Home prices up sharp- Int rates stay low

Mortgage rates held at record lows this week as fresh data showed home prices in the nation’s largest cities rose sharply from May to June. In other industry related news, 25% of banks reported tightening lending standards for would-be mortgage holders in the last few months. In order to avoid hiccups and closing delays, prospective buyers should submit all their documentation to a reputable and experienced lender well in advance of beginning their home search.

Please note we have special rates for our purchase customers, please call for rates on refinances.

Here are our weekend rates for purchase loans for borrowers with credit scores over 740 and at least 20% down:

Conf 30 year fixed to $417,000: 3.5%
Conf 30 year fixed ($417,000-$535,900): 3.5%

FHA 30 year fixed: 3.25%

FHA 5/1 ARM: 2.25%

Jumbo 30 year fixed ($528,750+): 3.75%

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.

Emily Scarborough
Prosperity mortgage

Advertisements
%d bloggers like this: