Interest Rates December 6, 2013

Home Service Lending’s Interest Rates – Dec 6. 2013 TODAY’S INTEREST RATES Jumbo Purchase 20% down (SFR) Up to $2,000,000 loan amount 30-year Fixed – 4.250% 15-year Fixed – 3.500% 10-year ARM –  3.625% 7-year ARM –    3.250% 5-year ARM –   2.750%   Conforming – High Balance Purchase 20% down (SFR) Up to $625,000  loan …

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The secret to reducing your mortgage payment

A mortgage recast is an adjustment in the monthly payment that makes the payment fully amortizing. The recast will be a payment increase when the existing payment is less than fully amortizing, and a payment decrease when the existing payment is more than fully amortizing. For example, let’s say your home loan has a balance …

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Lowered interest rates

According to The Wall Street Journal, mortgage rates have declined to a four-week low, falling to 4.71% last week. These low rates could help our housing economy by spurring buyer interest. Read the original article here.