30-year conventional: Loan $130,000-$175,000---5.25-5.625%
Loan $175,000-$230,000---5.25-5.625% (almost 0.5% lower than last week)
Loan $230,000 to max ($417,000) --- 5.125-5.375%
30-year FHA: Loan $90,000-130,000 --- 5.25-5.625% (up to 0.875% lower than last week)
Loan $130,000-170,000 -- 5.125-5.375%
Loan $170,000 to max -- 5.125-5.375% (up to 1% lower than last week)
15-year conventional: Loan $130,000-175,000 -- 5.25-5.625% (about 0.625% lower than last week)
Loan $175,000-230,000 -- 5.125-5.5%
Loan $230,000 to max -- 5.125-5.5%
40-year conventional: Loan $130,000-175,000 -- 5.625-6.00%
Loan $175,000-230,000 -- 5.625-6.00%
Loan $230,000 to max -- 5.50-5.875%
30-year conventional jumbo: $417,000-$650,000 -- 6.125-6.5% (up to 0.25% lower than last week)
15-year conventional jumbo: $417,000-650,000 -- 6.125-6.5% (almost 1% lower than last week)
5/1 Arm cap 5/2/5: $130,000-175,000 -- 4.625-5.00%
$175,000-230,000 -- 4.625-5.00% (about 0.625% lower than last week)
$230,000 to max -- 4.5-4.875%
3/1 Arm cap 2&6: 417,000-$650,000 -- 5.75-6.125% (about 0.375% lower than last week)
5/1 Jumbo Arm - cap 5/2/5: $417,000 -- 5.75-6.125%
801-649-5883
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Marina Vialtsina
Showing posts with label loan rates. Show all posts
Showing posts with label loan rates. Show all posts
Saturday, December 6, 2008
Tuesday, November 27, 2007
CONFORMING LOAN LIMITS FOR 2008
There will be no change in the conforming loan limits for 2008
$417,000 will remain the maximum loan amount for the third year in a row. Anything above this is considered a Jumbo.
$417,000 will remain the maximum loan amount for the third year in a row. Anything above this is considered a Jumbo.
Tuesday, October 23, 2007
Call to Action: Salt Lake Tribune gets it wrong
According to UAR (Utah Association of Realtors), Salt Lake Tribune gets it wrong...See what UAR thinks:
"UAR encourages members to contact Trib regarding Thursday’s story
At a time when Money Magazine and The Associated Press are reporting that Utah is bucking the national housing slump, the Salt Lake Tribune is saying “ Utah ’s housing boom now a bust.” Thursday, the Salt Lake Tribune reported on its front page that new home demand was at a 17-year low, a story that included broad generalizations about the Wasatch Front housing market. The Utah Association of REALTORS® is encouraging REALTORS® to contact the Tribune directly to tell them why they got it wrong.
What to Say to the Salt Lake Tribune
The story’s headline, which said, “ Utah ’s housing boom now a bust,” was misleading and inaccurate. The story only cited statistics regarding home-building permits; the story did not mention existing home sales or the pockets of new-home construction that are doing well. The headline led Tribune readers to believe that all segments of Utah ’s housing market are doing poorly. If such broad generalizations are going to be made in headlines, the Tribune needs to include information about each part of the housing market in the story.
The Tribune article quoted an individual who said, “ ‘People are afraid to purchase’ a home right now,” a misleading statement that could cause buyers to miss out on great appreciation opportunities. It’s a disservice to the Tribune’s readers to suggest that prospective Utah home buyers shouldn’t buy now when the National Association of REALTORS® projects Utah will see home prices increase anywhere between 7 and 10 percent in 2008. That means the buyer of a $200,000 home could miss out on $14,000 worth of appreciation by waiting to buy.
The story suggested that Utah buyers have been unable to obtain loans when in fact financing is readily available and affordable. Mortgage rates are still at historic lows, with interest rates on a 30-year fixed mortgage near 6.38 percent, much more affordable than the double-digit rates seen over the years. For buyers who would have needed subprime loans that are no longer available, safer FHA products will be able to help serve their needs.
Utah has strong market fundamentals — good job growth, population gains and low unemployment, which will keep demand for housing high.
Real estate markets are complex and the Tribune’s readers are not served by misleading generalizations that don’t tell the entire story.
Contact Salt Lake Tribune business reporter Lesley Mitchell at (801) 257-8714 or business editor Michael Limon at (801) 257-8798 to let them know you want to see more complete coverage of Utah’s housing market."
"UAR encourages members to contact Trib regarding Thursday’s story
At a time when Money Magazine and The Associated Press are reporting that Utah is bucking the national housing slump, the Salt Lake Tribune is saying “ Utah ’s housing boom now a bust.” Thursday, the Salt Lake Tribune reported on its front page that new home demand was at a 17-year low, a story that included broad generalizations about the Wasatch Front housing market. The Utah Association of REALTORS® is encouraging REALTORS® to contact the Tribune directly to tell them why they got it wrong.
What to Say to the Salt Lake Tribune
The story’s headline, which said, “ Utah ’s housing boom now a bust,” was misleading and inaccurate. The story only cited statistics regarding home-building permits; the story did not mention existing home sales or the pockets of new-home construction that are doing well. The headline led Tribune readers to believe that all segments of Utah ’s housing market are doing poorly. If such broad generalizations are going to be made in headlines, the Tribune needs to include information about each part of the housing market in the story.
The Tribune article quoted an individual who said, “ ‘People are afraid to purchase’ a home right now,” a misleading statement that could cause buyers to miss out on great appreciation opportunities. It’s a disservice to the Tribune’s readers to suggest that prospective Utah home buyers shouldn’t buy now when the National Association of REALTORS® projects Utah will see home prices increase anywhere between 7 and 10 percent in 2008. That means the buyer of a $200,000 home could miss out on $14,000 worth of appreciation by waiting to buy.
The story suggested that Utah buyers have been unable to obtain loans when in fact financing is readily available and affordable. Mortgage rates are still at historic lows, with interest rates on a 30-year fixed mortgage near 6.38 percent, much more affordable than the double-digit rates seen over the years. For buyers who would have needed subprime loans that are no longer available, safer FHA products will be able to help serve their needs.
Utah has strong market fundamentals — good job growth, population gains and low unemployment, which will keep demand for housing high.
Real estate markets are complex and the Tribune’s readers are not served by misleading generalizations that don’t tell the entire story.
Contact Salt Lake Tribune business reporter Lesley Mitchell at (801) 257-8714 or business editor Michael Limon at (801) 257-8798 to let them know you want to see more complete coverage of Utah’s housing market."
Thursday, September 6, 2007
Mortgage Bond are flat
"Mortgage Bonds are flat after yesterday's rally, but now Traders are looking ahead to tomorrow's important Jobs Report.
Current estimates are for 110,000 new jobs created; however, if the number is much worse than expected, we will probably see bonds improve. But any rally may be tempered, since many Traders may already be factoring in a miss.
If the number comes in stronger than expected--which I don't think will happen, but if it does--Bonds will drop sharply, causing home loan rates to rise.
I feel the prudent play is to be conservative and Lock ahead of the Jobs Report."
Current estimates are for 110,000 new jobs created; however, if the number is much worse than expected, we will probably see bonds improve. But any rally may be tempered, since many Traders may already be factoring in a miss.
If the number comes in stronger than expected--which I don't think will happen, but if it does--Bonds will drop sharply, causing home loan rates to rise.
I feel the prudent play is to be conservative and Lock ahead of the Jobs Report."
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