Last Friday’s jobs reports came in much better than expected, and with the unemployment rate dropping to 7% from 7.3%. Some of this data was influenced by federal employees returning to work after the Oct furlough. However, most of the job gains came in transportation, warehousing, health care and manufacturing. These positive reports fuel an increasing comfort level with credit market participants (i.e., the bond buyers) accepting the idea that the time has come for the Feds to lessen their own bond-buying activities (the “taper”). Although it seems that the Fed’s tapering activities could lead to steady or perhaps fractionally lower mortgage rates, the markets seem to have already taken the eventual tapering process into account. But, the Fed may not do anything until the first of the year (can you believe, 2014 ? !!) because Congress still has to resolve the looming spending and debt ceiling issues. And the House of Representatives is scheduled to begin their holiday recess on Friday, Dec 13th.
Our advice to buyers (and those considering a refinance) is to err on the side of caution, and lock a known, rather than gambling on a possible “what if”.
Although we send rates out on a weekly basis, rates change daily, and sometimes even more frequently. If you need up-to-the-moment pricing, please call for our latest info
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ANASAZI MORTGAGE RATES* FOR Primary Residence (purchase only) As of 12/09/2013 *Programs require borrowers meet specific qualifications, not limited to credit scores, income, debt ratios, and other lender guidelines |
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| FIXED RATE Mortgages to $417,000 (Conforming) | ||||
|
w/ 1 Point |
APR |
w/ no Point |
APR |
|
| 30-YR |
4.25% |
4.375% |
4.50% |
4.541% |
| 15-YR |
3.25% |
3.437% |
3.50% |
3.569% |
| FIXED RATE Mortgages $417,001 – $2,500,000 (Jumbo) | ||||
|
w/ 1 Point |
APR |
w/ no Point |
APR |
|
| 30-YR |
4.75% |
4.858% |
5.25% |
5.272% |
| 15-YR |
3.75% |
3.933% |
4.50% |
4.536% |
| ADJUSTABLE RATE Mortgages to $417,000 | ||||
|
w/ 1 Point |
APR |
w/ no Point |
APR |
|
| 5/1 ARM |
2.875% |
6.053% |
3.375% |
6.431% |
| 7/1 ARM |
3.125% |
5.745% |
3.50% |
6.092% |
| ADJUSTABLE RATE Mortgages $417,001 – $2,500,000 | ||||
|
w/ 1 Point |
APR |
w/ no Point |
APR |
|
| 5/1 ARM |
3.125% |
6.270% |
3.75% |
6.762% |
| 10/1 ARM |
4.125% |
5.991% |
4.50% |
6.337% |
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Mortgages up to $2,500,000, other ARM Products & Interest Only programs are also available – Please call for Quotes. |
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Ginger Bowe Sullivan
ANASAZI MORTGAGE
1000 Cordova Pl, #56
Santa Fe, NM 87505
Phone: 505-995-8888
Toll-Free: 800-995-8888 (if calling outside Santa Fe)
Fax: 505-995-8885
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