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August 2011

Found 9 blog entries for August 2011.

Approximately:

 

30 Year fixed Purchase Loans

4.125 % (APR 4.128%) Conforming: (loan amounts under $417,000) $242.32 per $50K (Calculate at $50,000 increments to figure P&I pymts)

4.5% (APR 4.51%)Jumbo (loan amounts up to $546,250)

4.625% (APR 4.72%) JUMBO, AND… 5/1 is only 3.375% (APR 3.38) & 7/1 3.625% (3.69 APR) at 2,000,000

 

FHA/VA

4.125% (APR 4.127%)

 

15 Year fixed

3.125% Conforming (APR 3.171%) $348.30 per $50K

 

NON-OWNER OCCUPIED

1 Unit 4.75% (APR 4.79%)

3-4 Unit 5.0% (APR 5.11%)

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Average 30 year fixed mortgage rates have fallen to historic lows; 4.41%.  Many Lund Team clients have reported securing fixed rate loans even lower lower (4.1%-4.25%) depending on their individual situation. 

There is much discussion about the future of low mortggae rates.  Many economists argue that we should expect an extended period of low mortgage rates as the economy contracts during a recession.  

Our local mortgage contacts report heavy volumn in #'s of property refinances. 

The 15-year fixed-rate rose 5 basis points to 3.63 percent. The average rate for 30-year jumbo mortgages, or generally for those of more than $417,000, was 4.94 percent, up 5 basis points from last week.

The 5/1 ARM fell 3 basis points to 3.12 percent. With a

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Wonderful Single Level Residence. Turnkey Interior. Quiet Cul-De-Sac Location. Property Backs to Open Space. Nearby Hicking Trails. Spacious Back Yard. Numerous Enhancements... Flooring, Fresh Paint, Windows. Fireplace in Living Area. Interior Laundry. Finished Garage. Hilltop Views.

Video Tour: http://www.youtube.com/watch?v=HeFSW28r0gU

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We were recently informed from one of our lending partners that there is a new government program that can provide up to a 3% grant that can be used for downpayment and/or closing costs.  The grant does not have to be repaid!

The Grant made possible through the Program can be used towards the homebuyer’s down payment and/or closing costs on a 30-year fixed-rate fully amortized FHA, VA or USDA Mortgage Loan.

The Program is available for purchases of both new and existing homes and is NOT limited to first-time homebuyers.

If you have questions, The Lund Team is here to help! 

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The Lund Team

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