Friday’s Rates

Rhonda Porter on 02 22, 2008

Conforming Rates: based on a sales price of $500,000 with a loan amount of $400,000 and minimum credit score of 680, full-doc mortgage with reserves (taxes and insurance included in the mortgage payments). Rates are priced based on a 45 day lock and are priced with 1 discount/origination point.

30 Year Fixed: 6.000% (APR 6.156%)

15 Year Fixed: 5.375% (APR 5.627%)

10/1 ARM – 5/2/5 Caps: 5.625% (APR 6.503%)

10/1 ARM Interest Only – 5/2/5/ Caps: 5.625% (6.541%)

7/1 ARM – 5/2/5 Caps: 5.125% (APR 6.551%)

FHA/VA 30 Year Fixed: 6.125% (APR 6.654%)

Jumbo (Non-Conforming Rates). Pricing based on purchase with 20% down and minimum loan amount of $417,001 with a minimum credit score of 680, full document loan with reserves and a 45 day lock.

30 Year Fixed: 6.875% (APR 7.020%)

10/1 ARM: 6.125% (APR 6.805%)

10/1 ARM Interest Only: 6.750% (APR 7.230%)

7/1 ARM Interest Only: 6.375% (APR 7.205%)

5/1 ARM: 5.500% (APR 7.036%)

Prime Rate (what HELOCs are based on): 6.000%

Rates are as of Friday, February 22, 2008 at 3:00 p.m. This is not a guarantee nor is it a commitment to interest rate. For your personal rate quote or for loan amounts over $650,000; please contact your Mortgage Professional.

About the Author: Rhonda Porter

Rhonda Porter began her mortgage career on April 1, 2000 at Mortgage Master Service Corporation, a family-owned correspondent lender that has been lending in the Pacific Northwest for over 30 years. Prior to mortgage, she was in title industry for 14 years where she managed an escrow branch and gained an invaluable insight to the real estate industry. Rhonda Porter has a CMPS designation and is a Licensed Loan Originator 510-LO-32047. Rhonda is also the Chairperson for the Social Media Committee for WAMP (Washington Association of Mortgage Professionals). She was recognized in Seattle Weekly's Best of 2009 issue as the Best Twitting Mortgage Broker (check at her Twitter @mortgageporter) and Sellsius 2007 Top 12 Women Real Estate Bloggers and 2007-2008 Maginficent 7 Consumer Articles. Rhonda originates mortgages for homes located in Washington State. You can reach Rhonda at rhonda@mortgageporter.com or by calling (206) 718-9488. NOTE: Rhonda Porter and Mortgage Master Service Corporation are not affiliated with any real estate brokerages.

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