Rates continue to fall

Mortgage rates once again hit record lows this week according to data from Freddie Mac. That marks the third straight week of record lows. Despite positive economic news here in the US that industrial production was up and consumer sentiment hit its highest level scince 2008, the Treasury bond market continued to show strength. The turmoil in Europe continued to overshadow positive data at home. The low interest rates are encouraging demand and applications for mortgages were up 9.2% last week.
**Please note: During this busy season it is imperative that we take the time to have our clients pre-approved before going out to look at properties. This will make things easier for all parties.
**Please see below for purchase loan rates on single-family homes greater than $150,000 with 20% down and 740+ credit scores.

Conf 30 year fixed to $417,000: 3.6255%
Conf 15 year fixed: 2.75%
Conf 30 year fixed ($417,000-$535,900): 3.875%
FHA 30 year fixed: 3.75%
FHA 5/1 ARM: 2.75%
Jumbo 30 year fixed ($528,750+): 4.0%
All rates except FHA 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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