Mortage Rates for July 7 2011

Why you should buy that home now: The Obama administration finds itself balancing the need to spur the economy through promoting the housing and mortgage market, while protecing banks and other investors from risky morgages. On Feb 11th it presented a broad plan to begin shrinking its support of the nations mortgage market. Though the plan lacked details or a timeframe, the resolution is far from certain that it will be completely implemented in the next couple of years.

Mortgage Rates for CT
Product	Interest Rates	Annual Percentage Rate	Interest Rate Based on Index + Margin
15 YR Fixed Conforming	3.750%	3.885%
15 YR Fixed Jumbo	4.500%	4.696%
30 YR Fixed Conforming	4.625%	4.773%
30 YR Fixed High Conforming	4.750%	4.808%
30 YR Fixed Jumbo	5.125%	5.242%
30 YR Fixed Super Jumbo	5.375%	5.527%
5/1 (30 Yr) ARM Conforming	3.125% *	3.133%	3.000%
5/1 (30 Yr) ARM Jumbo	3.750% *	3.299%	3.000%
5/1 (30 Yr) Portfolio ARM	3.375% *	3.161%	3.000%