Daily Rate Blast - Medford Oregon Mortgage Interest Rates - July 26, 2011

By
Mortgage and Lending with Bank of Oregon a division of Willamette Valley Bank

Daily Rate Blast - Medford Oregon Mortgage Interest Rates - July 26, 2011


This morning’s Conventional FIXED and ARM rate quotes are:                            

30 Year                                                 4.625%   (4.870% APR)                                               

15 Year                                                 3.875%   (4.121% APR)

5/1 ARM                                              3.125%   (3.368% APR)

3/1 ARM                                              3.250%   (3.489% APR)

                                                                                                         

 

*These rates are available for an 80% LTV purchase or rate/term refinance transaction with a 740+ FICO

score and loan amount between $125,000 - $417,000 based upon a 1% Origination Fee and 30 day lock

using Approved Lenders.

 

This morning’s Government FIXED rate quotes are:                                              

FHA 30 Year                                        4.250%   (4.491% APR)                                               

FHA 15 Year                                        3.750%   (3.992% APR)

VA 30 Year                                          4.250%   (4.491% APR)

USDA 30 Year                                     4.750%   (4.989% APR)

 

*These rates are available for a 96.5% LTV purchase (FHA), 100% LTV purchase (VA) or up to 103.63% LTV

purchase (USDA) transaction with a 680+ FICO score and loan amount between $125,000 - $417,000

based upon a 1% Origination Fee and 30 day lock using Approved Lenders.

 

 

MARKET COMMENTS:

 

Mortgage Backed Securities are up +29 bps from yesterday’s close (4.0% coupon now @ 100.63) and the Stock Market is down -54.34 at 12,538.46 this morning. May Case-Schiller 20 City Index up 1.0%, down -4.5 from last year. June New Home Sales down -1.0%, 6.3 month supply. July Consumer Confidence reported up at 59.5. The Treasury Department will auction $35B worth of 2 Year Notes today. Oil is $99.44 per barrel and Gold is $1,614.71 per ounce. 

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Chris Ann Cleland
Long and Foster REALTORS®, Gainesville, VA - Bristow, VA
Associate Broker, Bristow, VA

What's the vibe about mortgage interest rates and this debt ceiling debate on Capitol Hill?  Should Buyers that are considering a property get under contract and get locked?

Jul 27, 2011 04:15 AM #1
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Karen Burket
Bank of Oregon a division of Willamette Valley Bank - Medford, OR
Valley Mortgage Grou, Conventional, FHA, VA, mortgages

Hi Chris!  I know there has been some "speculation" that all this debt ceiling debate will cause rates to increase.  Bear in mind that really, the "only" factor that effects rates are the mortgage backed securities.  In terms of locking in I've always said "a locked loan, is a safe loan".  :)

Jul 27, 2011 05:59 AM #2
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Karen Burket

Valley Mortgage Grou, Conventional, FHA, VA, mortgages
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