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October 15, 2012

October 15 Mortgage Interest Rates – 30-year, 15-year fixed drop in price

by Rylan Stewart

After a handful of programs gained in price on October 11, mortgage rates largely dropped to begin the week. The 30-year fixed, 15-year fixed, FHA 203k, and conventional manufactured all dropped price, while the 30-year high balance was the sole program to gain in price. The remainder experienced no movement. 

Conforming (30 year) -

3.250 percent (3.252 percent APR)

- 0.039 percent APR

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Conforming (15 year) -

2.750 percent (2.734 percent APR)

- 0.022 percent APR

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Conforming High Balance (30 year) -

3.375 percent (3.440 percent APR)

+ 0.022 percent APR

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FHA (30 year) -

3.250 percent (4.167 percent APR)

-0.000 percent APR

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FHA 203k -

3.250 percent (4.147 percent APR)

-0.020 percent APR

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VA (30 year) -

3.250 percent (3.239 percent APR)

-0.000 percent APR

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USDA (30 year)

3.250 percent (3.821 percent APR)

-0.010 percent APR

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Manufactured FHA (30 year)

4.250 percent (5.240 percent APR)

-0.020 percent APR

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Manufactured Conventional (30 year)

3.500 percent (3.541 percent APR)

+0.030 percent APR

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Jumbo (30 year)

3.875 percent (3.949 percent APR)

-0.010 percent APR

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APR is subject to increase and terms subject to change. APRs may very depending on loan details such as points, loan amount and loan-to-value, your credit, property type and occupancy. Closed rate and APR assume a rate and term refinance of a single family detached owner-occupied primary residence, loan amount $417,000 ($561,200 for high balance), and a minimum FICO score of 760. Situations vary based on applicant.

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Central Coast Lending is a California mortgage brokerage based in San Luis Obispo County. With offices in San Luis Obispo, Morro Bay, Paso Robles, and Arroyo Grande, Central Coast Lending is the top source for Central Coast mortgage, real estate, and home loan needs. To see why using a broker offers lower rates and superior service, click HERE. For a free, hassle-free online pre-qualification click HERE or call 805.543.LOAN to talk to one of our expert loan officers.


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