Sacramento Real Estate Views

Sacramento Mortgage Rates – 8/6/09

Rates Low Again This Week But It Won’t Last!

Better than expected economic news kept rates lower this week.  The average rate for a 30 year fixed rate mortgage is 5.22%, down from last week’s rate at 5.25%.  Last year at this time, the rate for the same product was 6.52%.

According to Frank Nothaft at FreddieMac.com:

1) Better than expected economic data kept rates low this week.

2) The economy slowed by an annual rate of 1% in the second quarter. This was more positive than market forecasts.

3) Homebuyer demand has improved aided by high levels of housing affordability.

4) The last 6 months has been the highest degree of housing affordability since they started tracking it in 1971.  As a result, pending sale numbers, homes under contract, has increased at the highest rate since July 2003.

Sacramento Area Mortgage Rates

This week, I’m adding to the weekly mortgage what some of our local lenders have to offer giving you a variety of programs and rates to chose from should you need them.

Please remember, mortgage rates are very volatile and change constantly.  The rates posted here may or may not be available and are valid for the moment when they are posted.

Stephen Hart, Masters Team Mortgage, 916-719-4295, stephenhart@helloworld.com

“Our 30 yr. conforming fixed rates are currently as low as 4.875%. Mortgage rates are super volatile and are changing multiple times daily, give call me for current pricing. Hottest product – flip without 90 day seasoning of title transfer!”

Pat Murphy, Guild Mortgage, 916-212-9451, pat@patmurphyloans.com

“Rates at Guild Mortgage for a 30 year conventional fixed loan are at 5.375%, and I think the FHA streamline refinance loan is still a great deal!”

Interest rates are subject to change without notice.  Please call or email for current pricing on all mortgage products. Thanks!

Tim Clark, Capitol Mortgage, 916-960-0388, tclark@capitolmortgage.com

“Rates for a FHA 30 year fixed 5.5%.  Conventional 30 year fixed 5.38%.  Lower rates available with discount points paid by borrower. Specializing in FHA with 580 credit scores and VA products. There will be a pricing adjustment today however as bonds are in down and the economic indicators have been friendly.  Call for current pricing on all products.”

Interest rates are subject to change without notice.  Please call or email for current pricing on all mortgage products.

It cannot be over-emphasized that interest rates constantly fluctuate and they can be completely different at any given time.  The rates stated above may not be available or if they are, discount points may have to be purchased to obtain that rate.

Looking for help purchasing a home?  Please contact me if I can help you in any way.

Thanks!

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Tags: sacramento mortgage rates

This entry was posted on Friday, August 7th, 2009 at 11:35 am and is filed under Mortgage Information. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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