Connecticut Financing Update and Today's Mortgage Rates 3/1/2013

Exciting to report the rates did not keep heading higher but actually ended up bouncing back a bit.  The reasons behind the relatively more positive week of rate movement were the following: the Italian election results out Monday morning had their biggest effect on Monday itself with subsequent days either drifting sideways or improving modestly.  The 10 year note finished the day at 1.84.  The beginning of March is here and if you ask Realtor Judy Szablak (covers most of Fairfield County) or other real estate professionals in your area, they will tell you that waiting to sell or purchase a property in Spring is not the best idea as we've had an early Spring for weeks now.  If you are looking to close in the next few weeks then I would suggest locking in a rate with your lender and if you are looking to close in 30+ days then I would probably let your rate float to see how rates fare over this long period of time.

Today's Mortgage Rates

Conventional 30 year fixed          3.75%                  APR 3.806%

Conventional 15 year fixed          3.00%                  APR 3.094%

Conventional 5/1 ARM                3.375%                 APR 3.018%

Conventional 7/1 ARM                3.250%                 APR 2.960%

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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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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