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  • Mortgage market news

    I thought some of you Real Estate Agents would be interested in recent interest rate news courtesy of Mortgage News Daily found here
    To summarize, rates have been trending upwards and an expectation that they will tumble back down to levels previously seen may be unsupported. There are still many awesome options, whether it be 100% LTV purchase loans with USDA or refinance loans allowing LTV’s above 100% there are still many attractive options.

    “Today's Best-Execution Rates
    • 30YR FIXED - 3.75%
    • FHA/VA - 3.375-3.5% (varies more between lenders than conventional 30yr Fixed)
    • 15 YEAR FIXED - 3.00%
    • 5 YEAR ARMS - 2.625-3.25% depending on the lender
    Ongoing Lock/Float Considerations
    • Rates have risen moderately but consistently since hitting their all-time lows in September and October 2012.
    • Regardless of global or domestic economic weakness, the subsiding fear of a disorderly EU breakup will continue to prevent rates from getting back to those lows.
    • This is very likely to be the case unless a similarly panic-inducing event were to come into focus, or if a disorderly break-up regained the spotlight.
    • Sequestration, negative growth, and generally choppy political and economic environments around the world DO NOT constitute that sort of panic.
    • This is a "rising rate environment" until further notice, though pockets of recovery and consolidation can provide smaller-scale opportunities against the larger-scale backdrop.
    • (As always, please keep in mind that our talk of Best-Execution always pertains to a completely ideal scenario. There can be all sorts of reasons that your quoted rate would not be the same as our average rates, and in those cases, assuming you're following along on a day to day basis, simply use the Best-Ex levels we quote as a baseline to track potential movement in your quoted rate).”
    Jesse Gonzalez, Broker/REALTOR®
    Archer Realty
    DRE License#01855372
    NMLS MLO#278103
    707-583-3666
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Jesse Gonzalez Real Estate and Mortgage Broker in Sonoma County, California. I have over 10 years of real estate experience and enjoy every minute of it. Certified Military Housing Specialist. Find out more about Jesse Gonzalez

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