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Posts from the ‘Rate Update’ Category

17
Dec

Mortgage Rate Update (December 17)

Mortgage rates are dropping fast! Give us a call at 805.543.LOAN to see how you can take advantage of the low-rate window.

Conventional Loan Programs 

30-year fixed, 15-year fixed, 30-year high balance

Conventional Rates copy

Specialty Loan Programs

FHA, FHA 203k, USDA, VA

FHA, VA, USDA Rates copy

Manufactured Home Loan Programs

FHA Manufactured, Conventional Manufactured

Manufactured Rates copy

Jumbo Loan Program

Jumbo ($700,000 loan amount)

Jumbo Rate copy

Rates Directly to Your Inbox!

If you would like to receive a more detailed Mortgage Rate report, you can subscribe to our “CCL Rate Tracker.” The CCL Rate Tracker follows 10 loan programs and publishes three rate options closest to 1 point, par, and 1 rebate for each program every two weeks and delivers the results in an email. To sign up, please email [email protected] with the text “Rate Tracker.”

Apply Online Today!

When you register for a Loan Center account, you can submit a loan application online and the sensitive information that you provide will be transmitted securely. Your account also enables you to easily modify your loan application and view the status of your loan. Any questions? Call us at 805.543.LOAN or email us here.

About the Loan Programs:

 

NOTE:

  • Mortgage rates assume purchase of a singe-family, detached, owner-occupied, residential property.
  • Mortgage rates assume borrower credit score of 760 and a Debt-to-Income ratio of 35%. Rates for conventional loan programs assume a loan-to-value of 80%.
  • Loan amount is $417,000 for all programs (appraised value of $522,000), except for the high balance ($561,200 loan and $722,000 value), and Jumbo ($700,000 loan and $1,000,000 value)
  • Mortgage rates and APR subject to change.
11
Dec

Mortgage Rate Update (December 10)

Mortgage rates are dropping fast! Give us a call at 805.543.LOAN to see how you can take advantage of the low-rate window.

Conventional Loan Programs 

30-year fixed, 15-year fixed, 30-year high balance

Conventional Rates

Specialty Loan Programs

FHA, FHA 203k, USDA, VA

FHA, VA, USDA Rates

Manufactured Home Loan Programs

FHA Manufactured, Conventional Manufactured

Manufactured Rates

Jumbo Loan Program

Jumbo ($700,000 loan amount)

Jumbo Rate

Rates Directly to Your Inbox!

If you would like to receive a more detailed Mortgage Rate report, you can subscribe to our “CCL Rate Tracker.” The CCL Rate Tracker follows 10 loan programs and publishes three rate options closest to 1 point, par, and 1 rebate for each program every two weeks and delivers the results in an email. To sign up, please email [email protected] with the text “Rate Tracker.”

Apply Online Today!

When you register for a Loan Center account, you can submit a loan application online and the sensitive information that you provide will be transmitted securely. Your account also enables you to easily modify your loan application and view the status of your loan. Any questions? Call us at 805.543.LOAN or email us here.

About the Loan Programs:

 

NOTE:

  • Mortgage rates assume purchase of a singe-family, detached, owner-occupied, residential property.
  • Mortgage rates assume borrower credit score of 760 and a Debt-to-Income ratio of 35%. Rates for conventional loan programs assume a loan-to-value of 80%.
  • Loan amount is $417,000 for all programs (appraised value of $522,000), except for the high balance ($561,200 loan and $722,000 value), and Jumbo ($700,000 loan and $1,000,000 value)
  • Mortgage rates and APR subject to change.
3
Dec

Mortgage Rate Update (December 3)

Conventional mortgage rates have moved up by about 1/4 of a point during the week of December 1 through 5. The remaining programs in our tracker: VA, USDA, FHA, Manufactured Homes, and Jumbo are basically unchanged.

Conventional Loan Programs 

30-year fixed, 15-year fixed, 30-year high balance

Conventional Mortgage Rates

Specialty Loan Programs

FHA, FHA 203k, USDA, VA

FHA, VA, USDA Mortgage Rates

Manufactured Home Loan Programs

FHA Manufactured, Conventional Manufactured

Manufactured Loan Programs

Jumbo Loan Program

Jumbo ($700,000 loan amount)

Jumbo Mortgage Rate

Rates Directly to Your Inbox!

