. The conforming loan amount used for this ratesheet is $200,000 with a $250,000 purchase price. Non-conforming l/a of $500,000 based on $650,000 purchase price. Credit challenged, recent bankruptcy, first-time buyers, investment properties, and commercial financing also available. Treasury Mortgage/Aurora Financial Group is licensed by the NJ Dept of Banking and Insurance. |
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