Archive for September, 2014

09/23 — 30 YR Fixed: 4.000%*

FIXED Mortgage Rate* Points APR* 30 Year 4.000% 0.500 4.112% 15 Year 3.000% 0.375 3.176% ARM LOANS 5/1 LIBOR ARM 2.875% 0.625 2.990% 10/1 LIBOR ARM 3.500% 0.750 3.629% JUMBO LOANS 5/1 LIBOR ARM 3.375% 0.875 3.482% 30 Year 4.125% 0.625 4.216(1) Disclosures

09/23 — 15 YR Fixed: 3.000%*

FIXED Mortgage Rate* Points APR* 30 Year 4.000% 0.500 4.112% 15 Year 3.000% 0.375 3.176% ARM LOANS 5/1 LIBOR ARM 2.875% 0.625 2.990% 10/1 LIBOR ARM 3.500% 0.750 3.629% JUMBO LOANS 5/1 LIBOR ARM 3.375% 0.875 3.482% 30 Year 4.125% 0.625 4.216(1) Disclosures

09/23 — 5/1 ARM: 2.875%*

FIXED Mortgage Rate* Points APR* 30 Year 4.000% 0.500 4.112% 15 Year 3.000% 0.375 3.176% ARM LOANS 5/1 LIBOR ARM 2.875% 0.625 2.990% 10/1 LIBOR ARM 3.500% 0.750 3.629% JUMBO LOANS 5/1 LIBOR ARM 3.375% 0.875 3.482% 30 Year 4.125% 0.625 4.216(1) Disclosures

09/23 — 10/1 ARM: 3.500%*

FIXED Mortgage Rate* Points APR* 30 Year 4.000% 0.500 4.112% 15 Year 3.000% 0.375 3.176% ARM LOANS 5/1 LIBOR ARM 2.875% 0.625 2.990% 10/1 LIBOR ARM 3.500% 0.750 3.629% JUMBO LOANS 5/1 LIBOR ARM 3.375% 0.875 3.482% 30 Year 4.125% 0.625 4.216(1) Disclosures

09/15 — 30 YR Fixed: 4.000%*

FIXED Mortgage Rate* Points APR* 30 Year 4.000% 0.750 4.133% 15 Year 3.000% 0.625 3.212% ARM LOANS 5/1 LIBOR ARM 2.750% 0.875 2.884% 10/1 LIBOR ARM 3.500% 0.875 3.640% JUMBO LOANS 5/1 LIBOR ARM 3.375% 1.000 3.492% 30 Year 4.125% 0.750 4.226(1) Disclosures

09/15 — 15 YR Fixed: 3.000%*

FIXED Mortgage Rate* Points APR* 30 Year 4.000% 0.750 4.133% 15 Year 3.000% 0.625 3.212% ARM LOANS 5/1 LIBOR ARM 2.750% 0.875 2.884% 10/1 LIBOR ARM 3.500% 0.875 3.640% JUMBO LOANS 5/1 LIBOR ARM 3.375% 1.000 3.492% 30 Year 4.125% 0.750 4.226(1) Disclosures

09/15 — 5/1 ARM: 2.750%*

FIXED Mortgage Rate* Points APR* 30 Year 4.000% 0.750 4.133% 15 Year 3.000% 0.625 3.212% ARM LOANS 5/1 LIBOR ARM 2.750% 0.875 2.884% 10/1 LIBOR ARM 3.500% 0.875 3.640% JUMBO LOANS 5/1 LIBOR ARM 3.375% 1.000 3.492% 30 Year 4.125% 0.750 4.226(1) Disclosures

09/15 — 10/1 ARM: 3.500%*

FIXED Mortgage Rate* Points APR* 30 Year 4.000% 0.750 4.133% 15 Year 3.000% 0.625 3.212% ARM LOANS 5/1 LIBOR ARM 2.750% 0.875 2.884% 10/1 LIBOR ARM 3.500% 0.875 3.640% JUMBO LOANS 5/1 LIBOR ARM 3.375% 1.000 3.492% 30 Year 4.125% 0.750 4.226(1) Disclosures

Market Update for September 8 2014: The Irrationality of VA Loans

The “Irrationality of Rationality.” This is one of my favorite sociological concepts first promulgated by Max Weber. His point, in short, is that we create bureaucracies with good intentions. They seek to solve problems, ensure predictability, provide stability and create structure. These are all “rational” goals. The “irrationality” enters the picture when bureaucracy becomes too […]

Pulse on Politics: A Pending Mortgage Crisis?

There could be a second housing crisis on the horizon. During the lending “hey-days” of easy-to-obtain financing, many borrowers took out 2nd mortgages or Home Equity Lines of Credit (HELOCs). Typically, a HELOC allows 10 years for a client to make interest only payments. After 10 years, though, the entire balance must be paid off. […]