September’s Fed meeting came and gone.  Conclusion is more or less the same as before.  No increase but the bias is upward.  Still expecting minimum one increase of a 0.25% before end of December 2016.

Below is a summary on mortgage rates as of 09/28/16**

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

(no point, no fee, no costs)

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

Conforming

≤417K           3.250%         2.625%       2.625%

APR              3.250%         2.625%       2.625%

High Balance

≤625K           3.500%         2.875%       3.125%

APR              3.500%         2.875%       3.125%

Jumbo

>625K           3.875%         3.500%       3.250%

APR              3.875%         3.500%       3.250%

† HARP II Refinance – LTV >80% ( or even negative equity)

†† FHA Loan with as low as 3.50% Down Payment

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

(no point)

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

Conforming

≤417K           3.125%         2.500%       2.500%

APR              3.175%         2.550%       2.550%

High Balance

≤625K           3.375%         2.750%       3.000%

APR              3.425%         2.800%       3.050%

Jumbo

>625K           3.750%         3.375%       3.000%

APR              3.800%         3.425%       3.050%

Call 949.232.0828 for Free Rate Quote

**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, Rate & Term on Refi.