Monday Mortgage Rate Update
Friday's report that inflation was lower than expected caused bond rates to rally, which are inversely related to mortgage rates, so mortgage rates fell a little. Good news for Frederick Home buyers. These rates won't last much longer as experts expect inflation to rise by the end of the year.
With lots of data being released this week, mortgage rates are expected to be volatile. Unemployment rates, construction spending, consumer spending and consumer credit are some of the important figures that will affect interest rates, unemployment being the most important.
Today's Rates:
| Product | Interest Rate | APR |
|---|
| Conforming and FHA Loans |
|---|
| 30-Year Fixed | 5.000% | 5.191% |
|---|
| 30-Year Fixed FHA | 5.500% | 6.245% |
|---|
| 15-Year Fixed | 4.375% | 4.700% |
|---|
| 5-Year ARM | 4.000% | 4.019% |
|---|
| 5-Year ARM FHA | 4.000% | 3.536% |
|---|
| Larger Loan Amounts in Eligible Areas – Conforming and FHA. |
|---|
| 30-Year Fixed | 5.250% | 5.390% |
|---|
| 30-Year Fixed FHA | 5.500% | 6.187% |
|---|
| 5-Year ARM | 4.375% | 4.106% |
|---|
| Jumbo Loans – Amounts that exceed conforming loan limits1 |
|---|
| 30-Year Fixed | 6.250% | 6.399% |
|---|
| 5-Year ARM | 5.250% | 4.434% |
|---|
as of 08/03/2009 8:10:AM Eastern-->
 | Kathy Daubert
Wells Fargo Home Mortgage
5300 Westview Drive, Suite 302
Frederick, MD 20703
Phone: (301) 644-2102
Fax: (866) 751-4006
Cell Phone: (301) 606-0522
E-Mail: Kathy.Daubert@wellsfargo.com
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