Interest Rate Update 02-27-10

By
Real Estate Broker/Owner with Maui Life Homes / Metro Life Homes RS-78439 / BRE #01708344

These rates are typical for the PURCHASE SFR borrower with excellent credit and a sizable down payment, exclusive of FHA for the down payment.

Take a look at FHA 5/1 ARM rates below, as those rates are at 3.375% for all loans up to $729,750-this is amazing! This can be a very attractive alternative for FHA buyers. I do not recall ever seeing FHA ARM rates that low.

Conventional Loans:

30 Year Fixed Conforming---$417,000 and Below: 4.875% with 1 Point

30 Year Fixed High Balance Conforming---$417,001 to $729,750: 5.0% with 1 Point

30 Year Fixed Jumbo---$729,751 to $1,000,000: 5.5% with 1 Point

5/1 ARM Jumbo---4.75% with 1 Point-amazing for Jumbo product

 

FHA Loans:

FHA 30 Year Fixed---$417,000 and Below: 4.875% with 1 Point

FHA 5/1 ARM---$417,000 and Below: 3.375% with 1 Point

FHA 30 Year Fixed High Balance---$417,001 to $729,750: 5.0% with 1 Point

FHA 5/1 ARM High Balance---$417,001 to $729,750: 3.375% with 1 Point

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  1. Richard Ruggaber 03/04/2010 02:20 AM
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Rainmaker
4,432,093
Gita Bantwal
RE/MAX Centre Realtors - Warwick, PA
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel

I love the fha 5-1 arm rate. I did not know it was so low.

Feb 26, 2010 10:06 PM #1
Rainer
407,122
Randy Ostrander
Lake and Lodge Realty LLC - Big Rapids, MI
Real Estate Broker, Serving Big Rapids and West Central MI

I have not ever seen FHA ARM rates that low either. Could open a door for a lot of people who otherwise wouldn't be able to buy.

Feb 26, 2010 10:11 PM #2
Rainer
166,615
Andy Chaudoir
Professional Inspection Services - Georgetown, Texas - Georgetown, TX
Your Home Inspection Connection in Central Texas

Hello ralph - Thanks for the update.  Have a great weekend.

Feb 26, 2010 11:44 PM #3
Rainmaker
320,510
Carra & Shae Riley
Brokers Guild Cherry Creek Ltd - Westminster, CO
Helping people Transition at all ages!

Ralph...Rates are indeed attractive.  They certainly should help people wanting to purchase now.  Thanks for the info.

Cosmic Cow

Feb 27, 2010 02:59 AM #4
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