Seattle Home Mortgage Rates February 8, 2010
Seattle Home Mortgage 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!! You are able to refinance up to 105%!!
HISTORICAL TIP!
At the end of the last refi boom interest rates moved .50% in two days. Right now the Federal Reserve purchase program is ending March 31, 2010. Currently the Feds represent 70% of the MBS today. If you remove the 70% from the market, who has the financial stability to step in to maintain interest rates at historical lows?
Watch for upcoming auctions and see if the market reacts positively/negatively. Do not wait if you can, secure your financial savings today!
Guidelines for each scenario click here
| Conforming Mortgage Rates
|
||||
| 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% |
4.881% |
||
|
|
|
|||
| 15 Yr Fixed |
4.250% |
4.474% |
||
|
|
|
|||
| 7/1 ARM 5/2/5 CAPS |
4.00% |
3.793% |
||
|
|
|
|||
| 5/1 ARM 5/2/5 CAPS |
3.500% |
3.539% |
||
|
|
|
|||
| 3/1 ARM 5/2/5 CAPS |
3.375% |
3.495% |
||
| 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% |
||
|
|
|
|||
| 15 Yr Fixed |
4.375% |
4.581% |
||
| Jumbo (Non-Conforming) | ||||
| 1% Loan Fee (1% of the loan amount) | ||||
| Loan amounts between $567,501 – $999,999 with the same guidelines – “Increased Loan Amounts Available“ | ||||
| Scenario Based on Purchase Price of $1,000,000 with 25% down | ||||
|
rate |
apr |
|||
| 30 Yr Fixed |
6.000% |
6.117% |
||
|
|
|
|||
| 7/1 ARM 5/2/5 CAPS |
4.990% |
4.194% |
||
|
|
|
|||
| 5/1 ARM 5/2/5 CAPS |
4.375% |
3.755% |
||
|
|
|
|||
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% |
5.385% |
||
|
|
|
|||
| 15 Yr Fixed |
4.500% |
5.244% |
||
|
|
|
|||
| 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% |
||
|
|
|
|||
| Prime Rate |
3.25% |
|||