Interest Rate Update 01-08-10

By
Real Estate Agent with John Aaroe Group BRE #01708344

Interest rates dropped once again this week, so that is terrific news. The main reason was the unfortunate unemployment numbers.

The Labor Department reported today that there were 20,000 jobs lost in January, which was worse than expectations.

These rates are typical for the PURCHASE borrower with excellent credit and a sizable down payment, exclusive of FHA for the down payment. Take a look at FHA 5/1 ARM rates below, as those rates are at 3.5% for all loans up to $729,750-this is amazing! This can be a very attractive alternative for FHA buyers.

 

Conventional Loans:

30 Year Fixed Conforming---$417,000 and Below: 4.75% with 1 Point

30 Year Fixed High Balance Conforming---$417,001 to $729,750: 4.875% with 1 Point

30 Year Fixed Jumbo---$729,751 to $1,000,000: 5.75% with 1 Point

5/1 ARM Jumbo---5.0% with 1 Point-amazing for Jumbo product

 

FHA Loans:

FHA 30 Year Fixed---$417,000 and Below: 4.875% with 1 Point

FHA 5/1 ARM---$417,000 and Below: 3.5% with 1 Point

FHA 30 Year Fixed High Balance---$417,001 to $729,750: 5.0% with 1 Point

FHA 5/1 ARM High Balance---$417,001 to $729,750: 3.5% with 1 Point

close

This entry hasn't been re-blogged:

Re-Blogged By Re-Blogged At
Topic:
ActiveRain Community
Location:
California Los Angeles County
Groups:
Club Chaos
EXPRESS WITH WORDS AT ACTIVERAIN
LA Connection
The Lounge at Active Rain
"Whacked"!!!
Tags:
ralph gorgoglione
los angeles real estate
mortage loans
interest rates

Spam prevention

Accessibility option: listen to a question and answer it!

To submit the form,
drag the key to the circle on the side.

Type below the answer to what you hear. Numbers or words, lowercase:

Show All Comments
Rainmaker
353,982
Dale Terry
Yadkinville, NC

Low rates for sure, but I am amazed that the limits remain so high since the markets have come down.  730k for a first time buyer is ridiculous.

Feb 08, 2010 10:40 AM #1
Ambassador
925,122
Ralph Gorgoglione
John Aaroe Group - Los Angeles, CA
California Real Estate (800) 591-6121

Dale,

Not in Los Angeles with our price points.

Fairly often, it's par for the course.

Feb 08, 2010 10:48 AM #2
Rainmaker
573,927
Terry & Bonnie Westbrook
Westbrook Realty Broker-Owner - Grand Rapids, MI
Westbrook Realty - Grand Rapids Forest Hills MI Re

I might take a bit higher rate in favor of lower unemployment.

Feb 08, 2010 09:17 PM #3
Show All Comments
Ambassador
925,122

Ralph Gorgoglione

California Real Estate (800) 591-6121
Ask me a question
*
*
*
Spam prevention

Accessibility option: listen to a question and answer it!

To submit the form,
drag the cloud to the circle on the side.

Type below the answer to what you hear. Numbers or words, lowercase: