Mortgage rates softened slightly for 30-year mortgages, as well as for jumbo mortgages over $600K. As the economic recovery is gaining strength, however, watch for rates to increase. Washington is trying to answer what role the government should play in the housing market. The government has been involved in housing market finance since the ‘30s, beginning its involvement by subsidizing home purchases for some buyers. Currently, the government backs nearly every mortgage in the under $417K range, essentially creating a nationalized mortgage system. So, the Obama administration is working on multiple options to wind down Fannie Mae/Freddie Mac, and re-involve private lenders. Lots of changes brewing. This, along with a necessary resolution of the national debt ceiling.
We can currently offer JUMBO Mortgages (not Fannie or Freddie backed) for Second Homes to $700K and investment properties to $600K loan amounts (or more with an exception by underwriting – and I’m always willing to ask) !! We are mortgage problem solvers (both for residential and commercial properties), and much appreciate your questions on rates, market influences and scenarios. ANASAZI MORTGAGE RATES
FOR Primary Residence (purchase only)
As of 05/02/2011
Mortgages to $417,000
w/ 1 PointAPRw/ no PointAPR
30-YR4.50%4.647%4.75%4.811%
15-YR3.875%4.128%4.25%4.355%
Mortgages $417,001 – $600,000
w/ 1 PointAPRw/ no PointAPR
30-YR5.00%5.125%5.625%5.662%
15-YR4.50%4.712%4.875%4.936%
Mortgages $600,001 – $700,000
w/ 1 PointAPRw/ no PointAPR
30-YR5.125%5.250%5.625%5.662%
15-YR4.50%4.712%4.875%4.936%
Mortgages $600,001 – $1,500,000
w/ 1 PointAPRw/ no PointAPR
30-YR5.125%5.250%5.625%5.662%
15-YR4.50%4.712%4.875%4.936%
Mortgages in excess of $1,500,000, ARM (Adjustable Rates Mortgage) & Interest Only programs are also available – Please call for Quotes.
Ginger Bowe Sullivan
ANASAZI MORTGAGE
P. O. Box 5724
Santa Fe, NM 87502-5724
Phone: 505-995-8888
Toll-Free: 800-995-8888 (if calling outside Santa Fe)
Fax: 505-995-8885
ginger@anasazimortgage.comwww.anasazimortgage.com
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