Mortgage bonds continue to remain at some of their best levels of the year, thanks to the weakened Euro, the Fed’s bond-buying program and the tepid economy. Since home loan interest rates are tied to mortgage bonds, as bonds improve, rates improve. In recent weeks, home loan rates have hit their best levels this year!
The 10-year treasury note rate, which is the benchmark for many long term interest rate including the housing mortgage rates dropped to around 2.6% at the closing on Friday from the high of around 3% in January this year.
If you bought the house at the beginning of this year, now it’s good time to refinance to lower your monthly mortgage payment.
Below is the best rate for the popular loan programs on Friday June 12, 2014.
| Best Interest Rate | |
| 30 Year Fixed Conforming | 4.125% |
| 15 Year Fixed conforming | 3.125% |
| 10/1 ARM | 3.625% |
| 7/1 ARM | 3.125% |
| 5/1 ARM | 2.75% |
| 30 Year Fixed Super Conforming | 4.25% |
| 15 Year Fixed Super Conforming | 3.375% |
| 10/1 ARM Super Conforming | 3.875% |
| 7/1 ARM Super Conforming | 3.5% |
| 5/1 ARM Super Conforming | 3.0% |
| Jumbo 30 Year Fixed | 4.25% |
| Jumbo 10/1 ARM | 4% |
| Jumbo 7/1 ARM | 3.375% |
| Jumbo 5/1 ARM | 3% |
The above rate is based on the best scenario (credit score 740 and above, LTV 60%, SFR, Owner Occupy, conform at $400K and super conforming at $600K), lock for 30 days.
If you have a different scenario, please give me a call at 408-799-2558 to get your customized rate info.
