NJ First-Time Home Buyers

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Mortgage Market Rate Update

With the recent drop in interest rates, I thought it a good idea to give people a realistic idea of where rates are.  I rarely post rates, because they change daily, or even multiple times a day.  But with the government's $600 billion infusion into our Mortgage-Backed Securities (MBS), rates are significantly lower now then they were a week or two ago.  As always, if you have any questions, just drop me a line.

Mortgage Interest Rates*
Rates as of Monday, 1st December, 2008:
  Conforming APR Payment per
$1,000
Jumbo APR Payment per
$1,000
30-Yr Fixed 5.375% 5.509% $5.60 5.875% 5.967% $5.92
NJ First-Time Buyer 7% 7.148% $6.65 7% 7.099% $6.65
100% Financing 5.5% 5.635% $5.68 5.5% 5.590% $5.68
15-Yr Fixed %5.375 5.604% $8.10 5.75% 5.905% $8.30
*Rates are subject to change due to market fluctuations and borrower's eligibility.
Interest rates above are based on 30-day locks with one point. The conforming loan amount used for this ratesheet is $200,000 with a $250,000 purchase price. Non-conforming l/a of $500,000 based on $650,000 purchase price. Credit challenged, recent bankruptcy, first-time buyers, investment properties, and commercial financing also available. Treasury Mortgage/Aurora Financial Group is licensed by the NJ Dept of Banking and Insurance.
Comment balloon 0 commentsStephen Kappre • December 01 2008 12:53PM

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