Connecticut Financing Update and Today's Mortgage Rates 8/17/12

The rates are still looking good even though they have been on the rise in the past two weeks and it looks like a perfect time to purchase a home and/or refinance your existing mortgages.  Treasuries are headed for a fourth straight weekly decline, the longest streak since December 2010, as reports this week on building permits, industrial production, retail sales and jobs all showed improvement.  And now this morning the Consumer Sentiment came in better than expected with an index reading of 73.6, rising from last month’s 72.3.  Yesterday, treasuries sold off after German Chancellor Angela Merkel was quoted supporting the ECB and their approach to defend the Euro by helping reduce borrowing costs for indebted countries.  Yesterday the 10 year yield hit the 200 day moving average of 1.86% and has since moved back down.  Currently, the 10 year yield is at 1.82% and mortgages are slightly better than yesterday afternoon’s re-price.

Today's Mortgage Rates

Conventional 30 year fixed          3.875%                  APR 3.922%

Conventional 15 year fixed          3.125%                  APR 3.207%

Conventional 5/1 ARM                  2.625%                  APR 3.078%

Conventional 7/1 ARM                  2.875%                  APR 3.122%

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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