Courtesy of Ben Lenderman:Â
The big news this week was of course the U.S. Treasury takeover of Fannie Mae and Freddie Mac. Rates surged on the news and put us at levels we haven’t seen since early in the year. At one point we were at 5.625% on the conforming 30 year fixed. We’ve since stabilized a bit since then. It will be interesting to see how the market responds on a longer term basis to the takeover. In the meantime there are other positive signs for rates like oil prices dipping and inflation indicators on the downswing. We could be in for some good rates up until and perhaps through the November election. Time will tell.Â
A ll rates are based on a principal and interest payment and a 1% loan origination fee. Conforming
30 year fixed – 5.750%
5/1 ARM – 5.625%
High Balance Conforming ($567,500 maximum)
30 year fixed – 5.875%
5/1 ARM – 6.000%
Non-Conforming (Jumbo)
30 year fixed – 8.375%...
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