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October 9, 2012

October 9 Rate Update – Little movement, same lows

by Rylan Stewart
Morro Bay (Harbor 1.10)

The only rates that moved since our last post on October 4 were the FHA program mortgage rates – including the 30-year fixed, the 203k, and the manufactured 30-year. These rates fell about 1/8 of a point. We will have our next rate update on Thursday, October 11. Make sure to check back in then! In the meantime, take advantage of these record low rates while you can – give us a call at 805.543.5626 for an free, honesty, confidential discussion about your finances.

Conforming (30 year) -

3.250 percent (3.239 APR)

- 0.000 percent APR

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Conforming (15 year) -

2.750 percent (2.734 percent APR)

- 0.000 percent APR

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Conforming High Balance (30 year) -

3.375 percent (3.364 percent APR)

- 0.000 percent APR

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FHA (30 year) -

3.250 percent (4.167 percent APR)

-0.023 percent APR

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FHA 203k -

3.250 percent (4.337 percent APR)

-0.010 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 (3.831 percent APR)

-0.000 percent APR

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Manufactured FHA (30 year)

4.250 percent (5.196 percent APR)

-0.020 percent APR

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Manufactured Conventional (30 year)

3.500 percent (3.511 percent APR)

-0.020 percent APR

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Jumbo (30 year)

3.875 percent (3.959 percent APR)

+0.013 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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