Mortgage Interest Rates Up This Week

Mortgage Interest Rates Up This Week

Mortgage rates jumped to the highest level this year.  The highest they have been since December 2008.  

The Federal Reserve’s plan to keep rates low may not be working as well.   The fear is that rising rates may stop some shoppers from buying homes.   Home sales had been rising nationwide as a result of low interest rates and low home prices.  Activity has slowed this week.  Rates are still very low on a historical curve.

WEEKEND RATES - PLAN ON AROUND:

5.250% (APR 5.537) FOR A 30 YR FIXED CONVENTIONAL LOAN with 1.375 points, NO ORIGINATION!

5.375% (APR 5.642) FOR A 30 YR FHA / VA LOAN, WITH 1.25 POINTS, NO ORIGINATION!

5.875% (APR 6.103) ON A 30 YR JUMBO LOAN OVER $417,000 with .875 POINTS, NO ORIGINATION!

5.125% (APR 5.365) ON A 5 YR JUMBO ARM with 1.125 POINTS, NO ORIGINATION!

6.250% (APR 6.543) ON A 30 YR INVESTOR LOAN UNDER $417,000 WITH 20% DOWN with 1.25 POINTS, NO ORIGINATION (720 mid score)!

5.750% (APR 6.023) ON A 30 YR INVESTOR LOAN UNDER $417,000 WITH 25% DOWN with 1.125 POINTS, NO ORIGINATION (720 mid score)!

NO ORIGINATION FEE ON ANY OF THE LOANS ABOVE.   These rates are for purchases only.  Refinance rates are slightly higher.

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What does FHA have for you?

If you are interested in relocating to Las Vegas or would like information on Las Vegas real estate, please email me, Bob Ratliff with RE/MAX CENTRAL LAS VEGAS, at rratliff@remax.net, or call me at 702-807-5528. I look forward to hearing from you!

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