Mortgage Rates for July 14, 2011

It’s a great time for buyers who waited patiently for prices to come down. Why continue to rent when you can buy for 10 or 20 percent less than you would have paid a few years ago? For sellers, it could be time to consider trading up.

Mortgage Rates for CT
Product	Interest Rates	Annual Percentage Rate	Interest Rate Based on Index + Margin
15 YR Fixed Conforming	3.500%	3.632%
15 YR Fixed Jumbo	4.375%	4.470%
30 YR Fixed Conforming	4.500%	4.646%
30 YR Fixed High Conforming	4.625%	4.682%
30 YR Fixed Jumbo	5.000%	5.116%
30 YR Fixed Super Jumbo	5.250%	5.368%
5/1 (30 Yr) ARM Conforming	3.000% *	3.099%	3.000%
5/1 (30 Yr) ARM Jumbo	3.625% *	3.265%	3.000%
5/1 (30 Yr) Portfolio ARM	3.000% *	3.087%	3.000%

The rates and APR above are based upon the following assumptions: a 20% down payment, $1,500 in finance charges, and 30 days prepaid interest, 1 point, and a 60 day rate lock. The rates and APR will vary depending upon the actual down payment percentages, points and fees for your transaction. Rates are subject to change without prior notice and may vary with your unique credit history, and terms of your loan. Property taxes and homeowners insurance are estimates and subject to change.