The euro uncertainty is still pressuring our rates, as well as many of the other parts of our international economy, including commodities such as gold, silver and oil taking hits in their pricing. Besides the concerns about Europe, China seems to be experiencing softer growth, as well as the U.S. feeling our own challenges in our job market, The world is watching to see if Greece will leave the euro zone. Markets also are concerned about the election of Francois Hollande, as the new president of France (who campaigned on an anti-austerity platform). With all of this cautionary int’l economic news, Lewis Ranieri (who helped expand the mortgage securities market in the 80’s) announced at a Mortgage Banker’s Assn conference in NY this week, that he felt that home prices (nationally) have reached their bottom. GO FIGURE: We realize that the opinions are not just determined by one entity or group, and one opinion isn’t necessarily the right one. We need to focus on what is RIGHT about our economy (for instance, we are talented, innovative and for the most of us, hard working and ethical). “Doom and gloom” gets us nowhere, while hope and appreciation of what we have will move us forward.Rates may bounce a little this week, but don’t get too comfortable in the low rates remaining where they are “forever”. Let your buyers know about Ranieri’s “bottom of the market” thoughts.We look forward to discussing rates, programs, and loan scenarios. Please feel free to call for any clarifications – We realize there are many lender choices, and hope that we are your lender of choice.ANASAZI MORTGAGE RATESFOR Primary Residence (purchase only)As of 05/08/2012
Mortgages to $417,000 (Conforming)
w/ 1 PointAPRw/ no PointAPR
30-YR3.625%3.743%3.875%3.912%
15-YR2.875%3.082%3.00%3.064%
Mortgages $417,001 – $1,500,000
w/ 1 PointAPRw/ no PointAPR
30-YR4.375%4.482%4.75%4.772%
15-YR3.375%3.557%3.625%3.662%
3/1 ARM – 30-YR
w/ 1 PointAPRw/ no PointAPR
Conforming2.25%4.250%2.625%4.533%
Jumbo2.625%4.347%3.125%4.820%
5/1 ARM – 30-YR
w/ 1 PointAPRw/ no PointAPR
Conforming2.25%3.965%2.625%4.322%
Jumbo2.625%4.463%3.125%4.890%
7/1 ARM – 30-YR
w/ 1 PointAPRw/ no PointAPR
Conforming2.625%4.110%3.00% 4.471%
Jumbo2.875%4.512%3.25%4.870%
Mortgages in excess of $1,500,000, other ARM Products & Interest Only programs are also available – Please call for Quotes.
Ginger Bowe SullivanANASAZI MORTGAGEP. O. Box 5724Santa Fe, NM 87502-5724Phone: 505-995-8888Toll-Free: 800-995-8888 (if calling outside Santa Fe)Fax: 505-995-8885ginger@anasazimortgage.comwww.anasazimortgage.com