Friday's Rates for Washington State

Conforming Mortgage Rates (loan amounts up to $417,000 for 1-unit properties).  The conforming rate quote below is based on owner occupied, "full doc" purchase with minimum credit scores of 680 with an 80% loan to value or lower, a loan amount of $400,000, and with reserves (taxes & insurance) not being waived.   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: 5.500% (APR 5.640%).   

30 Year Fixed with 10 Year Interest Only:  5.875% (APR 6.004%).   

15 Year Fixed: 4.875% (APR 5.104%). 

7/1 ARM (5/2/5 caps - 2.25 margin):  4.875% (APR 6.427%). 

7/1 ARM 10 Year Interest Only Payments (5/2/5 caps - 2.25 margin):  5.125% (APR 6.601%).

FHA/VA 30 Year Fixed:  5.750% (APR 6.279%)

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: 6.375% (APR 6.530%).  Payment per $1000 = $6.24.

30 Year Fixed with 10 Year Interest Only Payments: 6.750% (APR 6.901%).   

7/1 ARM (5/2/5 caps - 2.25 margin):  5.250% (APR 6.599%).   

7/1 ARM Interest Only:  5.375% (APR 6.725%). 

Prime Rate (what HELOCs are based on):  6.00%

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 Friday, February 8, 2008 at 3:00 p.m. 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.