Over the week-end, the Cyprus government enacted measures to impose a tax of 6.75% – 9.9% on its’ country’s bank deposits. This tax was meant to be the Cypriot bank rescue plan, but has ignited fears that a bank-run contagion could spread through other European countries. Depositors lined up at banks and ATM’s over the week-end to withdraw their funds, but couldn’t get access to their funds. The banks are normally open on Saturday, but remained closed and won’t open until March 19. Many ATM’s simply ran out of cash. Cyprus’ Finance Minister said this was the “least onerous” of the options Cyprus faced to keep the country afloat.
This action has created a “flight-to-quality” to U.S. dollar-denominated treasury debt obligations and agency-eligible mortgage-backed securities – which is a primary reason for rates to drop slightly from last week. As long as there is fear that other measures, such as the Cypriot tax on deposit assets, could happen anywhere else in Europe, we may see an influx of capital into the U.S. bond markets, which will keep pressure on rates to remain low.
If you find yourself needing a QUICK closing, we can generally close in less than 30 days – FASTER, if needed, many times. Any questions?? We’ll answer questions for either your BUYERS or SELLERS. Please feel free to call for any clarifications and/or mortgage analyses.
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ANASAZI MORTGAGE RATES* FOR Primary Residence (purchase only) As of 03/18/2013 *Programs require borrowers meet specific qualifications, not limited to credit scores, income, debt ratios, and other lender guidelines |
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| Mortgages to $417,000 (Conforming) | ||||
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w/ 1 Point |
APR |
w/ no Point |
APR |
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| 30-YR |
3.375% |
3.491% |
3.625% |
3.661% |
| 15-YR |
2.625% |
2.831% |
2.875% |
2.939% |
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| Mortgages $417,001 – $1,500,000 | ||||
|
w/ 1 Point |
APR |
w/ no Point |
APR |
|
| 30-YR |
3.75% |
3.853% |
4.125% |
4.146% |
| 15-YR |
3.125% |
3.306% |
3.50% |
3.537% |
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Mortgages in excess of $1,500,000, 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