Friday’s Rates February 22, 2008
Conforming Rates: based on a sales price of $500,000 with a loan amount of $400,000 and minimum credit score of 680, full-doc mortgage with reserves (taxes and insurance included in the mortgage payments). Rates are priced based on a 45 day lock and are priced with 1 discount/origination point.
30 Year Fixed: 6.000% (APR 6.156%)
15 Year Fixed: 5.375% (APR 5.627%)
10/1 ARM - 5/2/5 Caps: 5.625% (APR 6.503%)
10/1 ARM Interest Only - 5/2/5/ Caps: 5.625% (6.541%)
7/1 ARM - 5/2/5 Caps: 5.125% (APR 6.551%)
FHA/VA 30 Year Fixed: 6.125% (APR 6.654%)
Jumbo (Non-Conforming Rates). Pricing based on purchase with 20% down and minimum loan amount of $417,001 with a minimum credit score of 680, full document loan with reserves and a 45 day lock.
30 Year Fixed: 6.875% (APR 7.020%)
10/1 ARM: 6.125% (APR 6.805%)
10/1 ARM Interest Only: 6.750% (APR 7.230%)
7/1 ARM Interest Only: 6.375% (APR 7.205%)
5/1 ARM: 5.500% (APR 7.036%)
Prime Rate (what HELOCs are based on): 6.000%
Rates are as of Friday, February 22, 2008 at 3:00 p.m. This is not a guarantee nor is it a commitment to interest rate. For your personal rate quote or for loan amounts over $650,000; please contact your Mortgage Professional.
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- Author : Rhonda Porter
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