As we cautioned in our last writing, rates experienced an upward movement, although (overall) still in very attractive territory. Keep in mind, though, as the Dow Jones continues to climb north of 15,000, that pressure will continue on rates to rise. But, another note: Pundits are discussing when the Fed should consider easing of their purchases of bonds, as the economy seems to be in a state of recovery. Bond investors may have priced-in the Fed’s pull-back of mortgage-backed securities a little too quickly, which could result in some investor-re-strategizing, and point to higher bond prices and lower rates (possibly creating a market when both bond prices and stock prices rise).
Short-term strategy, in my opinion, would be to lock if your loan is closing in less than 15 – 20 days. Otherwise, if your borrower is a gambler and has a risk tolerance, rates could improve in the next 30 days, so floating the rate is a definite option. Always set limits, though, as rates bounce, as to what is the highest-rate tolerance level, then lock when the market points to that .
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ANASAZI MORTGAGE RATES* FOR Primary Residence (purchase only) As of 05/20/2013 *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) | ||||
|
w/ 1 Point |
APR |
w/ no Point |
APR |
|
| 30-YR |
3.375% |
3.491% |
3.625% |
3.660% |
| 15-YR |
2.625% |
2.830% |
2.875% |
2.937% |
|
|
|
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| Mortgages $417,001 – $1,500,000 | ||||
|
w/ 1 Point |
APR |
w/ no Point |
APR |
|
| 30-YR |
3.875% |
3.978% |
4.25% |
4.270% |
| 15-YR |
3.125% |
3.305% |
3.875% |
3.910% |
|
Mortgages up to $2,000,000, 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