Mortgage Rate Update

Sunday, June 22nd, 2008

All rate quotes are for a 60-day lock with 0 points

Conforming limits are up to a $417,000 loan limit*


30 yr conforming fixed: rate = 6.500% APR = 6.673%

15 yr conforming fixed: rate = 6.000% APR = 6.225%

7/1 yr conforming ARM: rate = 6.125% APR = 6.358%

5/1 yr conforming ARM: rate = 5.875% APR = 6.013%

30 yr FHA fixed: rate = 6.375% APR = 6.539%

30 yr CHFA w/ 1 pt. rate = 6.125% APR = 6.355%

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Jumbo loan limits range from $417,001 to $650,000*

30 yr jumbo fixed: rate = 6.625% APR = 6.885%

15 yr jumbo fixed: rate = 6.250% APR = 6.451%

7/1 yr jumbo ARM: rate = **** APR = ****


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CHFA (Connecticut Housing Finance Authority) rates for the week of June 6 -12, 2008:

Homebuyer Mortgage Plan:
Interest rate: 6.125 % (APR range 6.225 - 6.625 %)
Fees: Up to One Point (1% Origination Fee) * Payable to Lender
Term - 30 years, fixed rate

Downpayment Assistance Program (DAP)
(Rate listed is for DAP loans with Homebuyer Mortgage Program financing.)

Interest rate: 6.000 % (APR range 6.100 - 6.500 %)
Fees: Up to $200 Application Fee * Payable to Lender
Term - 30 years, fixed rate

(NOTE: If at any time the interest rate for the Homebuyer Mortgage Program exceeds 6%, the DAP interest rate will be capped at 6%.)

* Additional fees may apply


*Conforming loan limits listed above are for a single-family owner occupied residence.
Courtesy of The Harriman Team