The last 2 days I have packed school lunches,
served breakfast, washed clothes, and picked up after myself. For those of you
that know me well, you know that my life is run by my nanny (whom I need more
than my kids do!). She is on a short vacation, so I have had to do the domestic
chores. Quite happily I might add! Also, I have a grateful heart for all she
does, as well as feeling of being blessed that I can afford such a luxury.
For those of you that observe Easter or Passover,
Happy Holidays! May you enjoy the blessings HE has provided you, and continue
to do so.
In business………It was a relatively quiet week. Mixed
US economic data had little impact. Events in Europe were the main influence on
mortgage rates. Investors grew more concerned that uncertainty in Europe could
slow the pace of global economic growth. As a result, mortgage rates ended the week a little lower.
What is all this buzz about Cypress? The bank problems in Cyprus raised broad questions
about the relationship between the troubled countries and the stronger
countries in the European Union (EU). Early in the week, Cyprus reached an
agreement to receive an EU bailout package for its banks. The terms of the aid
highlighted the growing reluctance of Germany and the other healthier countries
to use taxpayer funds to provide aid to the weaker countries. Investors are
concerned that this may slow the implementation of unpopular reform measures
intended to boost economic growth in the troubled countries. Adding to the
uncertainty, Italian leaders have made little progress in forming a coalition
government, making it very difficult for the third largest country in the EU to
do anything to improve its economic situation.
So why is political and economic uncertainty in
Europe positive for US mortgage rates? Since US companies conduct business in Europe and export to Europe,
slower growth there will be a drag on the US economy as well. This results in
reduced expectations for future inflation, which is good for mortgage rates. In
addition, the duration of the Fed's MBS and Treasury purchase program depends
on the strength of the US economy and the labor market. Weaker growth and lower
inflation could justify Fed purchases for a longer period of time, providing an
extra benefit for mortgage rates.
Enjoy your weekend!!!!!
RATES
as of March 29th, 2013 (Down 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) 2.500%
APR 3.039 %
|
15
year ( fixed )
3.125% APR 3.159%
|
|
15
year (fixed) 2.750%
APR 2.827%
|
30
year ( fixed ) 4.000%
APR 4.019%
|
|
30
year (fixed) 3.625%
APR 3.669%
7/1
ARM
2.625% APR 5.216%
|
5/1
ARM
2.500%
APR 5.610%
7/1
ARM
2.875%
APR 5.422%
|
|
5/1
ARM
2.500%
APR 5.636%
|
10/1
ARM
3.250%
APR 5.104%
|
|
|
|
|
FHA/VA
call for quote (max loan $270,000)
|
|
|
|
|
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, Sandra,
Nancy, Jimmy, Heath, Norma, Jason, Stella & Monique
No comments:
Post a Comment