Weekly Mortgage Interest Rate Report — December 18, 2014

Weekly Mortgage Interest Rate Report  —  December 18, 2014
Omar Khamisa
Omar Khamisa
Mortgage Loan Manager – NMLS# 369325
Cell/Text: 209-910-4675
Send me an email     |   Visit my website
Mission San Jose Mortgage Inc.
Mission San Jose Mortgage Inc.
5651 North Pershing Ave. B-4 – Stockton, CA 95207
Interest Rate Report Image

Data Provided by Freddie Mac’s Primary Mortgage Market Survey®
 Week ending on 12/18/14 Interest Rate Fees & Points Margin
 30 Year Fixed Rate 3.80% 0.6 N/A
 15 Year Fixed Rate 3.09% 0.6 N/A
 5/1-Year Adjustable Rate 2.95% 0.5 2.74
 1 Year Adjustable Rate 2.38% 0.4 2.74
For up-to-the-minute local mortgage interest rate information, contact:
Omar Khamisa at Cell/Text: 209-910-4675
 Week ending on 12/11/14 Interest Rate Fees & Points Margin
 30 Year Fixed Rate 3.93% 0.5 N/A
 15 Year Fixed Rate 3.20% 0.5 N/A
 5/1-Year Adjustable Rate 2.98% 0.5 2.74
 1 Year Adjustable Rate 2.40% 0.4 2.74
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
“The 30-year fixed mortgage rate dropped to its lowest point of 2014 this week. Mortgage rates fell along with 10-year Treasury yields, which closed at their lowest level since May 2013. November housing starts came in at a seasonally adjusted annual rate of 1.028 million starts, down 1.6 percent from an upwardly-revised October value. Housing starts for the calendar year will likely come in around 1.0 million, above the 2013 pace but lower than forecasters had expected at the start of 2014. Consumer prices declined more than expected in November, with CPI contracting 0.3 percent.”
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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