Mortgage interest rates for buying a home on the Palos Verdes Peninsula decreased slightly this week ending 8/24/19. The following are excerpts from the newsletter on interest rates published by HSH Associates :
After generally firming all week until the early Friday announcement by China (and subsequent retaliation to the retaliation by president Trump late Friday), the underlying yields that influence mortgage rates moved sharply lower on Friday. Unlike U.S. Treasuries (and other sovereign bonds) mortgage bonds haven’t nearly attracted the same level of interest from investors. That will likely continue to be the case, so sharply lower Treasury yields probably means only slightly lower mortgage rates.
From where we are on Friday afternoon, we could see perhaps another 4-5 basis point decrease in the average offered rate for a conforming 30-year FRM when Freddie Mac reports next Thursday morning, but much depends on how much follow through to Friday’s rally remains when markets on Monday.
The following are interest rate quotes from John :Alvin of American California Financial Services, Inc. :
| 30 Yr Fixed FHA | ||||||
| Rate | APR | |||||
| 3.125 | 4.252 | Details
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| Conforming 30 Yr Fixed up to $484,350 | ||||||
| Rate | APR | |||||
| 3.625 | 3.743 | Details
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| Conforming Jumbo 30 Yr Fixed $484,351 – $726,525 | ||||||
| Rate | APR | |||||
| 3.750 | 3.857 | Details
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| Jumbo 30 Yr. to $1.5 Mil | ||||||
| Rate | APR | |||||
| 4.000 | 4.094 | Details
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| Jumbo 7/1 ARM $1.5 Mil (higher loan amt available) | ||||||
| Rate | APR | |||||
| 3.500 | 4.388 | Details
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