Here is a sneak peek of residential mortgage rates and some brief news to share. Yesterday's FOMC minutes were a disappointment to risk assets, as they failed to indicate a greater potential for additional quantitative easing.
The latest weekly initial jobless claims count totaled 350,000, which is better than what had been projected by economists. The latest count is also down from the upwardly revised prior week tally of 376,000. As for continuing claims, it declined to roughly 3.304 million from 3.318 million. Separately, export prices, excluding agriculture, declined by 1.4% in June after they had declined by 0.6% in the prior month. In Europe, markets are under pressure as marginal yields are seeing a modest rise and as the euro trades at a two-year low near 1.2170.
The ECB Monthly Bulletin was released early this morning, and suggested further downside risks have developed as market dislocation has begun to spill over into the real economy.
Today's Mortgage Rates
Conventional 30 year fixed 3.625% APR 3.671%
Conventional 15 year fixed 2.875% APR 2.956%
Conventional 5/1 ARM 2.625% APR 3.160%
Conventional 7/1 ARM 2.75% APR 3.133%
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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Buying or Selling a Home in Fairfield County? We'd love to represent you.
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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