Interest
Rates Trend Report
By:
Kevin Hawkins, Golf Savings Bank
July 9, 2010
Local mortgage rates
for purchase loans are averaging 4.625% with no points,
no loan origination fee and 4.375% for one point and
no loan origination fee for a 30-Year Fixed Rate mortgage.
Here are mortgage interest rate ranges available on
Bainbridge at the end of the week:
30-Year Fixed Rate conforming loans:
4.375% to 4.625%, with 0 points/1% loan orig. fee
to no points/no loan orig. fee
15-Year Fixed Rate conforming loans:
3.875% to 4.125%, with 0 points/1% loan orig. fee
to no points/no loan orig. fee
5-Year ARMs:
3.50% to 3.75%, with 0 points/1% loan orig. fee to
no points/no loan orig. fee
7-Year ARMs:
3.50% to 3.875%, with 0 points/1% loan orig. fee to
no points/no loan orig. fee
Golf Savings Bank is currently
closing purchase loans -- FHA, VA and Conforming loans
-- in 30 days or less (exception are loans brokered
out), and JUMBO Fixed Rate loans we are doing with
an in-house lender in 45 days or less. USDA/Rural
housing new funding has not passed in Congress yet.
JUMBO LOAN UPDATE:
30 Year Fixed Rate Jumbo:
5.375% to 5.875%, with 1 point to no points/no loan
org. fee
15 Year Fixed Rate Jumbo loans:
5.00% to 5.625%, with 1 point to no points/no loan
org. fee
5 Year Jumbo ARMs processed and funded locally:
4.75% with no points/no loan origination fee
5 Year Jumbo ARMs brokered out:
3.50% with 1 point/no loan org. fee
Note: all rates shown are based
on an average interest rate lock period of 30 days
for conforming loans (25 days for jumbos), based on
an average of local lender published rates as of July
9, 2010, based on a 740 middle credit score, purchase
loans only with at least 20% down. Rates will vary
for refinance loans, depending on a number of factors;
assumes no loan origination fee unless otherwise noted
..............................
Homeowners
HOPENOW: http://www.hopenow.com/
Homeownership
Preservation Foundation: http://www.hpfonline.org/
How
To Avoid Foreclosure (ideas from HUD): http://www.hud.gov/foreclosure/
A
Consumer's Guide to ID Theft Awareness and Avoidance
http://www.krollfraudsolutions.com/understanding-id-theft/consumer-tips.aspx

Prudential
Northwest Real Estate
166 Winslow Way East
Bainbridge Island, WA 98110
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