Euro drama continued this week, including a run on Greek banks pushing worldwide panic to the safe haven of US Treasuries and moving mortgage rates to all-time lows. ( again )

Rates will eventually bump up an 1/8th or a ¼% but are still excellent and look to solidly stay in the 3’s for the near term. Please call me to help with your buyers. While other lenders are spending the majority of their time and resources on refinancing, both Bell and I are dedicating our time and energy on your purchase customers. As always, buyers and you are my priority!

Mortgage Rates as of Friday May 18, 2012 ( purchase transactions )( refinance rates are different, call for details )

30 day rate locks, subject to credit score and loan to value edits

FHA

30 year fixed                 3.50%     0% origination fee

3.25%   1.00 origination fee

 

Conventional

30 year fixed rate          3.50% ( 30 day lock )

15 year fixed rate          2.875%

5/1 ARM                        2.50%

7/1 ARM                        2.875%