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Mortgage Interest Rates for Friday November 16, 2007

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: 5.875% (APR 6.011%).  Payment per $1000 = $5.92.

30 Year Fixed with 10 Year Interest Only:  6.250% (APR 6.386%).  Payment per $1000 = $5.10. 

40 Year Fixed:  6.375% (APR 6.517%).  Payment per $1000 = $5.77.

5/1 ARM (2/2/6 caps):  5.500% (APR 5.633%).  Payment per $1000 = $5.68.

5/1 ARM 10 Year Interest Only Payments:  5.625% (APR 5.761%).  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 16, 2007 at 11:30 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.  For your personal rate quote or for loan amounts over $650,000, please contact me.

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