Flat rates this week.

Mortgage rates were fairly flat this week with Freddie Mac reporting  that the 30 year fixed rate mortgage averaged 4.61% this week.  In related news,  Acting Comptroller of the Currency John Walsh  warned of unintended consequences of new lending regulations. He cautioned that it is hard to predict how the 15 to 20 new mortgage lending rules in the works will work together ;” but it is certain that they will raise costs for lenders — which will in turn, raise costs for buyers.

Here are our current  rates for purchase loans above $150,000 for buyers with 740+ credit scores and 30 day rate locks:

30 year fixed ($150,000-$417,000): 4.5%  ( 4.875% for investment properties with 25% down!)
30 year fixed ($417,000-$535,900):   4.625%
FHA/VA  30 year fixed: 4.25%
FHA 5/1 ARM: 3.25%
Jumbo 30 year fixed:  4.875%

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


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