Friday's Rates

Update 11:30 a.m.:  Rates have improved since the post below thanks to the Core Consumer Price Index (CPI) coming in lower than expected helping to ease a bit of inflation fears.   I will re-post updated rates tomorrow at Rain City Guide.

Conforming Mortgage Rates (loan amounts up to $417,000 for 1-unit properties).  Conforming rate quote below based on owner occupied with minimum credit scores of 680 with an 80% loan to value or lower.  Rates quoted are priced based on a 45 day lock with 1 point and there are no prepayment penalties on any of the rates quoted below.

30 Year Fixed: 6.500% (APR 6.648%).  Payment per $1000 = $6.32

30 Year Fixed with 10 Year Interest Only:  6.625% (APR 6.775%).  Payment per $1000 = $5.52

40 Year Fixed:  6.625% (APR 6.775%).  Payment per $1000 = $5.94

7/1 ARM:  6.250%% (APR 6.392%).  Payment per $1000 = $6.16

5/1 ARM:  6.000%  (APR 6.144%).  Payment per $1000 = $6.00

5/1 ARM with 10 Year Interest Only:  6.125%  (APR 6.270%).  Payment per $1000 = $5.10

JUMBO (Non-Conforming) Rates.   Pricing is based on the same criteria above, with the exception that the loan amount is $417,001-$650,000 (20% down).

30 Year Fixed: 6.625% (APR 6.779%).  Payment per $1000 = $6.40

30 Year Fixed with interest only payments: 6.625% (APR 6.779% ).  Payment per $1000 = $5.52

40 Year Fixed:  6.625% (APR 6.779 %).  Payment per $1000 = $5.94

5/1 ARM:  6.125% (APR 6.274%%).  Payment per $1000 = $6.08

5/1 ARM with 10 Year interest only payments: 6.125% (APR 6.274%).  Payment per $1000 = $5.10

Please do not select your Mortgage Professional by interest rates alone and do not shop rates by APR.    This is just a small sample available of rates and products.   For a specific strategy for your mortgage needs, contact a qualified Mortgage Professional.

Rates are as of 9:30 a.m. PST and may very well change throughout the day.