October 4, 2011 by staff
Mortgage loans are still attractive as for most borrowers, although very good credit required to receive approval. Today is 30 years mortgage interest rates are 3.875% and the 15 years fixed mortgage rates are at 3.250%. 5 / 1 ARM loan rates are 2.625%. As housing prices continue to fall, borrowers who have credit in good condition are faced with the fastest time in history to make the move to homeownership. Well-qualified borrowers can get these low mortgage rates, with 0.7 to 1% origination fee provided they meet all the requirements to receive approval from the lender.
FHA mortgage loans have gained much popularity since the start of the recession, as they are known to promote ownership and accessible to the consumer. Today FHA 30 year fixed mortgage interest rates are 3.750% and FHA fixed 15 years mortgage rates are at 3.500%. 5.1 The FHA ARM loan rates are at 2.750%. In addition to low rates of FHA mortgage, FHA requires a down payment of only 3.5%, with a credit score as low as 580. Borrowers can also use the grants approved housing and gifts to be placed on mortgage costs. The only disadvantage of FHA home loans is increasing FHA closing costs (APR), which is due to several positions in the FHA mortgage insurance premium upfront.
From October on, jumbo 30 years fixed mortgage rates are at 4.500%, down 0.125%. Jumbo 15 years fixed mortgage rates are at 4.375% and 05.01 jumbo ARM rates are at 3.250%. Jumbo mortgage rates have been at their lowest level for some time has been an incentive for senior borrowers. To receive these rates lowest mortgage giant with 0.7 to 1 point of origin%, borrowers must have excellent credit. Jumbo mortgage loans are not insured by the government and therefore considered at risk.
Today Wells Fargo in California 30 years fixed mortgage rates are at 4.000% (4.180% APR).
The prices of MBS (mortgage backed securities) are up 18 / 32 (FNMA 30 year 3.5 to 103.11), which is higher than earlier pricing 11 / 32. The stock market is because it is helping MBS prices. MBS prices mortgage rates move in the opposite direction. Some positive data was released today show that manufacturing expanded in September. The index of the Institute for Supply Management rose plant was a surprise to economists who had forecast a fall. The Commerce Department reported that spending on construction projects rose in August, which was also unexpected. Investors are reacting to the pressure that has been in Greece to implement austerity measures in order to receive additional financial assistance. Several key reports will be released this week begins a new month could result in lower mortgage rates and see more cuts.
FreeRateUpdate.com more than two dozen wholesale and direct loans leaves “rate to determine the most accurate mortgage rates available to qualified consumers in a standard 0.07 to 1% point origination fee surveys.
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