If you would like to receive a more detailed Mortgage Rate report, you can subscribe to our “CCL Rate Tracker.” The CCL Rate Tracker follows 10 loan programs and publishes three rate options closest to 1 point, par, and 1 rebate for each program every two weeks and delivers the results in an email. To sign up, please email [email protected] with the text “Rate Tracker.”

Apply Online Today!

When you register for a Loan Center account, you can submit a loan application online and the sensitive information that you provide will be transmitted securely. Your account also enables you to easily modify your loan application and view the status of your loan. Any questions? Call us at 805.543.LOAN or email us here.

About the Loan Programs:

 

NOTE:

  • Mortgage rates assume purchase of a singe-family, detached, owner-occupied, residential property.
  • Mortgage rates assume borrower credit score of 760 and a Debt-to-Income ratio of 35%. Rates for conventional loan programs assume a loan-to-value of 80%.
  • Loan amount is $417,000 for all programs (appraised value of $522,000), except for the high balance ($561,200 loan and $722,000 value), and Jumbo ($700,000 loan and $1,000,000 value)
  • Mortgage rates and APR subject to change.
1
Dec

Mortgage Rate Update (November 26)

[Editor's Note: This mortgage rate post was calculated on November 26th, prior to Thanksgiving. Expect our latest update on Wednesday, December 3. Rates begin this week lower.] 

Over the past several months, we have seen mortgage rates drop to 18-month lows, rise up, and then trickle slightly lower.

Yesterday the U.S. 10-year Treasury yield dipped to 2.26% after several weeks of sitting right around 2.30%. Mortgage rates have followed suit, and over the past week are about 1/8 to 3/8 of a point lower in price.

U.S. economic news has been generally positive through 2014. Employment, real estate, retail sales… everything has been steady. Stock indexes (Dow, S&P 500, etc) continue to push new record high levels and the Federal Reserve ended has ended its quantitative easing stimulus activity.

Even with the positive news, there is still a large amount of uncertainty floating around, and as we know, uncertainty and volatility are good for mortgage rates. The world’s leading economies – Japan, China, and the Eurozone – have all shown signs of slowdown (and Japan is in an outright recession). Even here at home, where the news is generally good, there is some amount of concern.

“Things are pretty solid,” said Dan Podesto, co-owner of Central Coast Lending. “But there is a lack of a driver. For the longest time it was the dot-coms, and then it was technology. There is a sense that we are waiting for the next big thing.”

Moving forward, falling gas prices should help bolster sales numbers in the holiday season.

 

Conventional Loan Programs 

30-year fixed, 15-year fixed, 30-year high balance

Conventional Mortgage Rates (November 26) copy

Specialty Loan Programs

FHA, FHA 203k, USDA, VA

FHA, VA, USDA Mortgage Rates (November 26) copy

Manufactured Home Loan Programs

FHA Manufactured, Conventional Manufactured

Manufactured Mortgage Rates (November 26) copy

Jumbo Loan Program

Jumbo ($700,000 loan amount)

Jumbo Mortgage Rates (November 26) copy

Rates Directly to Your Inbox!

If you would like to receive a more detailed Mortgage Rate report, you can subscribe to our “CCL Rate Tracker.” The CCL Rate Tracker follows 10 loan programs and publishes three rate options closest to 1 point, par, and 1 rebate for each program every two weeks and delivers the results in an email. To sign up, please email [email protected] with the text “Rate Tracker.”

Apply Online Today!

When you register for a Loan Center account, you can submit a loan application online and the sensitive information that you provide will be transmitted securely. Your account also enables you to easily modify your loan application and view the status of your loan. Any questions? Call us at 805.543.LOAN or email us here.

