The Federal Reserve met again this week and reiterated for the third time in a row that they will cease to purchase mortgage-backed securities on March 31st of this year. What does this mean to you as a homeowner or home buyer? Rates are going to go up! Without the benefit of mortgage-backed securities to falsely deflate interest rates the rates will have to start moving upwards. If you are in the market to purchase a home, sooner rather than later could benefit you.
| Conforming | High Balance | |
| (< $ 417,000) | (> $ 417,000 – $567,500**) | |
| Conv. 30 Year Fixed | 5.125%/5.199 APR | 5.250%/5.851 APR |
| Conv. 15 Year Fixed | 4.375%/4.482 APR | 4.625%/4.775 APR |
| Conv. 5 Year ARM | 3.625%/3.702 APR | 5.125%/5.213 APR |
| FHA 30 Year Fixed | 4.500%/4.571 APR | 4.750%/4.845 APR |
| FHA 5 Year ARM | 4.125%/4.185 APR | 5.125%/5.222 APR |
| Jumbo (> $ 567,500) | |
| 30 Year Fixed | 5.750%/5.860 APR |
| 15 Year Fixed | 5.500%/5.684 APR |
| 5 Year ARM | 4.750%/4.836 APR |
| Sales Price $1,250,000 | Loan Amount $1,000,000 |
| 5/1 ARM | 4.750%/4.888% APR |
| 7/1 ARM | 5.125%/5.266% APR |
Rates are for a Purchase or Refinance, based on 740+ credit score, Full Doc Income, 80% Loan To Value, 80% Combined Loan To Value, Primary Home, Single Family Residence, King County, 25 Day Lock with 1% Loan Origination Fee & 0% Discount Points and does not include any add-ons to rate or fee for such things as Cash Out, 2nd Home, Investment Property, 2nd Mortgages, etc. **County Limits Apply, Max for King, Pierce & Snohomish = $567,500.
Jennifer Fisher WA Lic #510-LO-52053
About the Author: Most people who meet Jennifer Fisher instantly wonder what she does with all that positive energy. Luckily for her clients, she puts it into making sure that they get the best situation for their financial futures. She truly represents her clients best interests, and does so with extreme professionalism, honesty, and a touch of wit. You thought talking about mortgages would be a task? Jennifer actually makes it fun and interesting.
Jennifer has been in the industry for 10 years, and has lived in this area her entire life. She raised her child here and is familiar with schools, restaurants, and outdoor activities. Jennifer has an abundance of trusted referral partners for her clients, should they need anything from a plumber to a financial planner to a car dealer. She knows how to make your home and mortgage truly work for you.
Contact for more information:
jenniferjfisher@cobaltmortgage.com
