I was going to blog about the articles I keep reading that we will be at 5.5% interest rates by 2019 for home loans. But, received this from one of my lenders so figured I'd share current info along with the knowledge that they are definitely going UP! And, a reminder that we have had rates below 5% for only 83 months in the last 50 years...yes in FIFTY years!
- 30-year fixed conventional loan - 4.250% (4.311 APR). Loan amounts up to $424,100.00 = $2086.32 (This rate is .125% lower with 25% or more down!)
- 15-year fixed conventional loan - 3.500% (3.606 APR). Loan amounts up to $424,100.00 = $3031.82 (This rate is .125% lower with 25% or more down!)
- 5/1 ARM - Fixed for 5 years and then becomes variable - 3.625% - (3.735 APR) Loan amounts up to $424,100.00 = $1934.11
- 7/1 ARM - Fixed for 7 years and then becomes variable - 3.750% - (3.861 APR) Loan amounts up to $424,100.00 = $1964.07
- 10/1 ARM - Fixed for 10 years and then becomes variable - 4.000% - (3.986 APR) Loan amounts up to $424,100.00 = $1994.28
- 30-year fixed FHA loan - 3.750% (4.797 APR). Loan amounts up to $424,100.00 = 1998.44 + $305.66 PMI = $2304.10
- 30-year fixed VA loan - 3.750% (3.989 APR). Loan amounts up to $424,100.00 = $1964.07
- 30-year fixed Jumbo loan - 4.375% (4.388 APR). Loan amounts up to $3,000,000.00 = $14,978.56
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