The rates are looking good and it looks like a perfect time to purchase a home and/or refinance your existing mortgages. Markets are relatively quiet as all eyes will be on the Fed today. Expectations vary broadly but most expect Mr. Bernanke to wait until September to announce potential QE3 plans. However, extending the horizon of low rates out to late 2015 seems to be a popular option that may be implemented.
In any case, investors will be scrutinizing every word change to glean hints of future policy changes. In other economic news, the ADP employment report showed employment in the private sector increased by 163,000 on a seasonally adjusted basis in July. Economists had expected 120,000. And the ISM index showed that U.S. factory activity rose to 49.8 from 49.7 in June. Economists had expected a level of 50.2 (a reading below 50 indicates contraction).
Today's Mortgage Rates
Conventional 30 year fixed 3.5% APR 3.546%
Conventional 15 year fixed 2.875% APR 2.956%
Conventional 5/1 ARM 2.5% APR 3.117%
Conventional 7/1 ARM 2.625% APR 3.076%
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