Mortgage Rate Update: July 8, 2010

Mortgage rates continue their trend this week. We’ve reached new low points with Jumbo’s leading the way to their lowest rates ever. I call your attention to the Jumbo Fixed Rates to $1.0 Million and $1.5 Million. And, we have other jumbo programs available up to $4M.

Mortgage Interest Rates for Fixed and Variable Rate Mortgages*

Rates as of Thursday, 8th July, 2010:

Term    Conforming    APR    Payment per
$1,000    Jumbo    APR    Payment per
$1,000    Arm Reset Term
3-Yr Fixed ARM to $417,000 / $1.5M    360    3.250%    3.307%    $4.35    3.500%    3.580%    $4.49    36
5 Year ARM to $417,000 / $729,750    360    3.250%    3.432%    $4.35    4.000%    4.082%    $4.77    60
15-Yr Fixed to $417,000/$729,750    180    3.750%    4.231%    $7.27    4.250%    4.398%    $7.52    -
30 Year Fixed Rate to $417,000/729,750    360    4.375%    4.561%    $4.99    4.625%    4.836%    $5.14    -
5 Yr Fixed ARM to $1M / $2.0M    360    4.250%    4.310%    $4.92    4.500%    4.585%    $5.07    60
15 Year Jumbo Fixed to $1M / $1.5/M    180    4.750%    5.188%    $7.78    5.000%    5.465%    $7.91    -
30 Year Jumbo Fixed to $1M / $1.5/M    360    5.250%    %    $5.52    5.500%    %    $5.68    -

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