mortgage rates

August 28th, 2008 at 1:06 AM by Leslie Bauer, San Francisco REALTOR

Daily Commentary & Rates

Tuesday, August 26, 2008

The data from the Standard & Poor's/Case Shiller national home price index suggested the housing slump is far from over: national U.S. home prices fell a record 15.4% in the second quarter compared with last year, according to the report this morning. The loss was even larger than the record 14.2% drop posted in the first three months of 2008. Both the Case-Shiller 10-city and 20-city indexes also posted record year over year losses in the second quarter, down 17% and 15.9% respectively. Sales of newly constructed U.S. single-family homes in July were lower than economists expected - expected to remain unchanged at the 530,000 annual pace first reported for June the actual sales pace in July of 515,000 climbed from the revised June level of 503,000.

Conforming Rates
($200,000 - $417,000)	0 Points	1 Point
30 Year	6.500	6.250
15 Year	6.000	5.750
7/1 ARM	6.625	6.125
5/1	6.375	6.000
3/1 ARM	6.375	5.750
7/1 ARM INTEREST ONLY	6.625	6.375
5/1 ARM INTEREST ONLY	6.500	6.000
3/1 ARM INTEREST ONLY	6.375	5.750

Jumbo Rates
($417,001 - $650,000)	0 Points	1 Point
30 Year	6.625	6.375
15 Year	6.250	6.000
7/1 ARM	7.125	6.750
5/1	6.750	6.250
3/1 ARM	7.750	6.875
7/1 ARM INTEREST ONLY	7.125	6.750
5/1 ARM INTEREST ONLY	6.750	6.375
3/1 ARM INTEREST ONLY	7.750	7.125

Super Jumbo Rates
($650,000+)	0 Points	1 Point
30 Year	8.000	7.625
15 Year	8.000	7.125
7/1 ARM	7.625	6.875
5/1	8.125	7.250
3/1 ARM	7.500	6.750
7/1 ARM INTEREST ONLY	7.875	7.125
5/1 ARM INTEREST ONLY	8.250	7.500
3/1 ARM INTEREST ONLY	7.750	6.875

Fannie Mae (Stimulus) Jumbo Pricing
(<$729,750)	0 Point	1 Point
30 Yr fixed	6.750	6.625
15 Yr Fixed	6.250	6.125
5 Yr ARM	6.750	6.625

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