The stock markets are trading somewhat sideways today, and are in a holding pattern, as investors are awaiting the Fed’s projected move to curtail QE activities, if only slightly. A point of interest I discovered while researching: September seems to be “worst” month for the stock markets, and it certainly seems that we are going into a market mirroring past performances. If the stock market suffers declines, there is very much a likelihood that mortgage interest rates will also drop. On a second thought, I went back into mortgage rate archives, and saw that almost EVERY year (with the exception of 1 year) since 1992, interest rates were lower in Sept than in August. So, we may see a slight drop in rates next week. Nevertheless, play it safe, and advise your buyers to have a strategy in place as to when to lock their rate.
|
ANASAZI MORTGAGE RATES* FOR Primary Residence (purchase only) As of 08/26/2013 *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 |
4.375% |
4.501% |
4.625% |
4.667% |
| 15-YR |
3.50% |
3.717% |
3.75% |
3.820% |
| FIXED RATE Mortgages $417,001 – $2,000,000 (Jumbo) | ||||
|
w/ 1 Point |
APR |
w/ no Point |
APR |
|
| 30-YR |
5.00% |
5.11% |
5.375% |
5.397% |
| 15-YR |
4.125% |
4.310% |
4.875% |
4.911% |
| ADJUSTABLE RATE Mortgages to $417,000 | ||||
|
w/ 1 Point |
APR |
w/ no Point |
APR |
|
| 5/1 ARM |
3.25% |
4.633% |
3.75% |
5.036% |
| 7/1 ARM |
3.625% |
4.774% |
4.125% |
5.477% |
| ADJUSTABLE RATE Mortgages $417,001 – $2,000,000 | ||||
|
w/ 1 Point |
APR |
w/ no Point |
APR |
|
| 5/1 ARM |
3.325% |
4.740% |
NQ |
— |
| 10/1 ARM |
4.25% |
4.862% |
4.625% |
5.450% |
|
Mortgages up to $2,000,000, 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