Mortgage Rates Climb Upward a Bit

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1/30/2103-According to Bankrate.com mortgage rates inched up in the past few weeks but remain steady and still quite appealing to buyers.  If Feds continue to buy mortgage bonds through 2014 the rates will probably be remain low for 2013.

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Mortgage Rates -Connecticut as of 1/28/2013
Product Interest Rates Annual Percentage Rate Interest Rate Basedon Index + Margin
15 YR Fixed Conforming 2.500% 2.744%
15 YR Fixed Jumbo 3.000% 3.247%
30 YR Fixed Conforming 3.375% 3.516%
30 YR Fixed High Conforming 3.500% 3.642%
30 YR Fixed Jumbo 3.875% 4.021%
30 YR Fixed Super Jumbo 3.750% 3.895%
5/1 (30 Yr) ARM Conforming 2.250% * 3.152% 3.250%
5/1 (30 Yr) ARM Jumbo 2.500% * 3.290% 3.250%
5/1 (30 Yr) Portfolio ARM 2.375% * 3.159% 3.250%
* 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