Mortgage Update

ByMaureen Megowan Knowledge

The following are approximate interest rate levels for varying loan types as of November 14, 2008:

November 14, 2008

FIXED RATES

CONFORMING

JUMBO

Rates

Points

Rates

Points

30-Year Fixed Rate

5.875%

1.000

8.250%

1.000

30-Year Fixed Rate FHA

6.250%

7.125%

40-Year Fixed Rate

6.500%

1.000

1.000

HYBRID ARMS

5/1 ARM

5.375%

1.000

6.500%

1.000

7/1 ARM

5.875%

1.000

6.750%

1.000

10/1 ARM

6.375%

1.000

1.000

INTEREST ONLY

Rates

Points

Rates

Points

HYBRID ARMS

5/1 ARM

5.625%

1.000

6.625%

1.000

7/1 ARM

6.375%

1.000

6.875%

1.000

10/1 ARM

6.500%

1.000

1.000

Source: Michael Cordova Milestone Mortgage

Mortgages rates settle down a bit during the last week and seem to be more stable. With expectations of more grim economic news and the fear of inflation receding, we should see a continuing decline in mortgage rates over the next few weeks.

For more information about buying or selling a home on the Palos Verdes Peninsula, visit my webiste at https://rightreligion.stellarwp.site

For more information about Palos Verdes and South Bay Real Estate and buying and selling a home on the Palos Verdes Peninsula, visit my website at https://rightreligion.stellarwp.site . I try to make this the best real estate web blog in the South Bay Los Angeles and the Palos Verdes Peninsula. I would love to hear your comments or suggestions.