Tuesday, February 22, 2011

Weekend Rate Update

The Government’s temporary loan increase to $729,750 is slated to roll back to $625,500 on October 1st

5.250% for the 30 year Fixed ~ Conforming {0 to $417,000}

5.250% for the 30 year Fixed ~ Agency Jumbo {$417,000 to $729,750}

6.000% for the 30 year Fixed ~ Super Jumbo {$729,750+ 80% - $1,500,000 is OK}

3.875% for the 5 year Fixed ~ Conforming {0 to $417,000}

4.000% for the 5 year Fixed ~ Agency Jumbo {$417,000 to $729,750}

4.375% for the 5 year Fixed ~ Super Jumbo {$729,750 plus}

Please buffer the 30 year Fixed Rate by 0.50% for your purchase contract with Points "not to exceed 1.00".

Most transaction times should be set to fit the following Lender's time frames

Conforming and Agency Jumbo

Loan Contingency ~ 21 days

Appraisal Contingency ~ 21 days

Condo/Townhomes ~ 45 days

Single Family Residences ~ 45 days

Super Jumbo

Loan Contingency ~ 24 days

Appraisal Contingency ~ 24 days

Condo/Townhomes ~ 45 days

Single Family Residences ~ 45 days

Steve Eckhoff, Office and Voicemail/Pager 310-470-8080, e-fax is 310-576-8046



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