Weekly Mortgage Rate Update by Ben, Wells Fargo
Mortgage Bonds received a small boost today from a lagging stock market which responded negatively to very poor Retail Sales figures that were released today. Retail Sales for October were down -2.8%. This represents the worst reading since record keeping on Retail Sales began back in 1992. As a result, stocks stumbled and bonds were able to pick up some ground.
All rates are based on a principal and interest payment and a 1% loan origination fee.
Best,
Ben
Conforming
30 year fixed – 6.000%
5/1 ARM – 5.500%
High Balance Conforming ($567,500 maximum)
30 year fixed – 6.000%
Non-Conforming (Jumbo)
30 year fixed – 9.250%
5/1 ARM – 6.750%
FHA
30 year fixed – 6.125%
5/1 ARM – 5.500%
Ben Lenderman
Home Mortgage Consultant
Wells Fargo Home Mortgage
P6447-140
10900 NE 8th St., Suite 1430
Bellevue, WA 98004
425.468.8613 Tel
800.643.0528 Toll-free
425.301.1897 Cell
866.636.7738 Fax
ben.lenderman@wellsfargo.com
http://www.wfhm.com/ben-lenderman
Wells Fargo Bank, N.A. is the only bank in the U.S., and one of only two banks worldwide, to have the highest credit rating from both Moody’s Investors Service, “Aaa,” and Standard & Poor’s Ratings Services, “AAA
