Burien Undressed

Current Interest Rate Information, May 16, 2008

Information below provided courtesy of Ben Lenderman with Wells Fargo.  Please give him a call directly for your specific and personal loan needs.

The bond market was all over the place on Friday, having an intraday range of 72 bps.  Thankfully the market closed up 19 bps leaving us in a decent position heading into the weekend and for Monday.  Bonds opened the morning at a gloomy -34 bps but we gained all of that and more back when one of the worst readings in consumer confidence in almost three decades was announced.  This sent the stock market down and the bond market up.  This trend may become further solidified in the coming days and weeks, and if it does . . . we could see some phenomenal interest rates come our way.  But be ready to pounce, because it may not last long. 

All rates are based on a principal and interest payment and a 1% loan origination fee.  

Best regards,

Ben

Conforming

30 year fixed – 5.875%

5/1 ARM – 5.250%

7/1 ARM – 5.375%

High Balance Conforming ($567,500 maximum)

30 year fixed – 5.875%

5/1 ARM – 5375%

Non-Conforming (Jumbo)

30 year fixed – 6.750%

5/1 ARM – 6.250%

FHA

30 year fixed – 5.750%