Mortgage Rates: Week Ended March 9
Rates were up and down this volatile week, but ended even vs. last Friday.
Recap/outlook commentary coming tomorrow.
Rates as of today’s market close below.
CONFORMING RATES ($200,000 to $417,000) 0 POINT:
30 Year: 3.875% (3.995% APR)
FHA 30 Year: 3.75 % (3.87% APR)
5/1 ARM: 2.875% (2.995% APR)
SUPER-CONFORMING RATES ($417,001 to $625,500* cap by county) 0 POINT:
30 Year: 4.0% (4.12% APR)
FHA 30 Year: 3.75% (3.87% APR)
5/1 ARM: 3.375% (3.495% APR)
JUMBO RATES ($625,501 to $2,00,000) 1 POINT:
30 Year: 4.25% (4.37% APR)
10/1 ARM: 3.625% (3.745% APR)
5/1 ARM: 2.625% (2.745% APR)
Lower or higher rates apply to specific borrower and property profiles. Better or worse rates available using tax deductible points or zero-cost transactions. These rates assume full doc pricing on Single Family Home purchase loans for borrower with 740 FICO score or greater, at least 20% equity (unless FHA), and 6-12 months reserves left over after close (retirement assets counted at 60% of value for reserves). ARM rates adjust the first month after initial fixed period shown, and once per year thereafter until year 30. Adjusted rate calculated by adding 2.25% margin to 1yr LIBOR index at time of adjustment. At first adjustment LIBOR+margin cannot exceed start rate+5%, subsequent yearly adjustments can never be greater than 2% per year, total of all adjustments for 30yr life of loan can never exceed start rate+5%. Rates based on loan amount ranges shown and rates available at the time of production. Rates aren’t a loan commitment nor a loan guarantee, and are subject to change without notice.
*Conventional Super-Conforming cap = $625,500. FHA Super-Conforming cap = $729,750.