Connecticut Financing Update and Today's Mortgage Rates 3/8/2013

Unbelievable day in the financial markets as reports came out this morning that the unemployment rate has decreased to 7.7% as better than expected job gains were reported.  The interest rates rose sharply early in the day and actually bounced back a bit by the end of the session.  The 10 year note finished the day at 2.06.  Read some articles this week that the Spring market is here and there is a dash to buy homes as rates start to creep up.  I also read on multiple social media platforms that we're low on inventory so we are suddenly in a sellers market which we haven't seen or heard of in a really long time.  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. *Note: My office currently has a $555 off coupon on your closing costs if you're looking to refinance or purchase a new home.  Contact me for more details.
 

Today's Mortgage Rates

Conventional 30 year fixed          3.875%                  APR 3.969%

Conventional 15 year fixed          3.125%                  APR 3.235%

Conventional 5/1 ARM                3.250%                 APR 3.139%

Conventional 7/1 ARM                3.300%                 APR 3.241%

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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