Jeff Hansen & Arvin Paredes

408-657-9837

Downtown San Jose Condo & Townhouse Living

Mortgage Update

I wanted to pass on to you some information regarding current mortgage rates from a lender I work closely with, Mike Aning, of Turnkey Mortgage. Here is a quick and simple summary from him, which you can definitely share with your friends:

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News

While employment numbers are certainly moving in the right direction, a rapid acceleration in labor demand is not yet in the cards – which by extension strongly suggests that a steady upward move for mortgage interest rates is not yet a threat either.

Another month or two of increased price paid for raw materials at farms, factories and refineries, should it occur, will almost certainly add upward pressure on mortgage interest rates.

Interest rates are slightly worse than last week.

Rates

Conventional 30 Year Fixed – 3.75%

  • FHA 30 Year Fixed – 4.00%
  • Conventional 30 Year Fixed 4.125%
  • FHA 30 Year Fixed – 4.00%
  • If you, a friend, family member, or neighbor, are thinking about buying and need to be connected with an intelligent lender, please feel free to contact me. In addition, if you have any questions regarding the real estate market and/or could use some guidance throughout the home search process, I’d be more than happy to talk to you. Send me an email or just give me a ring.

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