Mortgage interest rates...what does Monday bring?

Typically I post mortgage interest rates on Fridays.   However since I did not do so at Mortgage Porter last Friday and in light of what's going on in the market, I thought I should share with you what rates are as of 8:00 a.m. today.   The change from Friday's post at RCG (Aug. 3) is included in parenthesis.  The most dramatic changes are for non-conforming (JUMBO) mortgages.

Conforming Mortgage Rates (loan amounts up to $417,000 for 1-unit properties).  Conforming rate quote below based on owner occupied, "full doc" with minimum credit scores of 680 with an 80% loan to value or lower and a loan amount of $400,000.   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: 6.250% (APR 6.392%).  Payment per $1000 = $6.16. (no change).

30 Year Fixed with 10 Year Interest Only:  6.375% (APR 6.518%).  Payment per $1000 = $5.31. (no change).

40 Year Fixed:  6.625% (APR 6.771%).  Payment per $1000 = $5.94. (no change).

7/1 ARM:  6.000%% (APR 6.144%).  Payment per $1000 = $6.00. (improved 0.125%).

5/1 ARM:  5.750%  (APR 5.892%).  Payment per $1000 = $5.83. (improved 0.125%).

5/1 ARM with 10 Year Interest Only:  6.00%  (APR 6.139%).  Payment per $1000 = $5.00.  (no change).

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).  NOTE:  I did not quote JUMBO ARMs on Friday as the 30 year fixed rate was better at the time.   

30 Year Fixed: 7.125% (APR 7.798%).  Payment per $1000 = $6.74.  (increased 0.500% from 8/3/2007).

30 Year Fixed with interest only payments: 7.250% (APR 7.929%).  Payment per $1000 = $6.04.  (increased 0.500% from 8/3/2007).

5/1 ARM:  6.875% (APR %7.538).  Payment per $1000 = $6.57.  (increased 0.750% from 7/27/2007).

5/1 ARM with 10 Year interest only payments: 7.000% (APR .7.668%).  Payment per $1000 = $5.83. (increased 0.875% from 7/27/2007).

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.  Rates are as of 8:30 this morning and may change at any time.  Available programs may change at anytime as well.    This is not a guarantee nor is it a commitment of interest rate.  For your personal rate quote or for loan amounts over $650,000, please contact me.