Looks like a perfect time to purchase a home and/or refinance your existing mortgages. Treasuries and mortgages are under selling pressure this morning after the unemployment rate drops to its lowest level in almost 4 years. The drop from 8.1% to 7.8% is being attributed to more people finding part time work. The nonfarm payrolls came in at 114,000 jobs added last month, in line with market expectations. More notably, last month's payrolls were revised significantly higher to 142,000 versus the 96,000 originally reported. In addition, July’s figures were increased up to 181,000 from 141,000. Currently, the 10 year yield is at 1.727% and mortgages are roughly a 0.25 worse in price from yesterday afternoon’s re-price.
Today's Mortgage Rates
Conventional 30 year fixed 3.375% APR 3.42%
Conventional 15 year fixed 2.75% APR 2.831%
Conventional 5/1 ARM 2.5% APR 3.036%
Conventional 7/1 ARM 2.625% APR 3.009%
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)
NMLS #110681
send Nima an email
Mobile: 203-913-6016
Fax: 877-804-5752
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The Featured Home of the Week is a three bedroom, three bath home on 1.24 acres on 4 Highwood lane in Westport for just $700,000. 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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