September 30, 2011

My 6 year old informed me he has a six pack. I did not need to go far to know where he heard that - his father, and or one of his adult TV shows. Not that it’s a bad word....just very adult sounding! It was rather funny too. But I still had to lecture my husband on TV etiquette for a 6 year old.

So why did rates rise this week? Market correction is the word on the street. This often happens when prices rise or fall rapidly as a result of the emotional roller coaster of investors from last weeks news. With little market news this week, there was time to focus on, well, nothing. And rates went up a bit. Also, some positive news in Europe made investor worry ease a bit. This also pushed rates up as investors once again sought the stock market.

But assure your buyers that it is still a great time to be buying a home!

That's all for this week - Enjoy the weekend!!!!!!!!!!!!!!!!!!!


RATES as of September 30, 2011 (UNCHANGED for the week)

The following assumptions apply:
• 20% Down Payment (Conforming) / 25% Down Payment Jumbo (Lower down payments available – call for details)
• 1% Origination Fee
• Escrows Required (if no escrow, higher fees may apply)
• Purchase Transactions, Primary Residence (Refinances have different rates)
• 30 day closing
• Credit Score 740 +
• Debt to income ratio <=40%
• Full Documentation of Income/Assets

Conforming ($200,000* - $417,000) Jumbo ($417,001- $1,000,000*)
10 year (fixed) 3.250% APR 3.593% 15 year ( fixed ) 3.875% APR 4.084%
15 year (fixed) 3.250% APR 3.487% 30 year ( fixed ) 4.375% APR 4.496%
30 year (fixed) 3.750% APR 3.884%
7/1 ARM 3.250% APR 3.305% 5/1 ARM 3.000% APR 3.347%
7/1 ARM 3.375% APR 3.481%
10/1 ARM 3.875% APR 3.698%

FHA/VA call for quote (max loan $270,000) 5/5 ARM 3.625% APR 3.223%


We do originate loans below $200,000. These amounts are chosen to show the most favorable rates.
For other product options or for loan amounts less than $200,000 or above $900,000 please call for quote.
Call for details!


If you know of someone who would appreciate my services, please contact me with their name and number and I will be happy to help them!

Jennifer Hernandez & Team
Kenny, Brianna, Jason
Patriot Bank Mortgage

Office: 713-337-8401
E-mail: jhernandez@patriotbankusa.com
Website: www.applywithpatriot.com

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Information provided in this e-mail is intended as a tool for Real Estate Agents to be informed of the approximate rates available for home mortgages. It is intended for their sole use and purpose only and is not for distribution to the general public. Depending on the borrower's actual circumstances, such as credit, debt ratios, etc., rates may vary. Special niche products may also be available.