Friday’s Rates
Banks and most mortgage companies will be closed on Monday, November 12, 2007 in honor of Veterans Day.
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: 5.990% (APR 6.129%). Payment per $1000 = $5.99.
30 Year Fixed with 10 Year Interest Only: 6.375% (APR 6.515%). Payment per $1000 = $5.31.
40 Year Fixed: 6.375% (APR 6.517%). Payment per $1000 = $5.77.
5/1 ARM: 5.500% (APR 5.633%). Payment per $1000 = $5.68.
5/1 ARM 10 Year Interest Only Payments: 5.625% (APR 5.795%). Payment per $1000 = $4.69.
FHA/VA 30 Year Fixed: 6.250% (APR 6.895%). Payment per $1000 = $6.16. (not including MI for FHA).
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 6.775%). Payment per $1000 = $6.40.
30 Year Fixed with 10 Year Interest Only Payments: 6.750% (APR 6.901%). Payment per $1000 = $5.63.
5/1 ARM: 6.250% (APR 6.396%). Payment per $1000 = $6.16.
5/1 ARM Interest Only: 6.250% (APR 6.396%). Payment per $1000 = $5.21.
This is just a small sample available of rates and products. Rates are as of Friday, November 9, 2007 at 12:00 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.
About the Author: Rhonda Porter
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