This entry was posted on Saturday, November 17th, 2007 at 10:31 am and is filed under Mortgage Rates, Uncategorized. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.
Sacramento Mortgage Rates:
The 30 year fixed rate conforming loan (up to $417k) ended the week at around 6.25% at 1/2 point, according to Freddie Mac’s weekly survey.
The 3/1 and 5/1 conforming arms are once again offering a bit of a break and can be had in the low to mid 5% range with that same half point.
Jumbo 30 year fixed rates are still around 7.25%. Only the big banks with a broad retail presence are willing to stick their necks out to offer these, since investors still haven’t found their appetite.
Jumbo 3/1, 5/1, and 7/1 arms are a good bet right now with rates in the low 6% range. For those with a shorter time horizon, a jumbo 7/1 arm at 6.25% on $550k would save $366 per month, or $33,000 over five years. That’s worth looking at!
The interest-only counterparts to these loans will carry a premium on the rate anywhere from .375 to .75%
Need a quote on your specific purchase or refinance? Contact me here.
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