Archive for May, 2011

Market Update for May 31 2011

There are not a lot of things that really get my “blood boiling,” but hypocrisy is definitely one of them.  Recently, Jennifer Liberto reported in CNNMoney.com that JPMorgan Chase CEO Jamie Dimon rejected the idea that Chase would participate in new government programs aimed at helping struggling homeowners by taking “write-downs” on Chase mortgages.  A […]

Alternative Programs – Adding Value: HomePath With No Mortgage Insurance

For homes that Fannie Mae has foreclosed on, buyers can purchase the homes with as little as 3% down with no mortgage insurance, and through June 30, 2011, Fannie Mae is offering buyers up to 3.5% in closing cost credits.  Call us about the Fannie Mae HomePath Program for eligible properties and financing options.

Pulse on Politics: Benefits of Brokers

A March 31, 2011 New York Times article entitled “Nonbank Lenders Staging a Comeback,” noted that mortgage companies often “can offer rates that are 0.125 to 0.375 percentage points below those offered by major banks.”  At CPK Mortgage, we work with many of these small mortgage companies, so we can offer our clients the best […]

Social Responsibility: Living Our Values

As a follow up to my Market Update consider the following: I advise consumers to consider a lender or broker based not just upon its size or clout, but also upon its reputation and orientation toward the communities which it serves.  We have the power to affect society through our decisions thus making our social […]

05/31 — 30 YR Fixed: 4.375%*

FIXED Mortgage Rate* Points APR* 30 Year 4.375% 0.875 5.847% 15 Year 3.750% 0.000 5.503% INTEREST ONLY LOANS 5/1 LIBOR ARM 3.250% 0.750 4.823% 7/1 LIBOR ARM 3.625% 0.875 5.162% JUMBO LOANS 5/1 LIBOR ARM 3.750% 1.000 5.275% 30 Year 5.300% 1.000 6.702% *(1) Disclosures

05/31 — 15 YR Fixed: 3.750%*

FIXED Mortgage Rate* Points APR* 30 Year 4.375% 0.875 5.847% 15 Year 3.750% 0.000 5.503% INTEREST ONLY LOANS 5/1 LIBOR ARM 3.250% 0.750 4.823% 7/1 LIBOR ARM 3.625% 0.875 5.162% JUMBO LOANS 5/1 LIBOR ARM 3.750% 1.000 5.275% 30 Year 5.300% 1.000 6.702% *(1) Disclosures

05/31 — 5/1 ARM: 3.250%*

FIXED Mortgage Rate* Points APR* 30 Year 4.375% 0.875 5.847% 15 Year 3.750% 0.000 5.503% INTEREST ONLY LOANS 5/1 LIBOR ARM 3.250% 0.750 4.823% 7/1 LIBOR ARM 3.625% 0.875 5.162% JUMBO LOANS 5/1 LIBOR ARM 3.750% 1.000 5.275% 30 Year 5.300% 1.000 6.702% *(1) Disclosures

05/31 — 7/1 ARM: 3.625%*

FIXED Mortgage Rate* Points APR* 30 Year 4.375% 0.875 5.847% 15 Year 3.750% 0.000 5.503% INTEREST ONLY LOANS 5/1 LIBOR ARM 3.250% 0.750 4.823% 7/1 LIBOR ARM 3.625% 0.875 5.162% JUMBO LOANS 5/1 LIBOR ARM 3.750% 1.000 5.275% 30 Year 5.300% 1.000 6.702% *(1) Disclosures

05/16 — 30 YR Fixed: 4.500%*

FIXED Mortgage Rate* Points APR* 30 Year 4.500% 0.875 5.962% 15 Year 3.750% 0.250 5.503% INTEREST ONLY LOANS 5/1 LIBOR ARM 3.375% 0.875 4.935% 7/1 LIBOR ARM 3.750% 1.000 5.275% JUMBO LOANS 5/1 LIBOR ARM 3.750% 1.000 5.275% 30 Year 5.300% 1.000 6.702% *(1) Disclosures

05/16 — 15 YR Fixed: 3.750%*

FIXED Mortgage Rate* Points APR* 30 Year 4.500% 0.875 5.962% 15 Year 3.750% 0.250 5.503% INTEREST ONLY LOANS 5/1 LIBOR ARM 3.375% 0.875 4.935% 7/1 LIBOR ARM 3.750% 1.000 5.275% JUMBO LOANS 5/1 LIBOR ARM 3.750% 1.000 5.275% 30 Year 5.300% 1.000 6.702% *(1) Disclosures