Interest rates are very low again after recent spike. 30 year mortgage rate for conforming loan hit 3.75% with no closing cost and no point.
Below is a snapshot of the Best Rates on 4/13/2012
The conforming 417K:
1) 30 year fixed 3.75 (APR 3.775%)
2) 15 year fixed 3% (APR 3%)
3) 5 year ARM, 2.5
4) 7 year ARM, 2.75
High-balance (super conforming):
1) 30 year fixed 3.99 (APR 3.99%)
2) 15 year fixed 3.25% (APR 3.25%)
3) 5 year ARM, 2.875
Jumbo Loan
7 Year ARM 3.25%
For ready to lock loans, with no point, no prepay penalty. Primary home.
For ARM loans, if prepaid interest is zero (closing at end of month), the APR = 1 year libor index + 2.25
Rate subject to change as well as lender’s approval and qualification
