Weekend Rates and Market Round-Up and Coverage for 10/3-10/6


Mortgage rates
held at forty year lows this week with the 30 year fixed rate loan averaging 4.32%. In other mortgage related news, Congress extended FHA, Freddie Mac, and Fannie Mae high balance loan limits for another year. Extending the loan limits makes borrowing at the higher price points more affordable. The FHA and conforming high balance limit in the Richmond area is $535,900.‬ ‪ ‬
‪ *** Remember, prospective buyers who get pre-approved by Oct. 31 and close before the end of the year a .5% discount on the rate for the first year! Here are our weekend rates for
purchase loans on single-family homes greater than $150,000 with 20% down and 740+ credit scores :
Conf 30 year fixed to $417,000

: 4.125% Conf 30 year fixed ($417,000-$535,900):

4.25% FHA 30 year fixed:

4.25%

FHA 5/1 ARM:

2.75%

Jumbo 30 year fixed ($528,750+):

4.75%

All rates reflect 1 origination, 0 discount points. Please note rates do vary by credit score, loan amount,

rate lock period, occupancy and loan to value.

Wes Atiyeh
Associate Broker
Long and Foster
804-484-3388
http://www.WesAtiyeh.com

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