This info is from Narbik Karamian, loan agent at BeneGroup, Inc.:

Today the market opened in negative territory primarily due to a drop in Housing Starts report (read more at http://money.cnn.com/2011/05/17/real_estate/housing_starts/index.htm?iid=HP_River ) and HP’s forecast on its earnings.

Interest rates this morning opened lower than yesterday at their lowest rate in 6 months.

· 30 year fix conforming limit loans (up to $417,000) hit 4.375%

· 30 year fix high balance conforming loans (between $417,000 and $729,750) hit 4.5%

· 30 year fix super Jumbo loans (up to $2 million) hit 4.875%

There are now very attractive shorter term financing programs also available on 5, 7, & 10 year ARM’s (Adjustable Rate Mortgages) starting in the mid 3%.

Please feel free to call Narbik with any questions at (408) 315-2834
www.narbik.com

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