Rates are up sharply compared to last Friday due to the fiscal cliff bailout the country received in the 11th hour when Democrats and Republicans made a decision. It’s very difficult to see where rates are going to be this time next week as the market is very volatile. MBS are down -1/32 (FNMA 30-yr 3.0 at 103.30), around 24/32 lower than yesterday at this time. Unfavorable re-pricing took place yesterday. Early investors may have priced at much lower levels. It has been an extremely volatile morning following the release of the Employment report. Please keep a close eye on the market this coming couple of weeks in order to see if an upward trend is going to continue or will this 0.25 jump in rates will bounce back to numbers we have been seeing in the past few months.
Today's Mortgage Rates
Conventional 30 year fixed 3.75% APR 3.86%
Conventional 15 year fixed 3.00% APR 3.094%
Conventional 5/1 ARM 3.75% APR 3.196%
Conventional 7/1 ARM 3.5% APR 3.107%
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)
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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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