With a light slate of economic
reports this week, the conflict in Ukraine had the greatest effect on mortgage rates. Shifting sentiment about the likelihood of escalation caused some
market volatility during an otherwise quiet week. Mortgage rates ended the week
a little lower.
Big Changes Coming August 16th
for Conforming Buyers (up to $625,500 loan amounts). With 20% down payments, it used to be a 2 year waiting
period to purchase again after a short sale however effective August 16th this
is increasing to 4 years after a short sale.
THIS WEEK'S RATE TREND IS LOWER
Loan Amounts under
$417K, Shown as Note Rate / (APR)
Conforming 30 year
fixed: 4.125% / (APR 4.210)
FHA 30 Year Fixed:
3.750% / (APR 5.265)
Conforming 5/1 ARM:
2.875% / (APR 3.044)
Conforming 7/1 ARM:
3.250% / (APR 3.259)
Loan Amounts over
$417K up to County Limits, Shown as Note Rate / (APR)
High Balance Conf. 30
Year Fixed: 4.250% / (APR 4.323%)
FHA High Balance 30
Year Fixed: 3.875% / (APR 5.492)
High Balance 5/1 ARM:
3.375% / (APR 3.089)
Loan Amounts Exceeding
County Limits, Shown as Note Rate / (APR)
Jumbo 30 Year Fixed:
4.000% / (APR 4.110%)
Jumbo 5/1 ARM: 2.875% / (APR 3.044%)
Jumbo 7/1 ARM: 3.3750% / (APR 3.189)
Jumbo 10/1 ARM: 3.625% / (APR 3.459)
Loan Limit Snapshot
Conforming
All Counties: $417,000
High Balance Conforming
Santa Barbara:
$625,500
Ventura: $598,000
San Diego: $546,250
LA/Orange: $625,500
High Balance FHA
Santa Barbara:
$625,500
Ventura: $598,000
San Diego: $546,250
LA/Orange: $625,500
Kelly Marsh
Aug. 8, 2014
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