Weekend Rates and Market Round-up

Freddie Mac reported that mortgage rates rose for the first time in five weeks, with the 30 year fixed rate loan averaging 4.21%, up from 4.19% last week. The index of U.S. leading economic indicators rose for the third straight month, signaling the recovery will continue into 2011.

***Prospective buyers have until the 31st to be eligible for a .5% discount on a 30 year fixed rate loan. Buyers must get pre-approved by the 31st and close by the end of the year to receive the discount.***

Here are our weekend rates for buyers with 740+ credit scores:

Conv 30 year fixed ($125,000-$417,000): 4.0%
Conv 30 year fixed: ($417,000-$535,900): 4.125%
FHA 30 year fixed: 4.125%
FHA 5/1 ARM: 2.625%
Jumbo 30 year fixed: 4.75%

Please note all rates reflect a 1% origination fee. Rates do vary by loan amount, credit scare, occupancy, and loan-to-value.

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