Mortgage Rates FALL again

Mortgage rates fell this week as stocks ended the week at their highest level since May. Freddie Mac reported the 30 year fixed rate loan averaged 4.27% this week, down from 4.37% last week. At that rate, a $200,000 mortgage – not including taxes and insurance – would cost $986 per month.

*** Prospective buyers who get pre-approved by Oct. 31 and close before the end of the year — will receive 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 : 3.875%
Conf 30 year fixed ($417,000-$535,900): 4.0%
FHA 30 year fixed: 4.0%
FHA 5/1 ARM: 2.5%
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.

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