Note: The bond market is closed tomorrow so I'm providing rates today. Rates will return to Friday on April 17, 2009.
It's also important to note that King County's recorders office is also closed tomorrow (no recordings/closings will be taking place).
Conforming Mortgage Rates (loan amounts up to $417,000 for 1-unit properties). The conforming rate quote below is based on owner occupied, "full doc" purchase with a sales price of $500,000 and a loan amount of $400,000. Rates are priced based on a low-mid credit score 740 or higher unless otherwise noted. This scenario includes reserves (taxes & insurance) not being waived. Rates quoted are priced based on a 45 day lock with no prepayment penalties. For your personal rate quote with or without points, please contact me. Refi's are requiring a 60 day lock and therefore, a rate-term refi is approx. 0.125% higher in rate…cash out refi's are a whole other story with Fannie/Freddie price hits.
30 Year Fixed Priced w/1 Pt: 4.625% (APR 4.762%) ~ priced with 0 points: 5.000% (APR 5.057%).
15 Year Fixed Priced w/1 Pt: 4.375% (APR 4.612%) ~ priced with 0 points: 4.625% (APR 4.713%).
5/1 ARM LIBOR 5/2/5 CAPS w/1 Pt: 4.000% (APR 6.540%)
Conforming High Balance. Pricing is based on the same criteria above (including zero points) except where the loan amount is $417,001 – $506,000 for properties in King, Snohomish or Pierce Counties; specifically priced for a sales price of $625,000 and a $506,000 loan amount. NOTE: loan limits for certain "high cost" areas have been returned to the 2008 higher limits. However, Fannie Mae and Freddie Mac have not yet implemented this. Fannie Mae has announced they will begin to purchase the revised 2009 loan limits on May 1, 2009–lenders SHOULD start allowoing the higher limits soon.
30 Year Fixed @ 1 Pt: 4.875% (APR 5.008%)
FHA. Pricing based on credit score of 620 or better and loan amount of $417,000 for FHA in King, Snohomish and Pierce Counties.
30 Year Fixed @ 1 Pt: 4.875% (APR 5.698%).
FHA-High Balance. Pricing based on 1 discount/origination point and loan amounts from $417,001 – $567,500 for King, Snohomish and Pierce Counties. NOTE: Revised 2009 FHA loan limits are posted here for Washington State. FHA has implemented the higher limits.
30 Year Fixed @ 1 Pt: 5.000% (APR 5.663%).
VA. Pricing based on credit scores of 620 or better based on loan amount of $417,000. For VA loan amounts over $417,000, please contact me.
30 Year Fixed @ 1 Pt: 5.000% (APR 5.107%).
Non-owner/Investment Property. Pricing based on credit scores 740 with a loan amount of $300,000 and a loan to value of 75% or lower.
30 Year Fixed @ 1.5 Pts: 5.625% (APR 5.841%).
Prime Rate (what HELOCs are based on): 3.250%.
Rates are as of Thursday, April 9, 2009 at 10:30 a.m. and may change at any time. Available programs may change at anytime as well. This is not a guarantee nor is it a commitment of interest rate.