January non-farm payroll (jobs) increased by 257,000, higher than street’s expectation (who??).  That sent 10 and 30-yr bond yields flying high.  It also assures the Fed would start raising short term interest rates by mid-year.  In fact rates have been moving higher the entire week.

10_30-yr_BondYield020615

 

Below is a summary on mortgage rates as of 02/06/15**:

*****Refinance Loan*****

(no point, no fee, no out-of-pocket costs)

Loan Amt    30Yr Fixed   15Yr Fixed   5/1 ARM

Conforming

≤417K           3.625%         2.875%       3.000%

APR              3.625%         2.875%       3.000%

High Balance

≤625K           3.750%         3.000%       3.250%

APR              3.750%         3.000%       3.250%

Jumbo

>625K           4.250%         3.500%       3.250%

APR              4.250%         3.500%       3.250%

†Contact me for HARP II Refi, LTV >80% (negative equity)

If your property value went down and couldn’t qualify for refi, gov’t sponsored HARP II maybe an option.

*****Purchase Loan*****

(no point)

Loan Amt    30Yr Fixed   15Yr Fixed   5/1 ARM

Conforming

≤417K           3.500%         2.750%       2.875%

APR              3.700%         2.950%       3.075%

High Balance

≤625K           3.625%         2.875%       3.125%

APR              3.825%         3.025%       3.325%

Jumbo

>625K           4.125%         3.375%       3.125%

APR              4.325%         3.575%       3.325%

**Mortgage rates fluctuate daily.  Certain requirements apply.  Rate quote based on 15-day Lock, Owner-occupied Single Family Residence (SFR) in CA, Borrower FICO Score ≥740, Loan-to-value (LTV) ≤75% (LTV ≤ 70% on Jumbo), Loan Amount ≥$380,000 for Conforming, ≥$480,000 for High Balance, ≥ $625,000 for Jumbo.