Mortgage Rates for August 5, 2011
The monthly mortgage payment on a median-priced home represents just about 14% of median gross household income, compared to 20% historically. Affordability has remained near its all-time most attractive levels for some time.
| Mortgage Rates for CT | |||
| Product | Interest Rates | Annual Percentage Rate | Interest Rate Based on Index + Margin |
| 15 YR Fixed Conforming | 3.375% | 3.480% | |
| 15 YR Fixed Jumbo | 4.000% | 4.337% | |
| 30 YR Fixed Conforming | 4.250% | 4.392% | |
| 30 YR Fixed High Conforming | 4.250% | 4.514% | |
| 30 YR Fixed Jumbo | 4.625% | 4.904% | |
| 30 YR Fixed Super Jumbo | 4.875% | 5.166% | |
| 5/1 (30 Yr) ARM Conforming | 2.750% * | 3.044% | 3.000% |
| 5/1 (30 Yr) ARM Jumbo | 3.250% * | 3.176% | 3.000% |
| 5/1 (30 Yr) Portfolio ARM | 3.000% * | 3.087% | 3.000% |
* Initial Interest Rate. The interest is fixed for the first five years and adjusts annually thereafter for the remainder of the loan term. The rate may increase after consummation. The Index for this product is the 1 Year LIBOR. The margin for this adjustable rate mortgage may vary with your unique credit history, and terms of your loan.
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 30 day rate lock. The rates and APR will vary depending upon the actual down payment percentages, points and fees for your transaction. Rates and the margin for adjustable rate mortgages [if applicable] are subject to change without prior notice and may vary with your unique credit history, and terms of your loan.The above rates may change or not be available at commitment or closing or may be subject to product restrictions. CT Licensed Mortgage Correspondent Lender 15524 – MA Licensed Mortgage Lender/Broker MC2630 – Licensed by the NH Banking Dept Mortgage Banker/Broker 11083MB – RI Licensed Lender/Loan Broker 20051918LL, 20051919LB – NY Licensed Mortgage Banker-NYS Banking Department LMBC 106535
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