Hello everyone, I’m sorry again been super busy the past few weeks. Everyone is trying to Refinance obviously!
Mortgage Market
Mortgage rates have come back up the past 24/48 hours. For those current borrowers or Homeowners who locked in either Monday or Tuesday excellent timing on your part. The lowest par 30 year conventional mortgage rates remain in a range between 4.375% and 4.50%, for well qualified borrowers. To get the lowest possible interest rate on a conventional mortgage you must have a FICO credit score of 740 or higher, a loan to value at 80% or less. Jumbo mortgage rates are the lowest they have been since 2003, the 30 year fixed is 5.125%, the 15 year fixed is 4.625% and the 5/1 ARM is 3.75%
Inquire within for current Mortgage Rates or guidelines bc@SmarterBorrowing.com 617.771.5021
FLOAT or LOCK
If I was closing on a Home Mortgage in the next 0 to 15 Days – LOCK
If I was closing on a Home Mortgage in the next 15 to 30 Days – LOCK
If I was closing on a Home Mortgage in the next 30 to 60 Days – FLOAT
If I was closing on a Home Mortgage in the next 60+ FLOAT
This is only my opinion of what I would do if I were financing a home. It is only an opinion and cannot be guaranteed to be in the best interest of all/any other borrowers.
