mortgage rates

Posted by Leslie Bauer on Wednesday, August 27th, 2008 at 11:06pm.

Daily Commentary & Rates

Tuesday, August 26, 2008

The data from the Standard & Poor's/Case Shiller national home price index suggested the housing slump is far from over: national U.S. home prices fell a record 15.4% in the second quarter compared with last year, according to the report this morning. The loss was even larger than the record 14.2% drop posted in the first three months of 2008. Both the Case-Shiller 10-city and 20-city indexes also posted record year over year losses in the second quarter, down 17% and 15.9% respectively. Sales of newly constructed U.S. single-family homes in July were lower than economists expected - expected to remain unchanged at the 530,000 annual pace first reported for June the actual sales pace in July of 515,000 climbed from the revised June level of 503,000.

 

 

Conforming Rates

($200,000 - $417,000)

0 Points

1 Point

30 Year

6.500

6.250

15 Year

6.000

5.750

7/1 ARM

6.625

6.125

5/1

6.375

6.000

3/1 ARM

6.375

5.750

7/1 ARM INTEREST ONLY

6.625

6.375

5/1 ARM INTEREST ONLY

6.500

6.000

3/1 ARM INTEREST ONLY

6.375

5.750

 

Jumbo Rates

($417,001 - $650,000)

0 Points

1 Point

30 Year

6.625

6.375

15 Year

6.250

6.000

7/1 ARM

7.125

6.750

5/1

6.750

6.250

3/1 ARM

7.750

6.875

7/1 ARM INTEREST ONLY

7.125

6.750

5/1 ARM INTEREST ONLY

6.750

6.375

3/1 ARM INTEREST ONLY

7.750

7.125

 

Super Jumbo Rates

($650,000+)

0 Points

1 Point

30 Year

8.000

7.625

15 Year

8.000

7.125

7/1 ARM

7.625

6.875

5/1

8.125

7.250

3/1 ARM

7.500

6.750

7/1 ARM INTEREST ONLY

7.875

7.125

5/1 ARM INTEREST ONLY

8.250

7.500

3/1 ARM INTEREST ONLY

7.750

6.875




Fannie Mae (Stimulus) Jumbo Pricing

(<$729,750)

0 Point

1 Point

30 Yr fixed

6.750

6.625

15 Yr Fixed

6.250

6.125

5 Yr ARM

6.750

6.625

 

 

 

 

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