Connecticut Financing Update and Today's Mortgage Rates 9/8/12

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 and mortgages rally this morning after the jobs numbers disappoint creating demand for safer assets.   Total non farm payrolls increased by 96,000, considerably lower than the 130,000 economists had expected. The Labor Department also revised down job growth for the past two months by 41,000. In July, it revised job growth down to 141,000.  The unemployment rate declined to 8.1% in August from 8.3% in the previous month, but the drop was due to a smaller labor force. The lackluster jobs report could force the Fed to react in their next meeting and implement QE3.  The Fed meets next Wednesday and releases their statement on Thursday.  Currently the 10yr yield is at 1.616% and mortgages are roughly 0.375 better in price from yesterday morning. 
 
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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The Featured Home of the Week is at 125 Norton Road in Easton  for $1.4M. See the virtual tour HERE

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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

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