Weekly Mortgage Interest Rate Report — February 27, 2014

Weekly Mortgage Interest Rate Report  —  February 27, 2014
Omar Khamisa
Omar Khamisa
Mortgage Loan Manager – NMLS# 369325
Cell: (510) 648-5535
Send me an email     |   Visit my website
Mission San Jose Mortgage Inc.
Mission San Jose Mortgage Inc.
5651 N Pershing Ave. B4 – Stockton, CA 95207
Interest Rate Report Image

Data Provided by Freddie Mac’s Primary Mortgage Market Survey®
 Week ending on 02/27/14 Interest Rate Fees & Points Margin
 30 Year Fixed Rate 4.37% 0.7 N/A
 15 Year Fixed Rate 3.39% 0.7 N/A
 5/1-Year Adjustable Rate 3.05% 0.5 2.74
 1 Year Adjustable Rate 2.52% 0.4 2.71
For up-to-the-minute local mortgage interest rate information, contact:
Omar Khamisa at Cell: (510) 648-5535
 Week ending on 02/20/14 Interest Rate Fees & Points Margin
 30 Year Fixed Rate 4.33% 0.7 N/A
 15 Year Fixed Rate 3.35% 0.7 N/A
 5/1-Year Adjustable Rate 3.08% 0.5 2.74
 1 Year Adjustable Rate 2.57% 0.3 2.71
This is not intended as an advertisement of interest rates as defined by Regulation Z, Section 226.24.
Data is provided by Freddie Mac’s Primary Mortgage Market Survey (PMMS) and is provided for informational purposes only. The financial and other information contained herein speaks only as of the date posted herein. Freddie Mac, and/or the sender of this information, is not responsible for business decisions made based on the reported results of the PMMS. In general, the data presented were calculated from information collected Monday through Wednesday of the same week that the PMMS is released and may not reflect mortgage rates, fees or points currently available. Average fees and points are provided to reflect the total upfront cost of obtaining a mortgage. Borrowers may still pay closing costs which are not included in the survey.
Weekly Commentary
by Frank Nothaft, vice president and chief economist, Freddie Mac
“Mortgage rates edged up with new home sales exceeding expectations and rising to a seasonally adjusted pace of 468,000 units in January, the strongest annual rate since July 2008. The 9.6 percent increase in new home sales for January followed an upward revision of 13,000 units in December. The S&P/Case-Shiller® 20-city composite house price index rose 13.4 percent over the 12-months ending in December 2013.”
This is not a commitment to lend or extend credit. Restrictions may apply. Information and/or data is subject to change without notice. All loans are subject to credit approval. Not all loans or products are available in all states. MSJ is not acting on behalf of or at the direction of HUD/FHA or the federal government. Licensed by BRE# 01917135 and NMLS # 936439
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