Mortgage Rates Land Near 2016 Lows - Prosperity Home Mortgage = 3.375% Rate

Mortgage Rates Land Near 2016 Low

As part of my continued service to you, I'd like to provide the most up-to-date interest rates at Prosperity Home Mortgage, LLC. 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 August 6, 2016   Rate APR Points 30 Year Fixed 3.375% 3.497% 0.000 15 Year Fixed 2.625% 2.869% 0.250 5 Year ARM 2.875% 3.470% 0.000 5/5 ARM (>$417K) 3.000% 3.126% 0.125 5 Year FHA ARM 3.000% 3.786% 0.000 30 Year FHA 3.125% 4.258% 0.250 30 Year VA  3.250% 3.533% 0.000 5 Year VA ARM 3.000% 3.006% 0.000 30 Year USDA 3.250% 4.047% 0.000 Two Step 15/15 ARM 3.750% 3.563% 0.000 30 Year Jumbo 3.500% 3.559% 0.250

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.

RISMEDIA, Saturday, August 06, 2016— Average fixed mortgage rates declined after nudging slightly higher for three consecutive weeks, according to the recently released Freddie Mac Primary Mortgage Market Survey® (PMMS®).

The 30-year fixed-rate mortgage (FRM) averaged 3.43 percent with an average 0.5 point for the week ending August 4, 2016, down from last week when it averaged 3.48 percent. A year ago at this time, the 30-year FRM averaged 3.91 percent.

Additionally, the 15-year FRM this week averaged 2.74 percent with an average 0.5 point, down from last week when it averaged 2.78 percent. A year ago at this time, the 15-year FRM averaged 3.13 percent.

The 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 2.73 percent this week with an average 0.5 point, down from last week when it averaged 2.78 percent. A year ago, the 5-year ARM averaged 2.94 percent.

"Treasury yields fell last week following both the FOMC's meeting and a disappointing advance estimate for second quarter GDP,” says Sean Becketti, chief economist, Freddie Mac. “Mortgage rates, which had moved up 7 basis points over the past three weeks, responded by erasing most of those gains, falling 5 basis points to 3.43 percent this week for the 30-year fixed-rate mortgage. Mortgage rates have been below 3.5 percent every week since June 30. Borrowers are taking advantage of these low rates by refinancing. The latest Weekly Applications Survey results from the Mortgage Bankers Association show refinance activity up 55 percent since last year."

For more information, visit www.FreddieMac.com.

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