Friday, January 15, 2016

Mortgage Rates Fall Lower

Mortgage Rates Fall Further

RISMEDIA, Friday, January 15, 2016— Mortgage rates moved lower with the 30-year fixed-rate declining for the second straight week, according to Freddie Mac's recently released Primary Mortgage Market Survey® (PMMS®).

"Long-term Treasury yields continue to drop, dragging mortgage rates down with them,” says Sean Becketti, chief economist, Freddie Mac. “Turbulence in overseas financial markets is generating a flight-to-quality which benefits U.S. Treasury securities. In addition, sagging oil prices are capping inflation expectations. The net effect on the 30-year mortgage rate was a 5 basis point drop to 3.92 percent."

The 30-year fixed-rate mortgage (FRM) averaged 3.92 percent with an average 0.6 point for the week ending January 14, 2016, down from last week when it averaged 3.97 percent. A year ago at this time, the 30-year FRM averaged 3.66 percent.

Results show that the 15-year FRM this week averaged 3.19 percent with an average 0.5 point, down from 3.26 percent last week. A year ago at this time, the 15-year FRM averaged 2.98 percent.

Additionally, the 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.01 percent this week with an average 0.4 point, down from last week when it averaged 3.09 percent. A year ago, the 5-year ARM averaged 2.90 percent.

For more information, visit FreddieMac.com.

This is an indication of mortgage rates at the time this document is published. Specific rates are quoted based on a borrower’s qualifying criteria, credit score, equity, property type, and any applicable state-specific requirements. I would like the opportunity to provide specific rate quotes to your clients based on their specific needs.
 
 
REFERRAL PARTNER RATE SHEET
January 15, 2016
 RateAPRPoints
30 Year Fixed
3.875%
4.012%
0.125
15 Year Fixed
3.125%
3.355%
0.125
5 Year ARM
3.125%
3.086%
0.125
5/5 ARM (>$417K)
3.500%
3.375%
0.000
5 Year FHA ARM
3.250%
3.716%
0.000
30 Year FHA
3.500%
4.616%
0.000
30 Year VA
 3.625%
4.036%
0.250
5 Year VA ARM
3.250%
2.961%
0.000
30 Year USDA
3.625%
4.495%
0.000
Two Step 15/15 ARM
4.000%
3.818%
0.000
30 Year Jumbo
4.000%
4.042%
0.000

Prosperity Home Mortgage, LLC and I look forward to working with you to develop client relationships that last a lifetime. Please contact me at 410-937-1520 or lisa.diesel@phmloans.com if I can assist you or any of your clients.

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