Mortgage Rates for Seattle Real Estate, November 16, 2009
Rates are posted on a weekly basis. For live updates please request to follow The Mortgage Reel on Twitter. www.twitter.themortgagereel.com
Yes the Fannie Mae and Freddie Mac “Home Affordable Refinance Program” is still available!!
Guidelines for each scenario click here
Conforming Mortgage Rates
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| Scenario Based on Purchase Price of $400,000 with 20% down | ||||
| 1% Loan Fee (1% of the loan amount) | ||||
| Loan amounts up to $417,000 | ||||
| rate | apr | |||
| 30 Yr Fixed |
4.625% |
4.755% |
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| 15 Yr Fixed |
4.250% |
4.474% |
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| 7/1 ARM 5/2/5 CAPS |
4.125% |
3.853% |
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| 5/1 ARM 5/2/5 CAPS |
3.750% |
3.629% |
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| 3/1 ARM 5/2/5 CAPS |
3.750% |
3.580% |
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| Super Conforming Scenario | ||||
| 1% Loan Fee (1% of the loan amount) | ||||
| Loan amounts between $417,001 – $567,500 with the same guidelines | ||||
| Scenario Based on Purchase Price of $600,000 with 20% down | ||||
| rate | apr | |||
| 30 Yr Fixed |
5.000% |
5.122% |
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| 15 Yr Fixed |
4.250% |
4.581% |
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| Jumbo (Non-Conforming) | ||||
| 1% Loan Fee (1% of the loan amount) | ||||
| Loan amounts between $567,501 – $999,999 with the same guidelines | ||||
| Scenario Based on Purchase Price of $1,000,000 with 25% down | ||||
| rate | apr | |||
| 30 Yr Fixed |
6.250% |
6.369% |
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| 7/1 ARM 5/2/5 CAPS |
5.125% |
4.328% |
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| 5/1 ARM 5/2/5 CAPS |
4.625% |
3.930% |
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Government – FHA
| Scenario Based on Purchase Price of $400,000 with 20% down | ||||
| 1% Loan Fee (1% of the loan amount) | ||||
| Loan amounts up to $417,000 | ||||
| rate | apr | |||
| 30 Yr Fixed |
4.750% |
5.647% |
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| 15 Yr Fixed |
4.500% |
5.244% |
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| FHA – High Balance | ||||
| 1% Loan Fee (1% of the loan amount) | ||||
| Loan amounts between $417,001 – $567,500 with the same guidelines | ||||
| Scenario Based on Purchase Price of $600,000 with 20% down | ||||
| rate | apr | |||
| 30 Yr Fixed |
4.875% |
5.512% |
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Prime Rate |
3.25% |
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For Specific Quotes, Please Contact Us.
sfujita
Wondering why interest rates have remained so steady?
Bottom line supply and demand. The Feds purchase program is slowly ending and the amount of debt purchased per month has significantly decreased. Current Treasury auctions taking place are for the months of July and August. If you look back to July and August, the volume of loans closed during that time had significantly decreased. Why? Interest rates had increased.
The Feds decreased purchasing equals the decreased volume from July and August.
In September and October, rates improved to lower levels. The volume has increased tremendously so Treasury auctions will increase and who is going to purchase the debt? The Feds purchasing will continue BUT decline and eventually end.
The result is higher interest rates.