Pasadena Mortgage Rates Report: August 15, 2008
| Pasadena Mortgage rates were stable this week. ARM rates went up and the fixed rate mortgage rates are the same as they were Monday. I mentioned that traders felt “stuck in the middle” of conflicting data. Core inflation is rising but oil prices are falling like a rock off a cliff. I’m as confused as the mortgage bond traders so I’m taking this opportunity to lock rates for loans closing within 30 days.
READ: Why Oil Prices Will Drop BELOW $100/ Barrel in 2009 Why? I think the rising ARM rates suggest that traders believe, in their hearts, that the Fed will tighten before Thanksgiving. I’m more about mitigating risk rather than pouncing on opportunity so when I’m confused, I lock mortgage rates. Maybe the descent in oil prices will continue and mortgage rates decline further but “I ain’t seeing it” from my ivory tower. Pasadena Mortgage rates for August 15, 2008. Loan amounts up to $417,000: 3/1 ARM 5.750% 5/1 ARM 5.750% 7/1 ARM 6.000% 10/1 ARM 6.250% 30 Yr Fixed 6.375% All rates offered to the borrower with 1 point cost. Rate quotes assume a purchase transaction with a 20% down payment, 720 credit score, and full income qualification. Rates are subject to fluctuation. Custom rate quotes and rate lock advice are available by calling (858)-777-9751. MORTGAGE RATE TREND:
Next 7 days: Neutral Next 30 days: Neutral Next 3 months: Neutral Originally posted on MillionaireRealEstateLender.com |
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The Pasadena Mortgage Rates Report: August 15, 2008 by Pasadena California Real Estate Market Resource, unless otherwise expressly stated, is licensed under a Creative Commons Attribution-Noncommercial-No Derivative Works 3.0 United States License.
Posted: August 15th, 2008 under Real Estate Market Reports.
Tags: interest rate trend, interest rates, pasadena mortgage, pasadena mortgage rates, pasadena mortgage trend
About the Author: Irina Netchaev
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