| Rate Sheet for Friday, May 18, 2012 | |||||
| Rates Last Updated on 5/18/12, 10:00 AM CST | |||||
| Loan Program | Interest Rate | Lock Period | Max LTV | Credit Score | APR* |
| 95% LTV 30 Year Fixed | 3.500% | 30 | 95% | 680 | 3.583% |
| 95% LTV 20 Year Fixed | 3.250% | 30 | 95% | 680 | 3.365% |
| 95% LTV 15 Year Fixed | 2.750% | 30 | 95% | 680 | 2.897% |
| 95% LTV 5/1 LIBOR ARM | 2.375% | 30 | 95% | 680 | 2.453% |
| 96.50% LTV FHA 30 Year Fixed | 3.500% | 30 | 96.5% | 620 | 3.547% |
| 96.50% LTV FHA 15 Year Fixed | 3.000% | 30 | 96.5% | 620 | 3.084% |
| 100% LTV VA 30 Year Fixed | 3.750% | 30 | 100% | 620 | 3.824% |
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*The APR is an estimate which does not include interim interest and is based on an average loan amount of $212,500. Rates and terms are subject to change at any time based on various conditions such as market conditions, loan size, property type, credit rating, occupancy type, etc.
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Daily Market Watch for Wednesday, May 16, 2012 (Courtesy of Larry Baer and Market Alert )
Commentary: A stronger-than-expected report on April housing starts did not generate much of a reaction from mortgage investors. Traders also wasted little time shrugging off a stronger-than-forecast rise in April Industrial Production. Modestly improving economic data here in the states continues to take a back-seat to financial drama playing out in Greece and other euro-zone countries. The Greek political struggles dramatically increase the likelihood the country will go bankrupt before the summer is out. The threat of such an outcome and the impact it could have on other countries in the region continues to fuel the global “flight-to-quality” buying of U.S. dollar denominated assets like Treasury debt obligations and agency eligible mortgage-backed securities – a credit market condition highly supportive of the near-term prospects for steady to perhaps fractionally lower mortgage interest rates.
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