Connecticut Financing Update and Today's Mortgage Rates 1/19/2013

Very exciting news came out this week that foreclosures in 2012 were stable compared to recent years and annual home prices rose largest since 2006.  The real estate market is extremely hot and most homes are going asking price or above listing prices.  There are bidding/offering wars going on across Fairfield County with a bunch of my existing clients.  The interest rate market has been extremely volatile as well.  It’s one scary roller coaster ride with rates up two days in a row and then down two days in a row.  Rates are still very low even though they are not at historic lows that we saw in recent months.  My recommendation is to let rates float until you are about 15 days away from closing so that you get the best interest rate available to you.

Today's Mortgage Rates

Conventional 30 year fixed          3.625%                APR 3.68%

Conventional 15 year fixed          3%                      APR 3.082%

Conventional 5/1 ARM                3.375%                APR 2.831%

Conventional 7/1 ARM                3.25%                  APR 2.787%

The above rates are based on a loan amount of $417,000 for a single family home, a borrower’s middle credit score of 780 and a 20% down payment.  If you would like a customized rate quote for your own specific loan scenario then please feel free to email me at nima@primeres.com or call me directly at 203.913.6016. 

 

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)

782 Clinton Avenue

Bridgeport, CT 06604

Phone: 203.913.6016

Email: nima@primeres.com

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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

Buying or Selling a Home in Fairfield County?  Contact us!

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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