About the Loan Programs:

 

NOTE:

  • Mortgage rates assume purchase of a singe-family, detached, owner-occupied, residential property.
  • Mortgage rates assume borrower credit score of 760 and a Debt-to-Income ratio of 35%. Rates for conventional loan programs assume a loan-to-value of 80%.
  • Loan amount is $417,000 for all programs (appraised value of $522,000), except for the high balance ($561,200 loan and $722,000 value), and Jumbo ($700,000 loan and $1,000,000 value)
  • Mortgage rates and APR subject to change.
19
Nov

Mortgage Rate Update (November 19)

Conventional Loan Programs 

30-year fixed, 15-year fixed, 30-year high balance

Conventional Mortgage Rates copy

Specialty Loan Programs

FHA, FHA 203k, USDA, VA

FHA, VA, USDA Mortgage Rates copy

Manufactured Home Loan Programs

FHA Manufactured, Conventional Manufactured

Manufactured Mortgage Rates copy

Jumbo Loan Program

Jumbo ($700,000 loan amount)

Jumbo Mortgage Rates copy

Rates Directly to Your Inbox!

If you would like to receive a more detailed Mortgage Rate report, you can subscribe to our “CCL Rate Tracker.” The CCL Rate Tracker follows 10 loan programs and publishes three rate options closest to 1 point, par, and 1 rebate for each program every two weeks and delivers the results in an email. To sign up, please email [email protected] with the text “Rate Tracker.”

Apply Online Today!

When you register for a Loan Center account, you can submit a loan application online and the sensitive information that you provide will be transmitted securely. Your account also enables you to easily modify your loan application and view the status of your loan. Any questions? Call us at 805.543.LOAN or email us here.

About the Loan Programs:

 

NOTE:

  • Mortgage rates assume purchase of a singe-family, detached, owner-occupied, residential property.
  • Mortgage rates assume borrower credit score of 760 and a Debt-to-Income ratio of 35%. Rates for conventional loan programs assume a loan-to-value of 80%.
  • Loan amount is $417,000 for all programs (appraised value of $522,000), except for the high balance ($561,200 loan and $722,000 value), and Jumbo ($700,000 loan and $1,000,000 value)
  • Mortgage rates and APR subject to change.
12
Nov

Mortgage Rate Update (November 12)

Conventional Loan Programs 

30-year fixed, 15-year fixed, 30-year high balance

Conventional Mortgage Rates (November 2014)

Specialty Loan Programs

FHA, FHA 203k, USDA, VA

USDA, FHA, VA Mortgage Rates (November 2014)

Manufactured Home Loan Programs

FHA Manufactured, Conventional Manufactured

Manufactured Mortgage Rates (November 2014)

Jumbo Loan Program

Jumbo ($700,000 loan amount)

Jumbo Mortgage Rates (November 2014)

Rates Directly to Your Inbox!

If you would like to receive a more detailed Mortgage Rate report, you can subscribe to our “CCL Rate Tracker.” The CCL Rate Tracker follows 10 loan programs and publishes three rate options closest to 1 point, par, and 1 rebate for each program every two weeks and delivers the results in an email. To sign up, please email [email protected] with the text “Rate Tracker.”

Apply Online Today!

When you register for a Loan Center account, you can submit a loan application online and the sensitive information that you provide will be transmitted securely. Your account also enables you to easily modify your loan application and view the status of your loan. Any questions? Call us at 805.543.LOAN or email us here.

About the Loan Programs:

 

NOTE:

  • Mortgage rates assume purchase of a singe-family, detached, owner-occupied, residential property.
  • Mortgage rates assume borrower credit score of 760 and a Debt-to-Income ratio of 35%. Rates for conventional loan programs assume a loan-to-value of 80%.
  • Loan amount is $417,000 for all programs (appraised value of $522,000), except for the high balance ($561,200 loan and $722,000 value), and Jumbo ($700,000 loan and $1,000,000 value)
  • Mortgage rates and APR subject to change.
5
Nov

Mortgage Rate Update (November 5)

 

Conventional Loan Programs 

30-year fixed, 15-year fixed, 30-year high balance

October 2014 Conventional Mortgage Rates

Specialty Loan Programs

FHA, FHA 203k, USDA, VA

October 2014 FHA, USDA, VA Mortgage Rates

Manufactured Home Loan Programs

FHA Manufactured, Conventional Manufactured

October 2014 Manufactured Mortgage Rates

Jumbo Loan Program

Jumbo ($700,000 loan amount)

October 2014 Jumbo Mortgage Rate

Rates Directly to Your Inbox!

