Hello and Happy Friday!
A couple of inflation reports came in this week a little better than expected but not enough to cause the markets to expect the Federal Reserve to pause it’s march on higher rates. It is widely expected that the Fed will have one more .25% rate increase at the next meeting in May. With this news, we are seeing rates that are flat compared to last week. Here is what I’m seeing:
30 Year Fixed FHA
5.625 (6.70% APR)
Discount points to bank of $864
$500,000 Purchase Price
$490,943 Loan Amount
3.5% Down Payment $17,500
720+ credit scores, single family primary home purchase, 45 day lock period
30 Year Fixed VA
5.75% (6.018% APR)
Discount points to bank $818
$500,000 Purchase Price
$511,500 Loan Amount with financed VA funding fee
First time VA use
Zero down payment, 720+ credit scores, single family primary home purchase, 45 day lock period
30 Year Fixed Conventional
6.375% (6.535% APR)
Discount points to bank $156
$500,000 Purchase Price
$475,000 Loan Amount
5% Down Payment $25,000
780+ credit score, single family primary home purchase, 45 day lock
Interest rates are not locked and are subject to change due to market changes.
Regulated by the Department of Real Estate.