Over the weekend a major tornado wreaked havoc on the mortgage industry. Analysts are certain of the cause, but while siphoning through the damage, on thing is certain. 4% interest rates have disappeared from this realm of reality.
While we can only hope that these rates find their red ruby slippers sticking out from under some financial institution, we are left to embrace the reality that they are now merely a memory of the past and a dream of the future.
30 Year Fixed:
Interest Rate – 5.125%
APR – 5.278%
Payment – $816.73
15 Year Fixed:
Interest Rate – 4.625%
APR – 4.883%
Payment – $1,157.10
30 Year Jumbo:
Interest Rate – 5.50%
APR – 5.61%
Payment – $2,838.95
15 Year Jumbo:
Interest Rate – 5.00%
APR – 4.184%
Payment – $3,953.97
*The rates published on this page are applicable only to requests received from this site or by calling 352-308-7219. Mortgage rates published on this page are the current rates for a single-family, primary residence based on a 30-day lock period and are subject to change without notice. In order to receive a guaranteed rate, you must have applied for an application through Knightlines Mortgage Services, LLC and received a verbal confirmation from a mortgage broker that your desired rate is locked. Your guaranteed mortgage rate will depend on factors such as current market conditions, loan product, occupancy, property type and your credit profile.
Loan Product Information
-
Conforming rates are for loan amounts not exceeding $417,000 ($625,500 in AK and HI)
-
Jumbo rates are for loan amounts exceeding $417,000 ($625,500 in AK and HI)
-
Additional loan products, rates and lock periods are available.
Conforming Fixed APR calculation assumes a $150,000 loan amount with a 20% down payment, estimated borrower paid finance charges of .75% of the loan amount plus discount and origination if applicable. If the down payment is less than 20%, mortgage insurance may be needed on the loan. This could increase the monthly payment and the APR.
Jumbo Fixed APR calculation assumes a $500,000 loan amount with a 20% down payment, estimated borrower paid finance charges of .75% of the loan amount plus discount and origination if applicable. If the down payment is less than 20%, mortgage insurance may be needed on the loan. This could increase the monthly payment and the APR.
Comments are closed.