If you would like to receive a more detailed Mortgage Rate report, you can subscribe to our “CCL Rate Tracker.” The CCL Rate Tracker follows 10 loan programs and publishes three rate options closest to 1 point, par, and 1 rebate for each program every two weeks and delivers the results in an email. To sign up, please email [email protected] with the text “Rate Tracker.”

Apply Online Today!

When you register for a Loan Center account, you can submit a loan application online and the sensitive information that you provide will be transmitted securely. Your account also enables you to easily modify your loan application and view the status of your loan. Any questions? Call us at 805.543.LOAN or email us here.

About the Loan Programs:

 

NOTE:

  • Mortgage rates assume purchase of a singe-family, detached, owner-occupied, residential property.
  • Mortgage rates assume borrower credit score of 760 and a Debt-to-Income ratio of 35%. Rates for conventional loan programs assume a loan-to-value of 80%.
  • Loan amount is $417,000 for all programs (appraised value of $522,000), except for the high balance ($561,200 loan and $722,000 value), and Jumbo ($700,000 loan and $1,000,000 value)
  • Mortgage rates and APR subject to change.
29
Oct

Mortgage Rate Update (October 29)

Mortgage rates have moved up slightly for the second straight week. Rates have almost completely erased the unexpected price improvements from two weeks ago, but are still near 18-month lows. Learn more about the drop and subsequent increases here.

This low rate environment offers a window for existing owners to refinance and drop their monthly payment / eliminate mortgage insurance, and for potential buyers to increase their purchasing power and afford more home.

Give us a call at 805.543.LOAN with any questions.

Read more »

22
Oct

Mortgage Rate Update (October 22)

Mortgage rates have moved up slightly, but maintain the one 1+ point price improvements over the past month. This low rate environment offers a window for existing owners to refinance and drop their monthly payment / eliminate mortgage insurance, and for potential buyers to increase their purchasing power and afford more home.

Click here to learn why mortgage rates have dropped to such a notable extent.

Give us a call at 805.543.LOAN with any questions.

Read more »

15
Oct

Mortgage Rate Update (October 15)

Mortgage rates continue to plummet. Over the past three weeks, check out these massive price improvements:

  • Jumbo: -7/8 of a point
  • 30-year Fixed (Conforming and High Balance): -1 and 1/2 points
  • 15-year Fixed: -1 and 1/8 points
  • Manufactured (Conventional and FHA): -2 and 1/2 points
  • USDA, FHA, FHA 203k, VA: -2 and 3/4 points

As an example, the cost for a 4.000% 30-year fixed rate was 1.750 percent (1 and 3/4 points) on September 24. Today, that cost is just 0.250 percent (1/4 of a point). Lower rate costs help borrowers obtain lower mortgage rates for a lower cost, thus making home financing more affordable. Now is a great time to lock in a rate for purchase or refinance.

Rates have dropped for the following reasons:

  1. Concern that the European economy may be slipping back into recession.
  2. Concern about the geopolitical situation (Russia/Ukraine, Syria/Isis/Middle East).
  3. Concern about China’s slowing growth.
  4. Concern about the ebola outbreak (abroad and closer to home).

As of today, markets can add:

5. Concern over a drop in United States retail sales (lower GDP?). The Dow dropped 350 points in response.

Last Wednesday, the Federal Reserve released the minutes from their September meeting. Members displayed enough concern about the economy to lead to speculation that the Fed could hold interest rates low into 2016.

Concern, volatility, low interest rates, low inflation… these are all ingredients for low mortgage rates. When the future feels uncertain, investors look for safety, and the U.S. bond market is a prime place to find it. Demand for bonds helps put downward pressure on rates.

Give us a call at 805.543.LOAN with any questions.

Read more »