Connecticut Financing Update and Today's Mortgage Rates 8/24/12

Mortgage rates  have been on the rise in the past two weeks,  but still look good, and it is  still a perfect time to purchase a home and/or refinance your existing mortgages.  Entering this week, investor hopes were high that significant progress would be made to stem the European crisis but optimism is fading fast.  The latest reports are that the ECB will not finalize its bond plan until Germen courts weight in on the legality of the bailout fund.  Here is the  US, Durable Goods jumped 4.2% in July, better than the expected 2.5% increase. Currently, the 10yr yield is at 1.639% and mortgages are roughly unchanged from yesterday morning.

Today's Mortgage Rates

Conventional 30 year fixed          3.625%                  APR 3.671%

Conventional 15 year fixed          3.00%                    APR 3.081%

Conventional 5/1 ARM                  2.5%                      APR 3.036%

Conventional 7/1 ARM                  2.75%                    APR 3.065%

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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