Connecticut Financing Update and Today's Mortgage Rates 10/19/2012

The weather is starting to get cold but it's still a perfect time to purchase a home and/or refinance your existing mortgages.  Mortgage Backed Securities are up +5/32 (FNMA 30-year 3.0 at 104.12), which is about 3/32 lower than yesterday at this time. Unfavorable repricing took place yesterday. Early investors may have priced at a range of levels from +2/32 to +7/32. Weak US earnings have pushed stocks lower and lifted MBS this morning.  Great housing start numbers yesterday started a slight increase in rates.  Interest rates have increased about a 0.25 or so across the board since last week.

Today's Mortgage Rates

Conventional 30 year fixed          3.625%                 APR 3.678%

Conventional 15 year fixed          2.75%                  APR 2.838%

Conventional 5/1 ARM                3.00%                  APR 3.049%

Conventional 7/1 ARM                3.25%                  APR 3.301%

The above rates are based on a loan amount of $417,000 for a single family home, a borrower’s middle credit score of 740 and a 20% down payment.

This is not an offer for extension of credit or a commitment to lend. All loans must satisfy company underwriting guidelines. Information and pricing are subject to change at any time and without notice. This is not an offer to enter into a rate lock agreement under any applicable law.

 

As a lending professional, Nima Rezvan meets a wide range of real estate lending needs, whether it be a first time purchase, second home purchase, or refinance. He welcomes the opportunity to serve your needs with quick and accurate real estate financing advice. With his expertise and knowledge, he will make sure you understand the features associated with the loan program you choose and that it meets your unique financial situation.

With more than 10 years of mortgage lending experience, Nima specializes in  Conventional Mortgages,  Jumbo Loan Financing, Refinance, First Time Home Buyers and Federal Housing Administration/Veterans' Administration (FHA/VA)

782 Clinton Avenue

Bridgeport, CT 06604

Phone: 203.913.6016

Email: nima@primeres.com

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The Featured Home of the Week is at 125 Norton Road in Easton  for $1.4M. See the virtual tour HERE

Buying or Selling a Home in Fairfield County?  Contact us!

If you have a question about buying or selling Real Estate in  Fairfield County, and are in need of representation, I invite you to contact me. I know the market like the back of my hand, know marketing inside and out, am a skilled negotiator- and I'd love to be on your side :) - Judy

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