Interest rates rallied back lower a bit this week but we are still higher than rates of a month and a half ago. There is still a lot of volatility from day to day with interest rates. After the big jump higher a month ago the rate market has had big swings higher and lower as it tries to figure out what level it will “settle in at” for the coming months. This is somewhat normal in any actively traded market after a big change.
As of 6/26/2009 based on a 200k Primary Residence Purchase (or a no cash out refinance), 720+ Credit, Full Doc Income Verification, paying one “point.” Please note, this information is intended for Real Estate Professionals.
80% 30 year Fixed = 5.25%
90% 30 Year Fixed = 5.25% (Requires PMI)
90% 15 Year Fixed = 4.875% (Requires PMI)
80% 15 Year Fixed = 4.875%
96.5% FHA 30 Year Fixed = 5.5% (Requires MI)
100% VA 30 Year Fixed = 5.5% (No PMI required)
100% USDA/Rural 30 Year Fixed = 5.75% (No PMI required)
70% 5 Yr ARM up to $850k = 4.5%
75% 30 Year Fixed up to $750k = 6.65%
203k Rehab Financing Available (Primary Residence)
Refinances up to 105% of appraised value are available
For more information contact:
Ryan Halldorson
Smart Financial Mortgage
Senior Mortgage Consultant
1715 W Northern Ave. #101
Phoenix, AZ 85021
Phone: 602.793.7204
E-Fax: 602.889.2258
ryan@hsmove.com