The weekend is here!!!…and another rate update! Again, not a lot of movement in rates and not a lot of expected movement in the short term.
Your rate update:
Fixed Insured ‘full feature’ 5 year fixed = 1.94%
Fixed Insured quick close = 1.74%
Fixed Insurable 80% LTV = 2.24%
Fixed Insurable 75% LTV = 2.19%
Fixed Insurable 70% LTV = 2.09%
Fixed Insurable 65% LTV = 2.09%
Fixed Uninsurable purchase = 2.19%
Fixed Refinance = 2.29%
Variable Insured ‘full feature’ 5 year fixed = 1.4%
Variable Insured quick close = 1.25%
Variable Insurable 80% LTV = 1.45%
Variable Insurable 75% LTV = 1.45%
Variable Insurable 70% LTV = 1.4%
Variable Insurable 65% LTV = 1.4%
Variable Uninsurable purchase = 1.45%
Variable Refinance = 1.45%
I know that is a lot of numbers, and it probably seems like you need a university degree to decipher it all. This is because gone are the days where a 5-year mortgage rate was standard across the board. Mortgage rates now are very specific to the file, the equity position and the purpose of the loan, and so your rule of thumb shall just be to call me!
Happy home shopping!