Maureen Megowan's Blog

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Interest Rates Improve Over Last Week

We saw a little bit of improvement this week in the Mortgage Backed Securities or bond market which is trending interest rates lower.  Hopefully this will continue.  Interest Rates have generally moved down about one-quarter of a percentage point in the last week. Great news for buyers!!!!!




The following are interest rate quotes from Al Hermann of American/California Financial Services :

Conforming 30 Yr Fixed up to $417,000
5.000% Rate
5.141% APR
Pricing based on 740 credit score, 65% Debt to Income Ratio, 80% Loan to Value Ratio, $417000 Loan Amount, 30 Lock Days, Qualified Borrowers Only. When Mortgage Insurance is applicable, it is not calculated in the APR
 
Conforming 30 Yr Fixed $417,001 - $625,500
5.375% Rate
5.511% APR
$729,750 limit available
Pricing based on 740 credit score, 55% Debt to Income Ratio, 80% Loan to Value Ratio, $625500 Loan Amount, 30 Lock Days, Qualified Borrowers Only. When Mortgage Insurance is applicable, it is not calculated in the APR
 
FHA 30 Year Fixed
5.125% Rate
5.277% APR
Pricing based on 680 credit score, 55% Debt to Income Ratio, 96% Loan to Value Ratio, $417000 Loan Amount, 30 Lock Days, Qualified Borrowers Only.
 
Jumbo 7 Year ARM
5.750% Rate
5.845% APR
Pricing based on 740 credit score, 39% Debt to Income Ratio, 70% Loan to Value Ratio, $950000 Loan Amount, 30 Lock Days, Qualified Borrowers Only.

 

For more information about Financing your purchase of a home on the Palos Verdes Peninsula, visit my website at http://www.maureenmegowan.com

For more information about Palos Verdes and South Bay Real Estate and buying and selling a home on the Palos Verdes Peninsula, visit my website at http://www.maureenmegowan.com . I try to make this the best real estate web blog in the South Bay Los Angeles and the Palos Verdes Peninsula. I would love to hear your comments or suggestions.

Comment balloon 0 commentsMaureen Megowan • June 26 2009 03:45PM
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