Mortgage rates rise for 4th straight week

Freddie Mac’s weekly survey of  mortgage lenders showed  30- year rates rose for the fourth straight week, averaging 4.91%. This is up from the average of 4.87% a week ago, but still lower than the 5.01% average from a year ago.

Keep in mind that in addition to reduced rates, for buyers of investment properties and those seeking jumbo loans, Prosperity has the ability to accommodate quick closings. Thirty day closings can give your buyers an edge in negotiating with sellers. And having in-town underwriters  -and a closing department that knows the local attorneys – means your buyers will close on time in spite of today’s strict lending standards.

Here are our current  rates for purchase loans above $ 200,000 for buyers with 740+ credit scores and 30 day rate locks:

30 year fixed with 25% down: ($150,000-$417,000): 4.75%  ( 4.875 % for investment properties with 25% down!)
30 year fixed with 25% down: ($417,000-$535,900):  4.875%
FHA/VA  30 year fixed: 4.625%
FHA 5/1 ARM:3.25%
Jumbo 30 year fixed:5.0%

All rates reflect a 1% origination fee. Please note rates  vary by occupancy, credit score, rate lock period, and loan-to-value.

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