Mind Blowing Rates

Conforming 30 year fixed: 4.000% (APR 4.231%)
Jumbo Conforming 30 year fixed: 4.375% (APR 4.510%)

Conforming 15 year fixed: 3.625% (APR 4.169%)
Jumbo Conforming 15 year fixed: 4.25% (APR 4.396%)

Jumbo 30 year fixed: 6.000% (APR 6.229%)

I've taken the time today to quote some specific rates for people that are interested in what a historic 30 year fixed rate looks like. It's so unfortunate because this week when you hear the news report on the new lower record rates - they will be somewhere around 4.5 or 4.6% - my guess.


What so many people do not realize is they are quoting rates for retail operations. When you look to wholesale the rates are even better. Below you will see a snapshot of our market that has forced interest rates lower. I am optimistic that there is support, however whenever we reach a high point as we have (seen on the long term graph), sell offs are not uncommon. Locking is not a bad decision. Floating, I hope you have a strong stomach - flip a coin and you'll have your answer whether to float or lock.


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