A WORD ON RATES…..

22 Oct

The best par 30 year fixed mortgage rates remain in the 4.00% to 4.25% range, for well qualified consumers. Rates below 4.00% are available but the closing costs/points structure is only advantageous to borrowers who intend to keep their mortgage for at least the next 3-5 years, otherwise paying points to float down your note rate is not worth the additional closing costs (ask your loan officer for a breakeven analysis). If you’re seeking a shorter term mortgage loan, the best par 15 year rates are in the 3.375% to 3.625% range.

Mortgage Rate Disclaimer : Loan originators will only be able to offer the lowest conventional and government (FHA/VA) mortgage rates if the terms of your loan do not trigger risk-based loan level pricing adjustments (LLPAs). If you do not fall into the “perfect borrower” category, make sure you ask your loan originator for an explanation of the characteristics that make your loan a riskier investment. (eg. credit scores under 720 and investment properties)

With exception to a few periods of increased lender competitiveness in the past two months, the best 30 year fixed mortgage rates have generally held steady in a range between 4.00% to 4.25%.

Information provided by your local Lender:

Your local Realtor:

  • Intero Real Estate Services – Discovery Bay
  • 925-634-1111  
  • Intero Real Estate Services – Brentwood
  • 925-634-1116
  • www.eastbaycommunityinfo.wordpress.com
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