Updates on Mortgage Rates

Posted by Matt Brooke on March 14, 2013

Our friend, Laura Joines from Sun Trust has provided us with a timely update on mortgage rates. Take a look, jumbo loans are back!

Please see attached for latest Rates Update for purchase transactions, assuming a 30 day lock and 1% origination fee . Note that rates are up about 1/8-1/4% over last week’s update. Today was a rough day for mortgage bonds based on a better than expected Jobs Report today. Hopefully rates will settle back down a bit early next week. Here are some of the highlights:

n 30 fixed conforming 3.60%

n 7 Yr ARM conforming 2.49%

n 30 fixed FHA/VA 3.25%

n 30 fixed KEY JUMBO 3.625%*

n 7 Yr ARM KEY JUMBO 2.55%*

n 30 fixed SELECT JUMBO 3.35%* WOW!!! (min income/reserve requirements must be met)

n 7 Yr ARM SELECT JUMBO 2.24%* WOW!!! (min income/reserve requirements must be met)

n DR Loan 30 Fixed JUMBO 3.625%* for 100% financing up to $650k!

n DR Loan 7 Yr ARM JUMBO 2.49%* for 100% financing up to $650k!

*with mortgage autodraft from SunTrust checking

Please let me know if I may be of assistance. I am available this weekend!

Laura Joines