I know I typically post rates on Fridays...however since I was on vacation last week in Lake Roosevelt with my family and was unable to provide you with an update, I thought I'd break my normal routine and post rates today. I will post rates on Friday at Rain City Guide.
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 a sales price of $500,000 and a loan amount of $400,000. This scenario includes reserves (taxes & insurance) not being waived. Rates quoted are priced based on a 45 day lock (for your personal rate quote based on your lock period, credit score and with or without points, please contact me) and there are no prepayment penalties on any of the rates quoted below.
30 Year Fixed @ 0 Pts: 6.625% (APR 6.566) ~ Priced w/1 Pt: 6.375% (APR 6.535.%).
30 Year Fixed with 10 Year Interest Only @ 0 Pts: 6.750% (APR 6.686%) ~ Priced w/1 Pt: 6.500% (APR 6.648%).
15 Year Fixed @ 0 Pts: 6.000% (APR 6.101%) ~ Priced w/1 Pt: 5.750% (APR 6.006%).
5/1 ARM - LIBOR @ 0 Points: 6.250% (APR 7.203%). Priced w/1 Point: 5.875% (APR 7.150%).
Conforming-Jumbo Rates. Pricing is based on the same criteria above (including zero points) except where the loan amount is $417,001 - $567,500 for properties in King, Snohomish or Pierce Counties. (For other conforming-jumbo loan limits in Washington state, click here); specifically priced for a sales price of $650,000 and a $520,000 loan amount.
30 Year Fixed @ 0 Pt: 6.625% (APR 6.686%) ~ Priced w/1 Pt: 6.375% (APR 6.531%).
30 Year Fixed with 10 Year Interest Only @ 0 Pts: 7.250% (APR 7.308%) ~ Priced w/1 Pt: 6.875% (APR 7.021%).
5/1 ARM - LIBOR @ 0 Pt: 6.875% (APR 7.453%) ~ Priced at 1 Pt: 6.125% (APR 7.243%).
JUMBO (Non-Conforming) Rates. Pricing is based on the same criteria above (zero points), with the exception that the loan amount is $417,001-$650,000 (20% down). The specific scenario used to price the rates below is a sales price of $850,000 with a loan amount of $680,000.
30 Year Fixed @ 0 Pt: 7.875% (APR 7.936%).
30 Year Fixed @ 1 Pt: 7.500% (APR 7.662%).
FHA. Pricing based on credit score of 620 or better and loan amount of $362,790 for FHA in King, Snohomish and Pierce Counties with 1 discount/origination point.
30 Year Fixed @ 1 Pt: 6.500% (APR 7.287%).
FHA-Jumbo. Pricing based on 1 discount/origination point and loan amounts from $362,791 - $567,500 for King, Snohomish and Pierce Counties. For other loan limits in Washington State, click here.
30 Year Fixed @ 1 Pt: 6.500% (APR 7.283%).
VA. Pricing based on credit scores of 620 or better based on loan amount of $417,000. For VA loan amounts over $417,000, please contact me.
30 Year Fixed @ 1 Pt: 6.500% (APR 6.824%).
Prime Rate (what HELOCs are based on): 5.000%
This is just a small sample available of rates and products. Rates are as of Monday, August 15, 2008 at 10:00 a.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.
Mortgage rates continue to be very volatile. Stay tuned with what's going on in the market by subscribing to Mortgage Porter (upper left corner) and Mortgage Porter Twitter for live rate updates (click Follow).
