Prevailing Sonoma County Home Mortgage Rates – June 19, 2009
June 19th, 2009 categories: Mortgage Rates
Prevailing Sonoma County Home Mortgage Rates – June 19, 2009
Great news! Mortgage rates moved back down this week.
Mortgage rates moved down this week on weaker than expected CPI and PPI numbers. Both indices showed no signs of inflation and that relieved the markets.
The relief was short lived as the markets then focused on other economic news that put pressure on the stock market but helped interest rates.
It appears rates will stay in this range going forward with good days pulling rates down to 5% and bad days driving them up to 5.5% or higher. Sad to say, those who are waiting for 30 year fixed rates back in the 4’s will miss out on these amazing sale prices. It appears that boat has left the harbor for the foreseeable future.
$8,000 Tax Credit for First Time buyers goes away soon!
It will soon be too late for first time buyers to take advantage of the “Gift” from the Government of $8,000 for buying a home. To be eligible for the $8K, an escrow must close by December 1st 2009.
The average buying process can take a couple of months or more. That does not leave much time. If you’re thinking about buying, I suggest you get out there now. The window of opportunity is closing. Don’t be one of the sad people who will some day say, “I should have and wish I would have” bought that home!
The following rates were quoted for a sample conforming loan with the following criteria: $300,000 Loan Amount | 80% LTV (Loan To Value) | 680+ FICO Score
15 Year Fixed Rate Mortgage – 4.75% (5.05% APR) At 1.25 Points
30 Year Fixed Rate Mortgage – 5.25% (5.13% APR) At 1.25 Points
1 Year Adjustable Rate Mortgage (1 Year ARM) – 4.75% (3.96% APR)
5/1 Adjustable Rate Mortgage (5/1 ARM) – 4.875% (4.66%APR)
7/1 Adjustable Rate Mortgage (7/1 ARM) – 5.25% (4.95% APR)
Article Contributed by: Dave Raffi, Regional Manager at Mission Hills Mortgage: 707-303-2933
Make sure you tell Dave that Yasmeen sent you!
* DISCLAIMER: These mortgage interest rates are quoted at a specific time, 06.19.2009. Interest rates are subject to change upon changes in market conditions and borrower qualifications.
Now that you are caught up on the latest mortgage rate news, check out the latest prices of Sonoma County Homes by clicking the appropriate link below:
Bodega Bay Homes | Cotati Homes | Guerneville Homes | Penngrove Homes | Petaluma Homes | Rohnert Park CA Homes | Santa Rosa Homes For Sale | Sea Ranch Homes | Sebastopol Homes For Sale | Sonoma County Real Estate | Wine Country Real Estate
Mortgage rates moved down this week on weaker than expected CPI and PPI numbers. Both indices showed no signs of inflation and that relieved the markets.
The relief was short lived as the markets then focused on other economic news.