Rates are crazy right now!! As the bond market has hit it's highest levels ever, it has done mortgage rates a great favor! I figured this morning I would throw some rates out here just to put some emphasis on it.. These are best case scenarios and rates depend upon the situation / loan scenario..
(Non-owner / cash out refinances / manufactured homes will need specific attention)
All APR's are calculated on a $250,000 loan amount
As of 10:45am on June 24th, 2010
30 year conventional fixed rates - 4.5% - APR 4.74%
30 year FHA fixed rate - 4.375% - APR 5.35%
20 year conventional fixed rates - 4.375% - APR 4.68%
15 year conventional fixed rates 3.875% - APR 4.26%
15 year FHA fixed rate - 4% - APR 5.30%
10 year conventional fixed rates 3.75% - APR 4.31%
You may be wondering why the FHA apr's are higher than the conventional apr's... The reason being is the upfront mortgage insurance and monthly mortgage insurance required on these loans..
VA rates are going to be in the same ball park as FHA rates!
If you have any questions regarding rates or want to find out about your specific loan scenario, please feel free to get in touch with me! You can send me a PM or email me at jgabrio@alliedhomenet.com...
Have a great day!
Jon Gabrio
Direct 253 -632-2280
Office 253-466-4044
MLO - 263956
