Posts Tagged ‘Interest Rates’

CHFA & FHA Mortgage Interest Rates – December 20

Sunday, December 22nd, 2019

Whether you’re looking to purchase a home or condo, FHA or CFHA financing could be the answer. Are you looking for real estate in Rocky Hill, Windsor, East Windsor, Windsor Locks, or other towns in Greater Hartford CT? Take advantage of the continuing buyer’s market whether you’re a first-time homebuyer or seasoned veteran. Let Lisa Giller help you navigate through the home-buying maze. FHA and CHFA mortgage interest rates often differ by about 1%, so I want you to be informed! Questions? Ask me…Lisa Giller, Realtor!

All CHFA Mortgage Program interest rates are subject to change weekly. The following rates went into effect on Friday, December 20, 2019:

Homebuyer Mortgage Program

Interest rate: 3.125 % (APR range 3.225 – 3.875 %)
Fees: Up to One Point (1% Origination Fee) * Payable to Lender
Term – 30 years, fixed rate

  • Additional fees may apply

Downpayment Assistance Program (DAP)

(Rate listed is for DAP loans with Homebuyer Mortgage Program financing.)

Interest rate: 3.125% (APR range 3.225 – 3.875 %)
Fees: Up to $200 Application Fee * Payable to Lender
Term – 30 years, fixed rate

(NOTE: If at any time the interest rate for the Homebuyer Mortgage Program exceeds 6%, the DAP interest rate will be capped at 6%.)

  • Additional fees may apply

Homeownership Program,

Home of Your Own Program, Police Homeownership Program, Teachers Mortgage Assistance Program, and Military Homeownership Program

Interest rate: 3.0 % (APR range 3.10 – 3.75 %)
Fees: Up to One Point (1% Origination Fee) * Payable to Lender
Term – 30 years, fixed rate

(NOTE: Downpayment Assistance is available at the same interest rate noted for these 5 programs. The interest rate for these programs and the DAP interest rate are capped at 6%.)

  • Additional fees may apply

Mortgage Interest Rates Remain at Historic Lows…but…

Thursday, October 25th, 2012

Mortgage interest rates on the two most popular mortgage products, the 30 year fixed-rate  and the 15 year fixed-rate are at or very close to all-time lows. According to  the Freddie Mac Primary Mortgage market Survey the 30 year fixed rate mortgage  interest rate is 3.37% just .01% higher than the all-time low reached two weeks  ago. The 15 year fixed-rate mortgage interest rate did manage to squeeze-out a  new all-time record this week of 2.66%.

Historic Mortgage Interest Rates

However, a word of warning is needed concerning US mortgage interest rates as the  Mortgage Bankers Association (MBA) this week released its forecast for mortgage interest rates through the end of next year. According to this forecast, they expect a gradual increase in mortgage interest rates to begin very soon and carry on for years to come. By the end of 2013, the MBA’s forecast is for the 30 year  fixed-ratemortgage to be at 4.4%. In fact, their forecast suggests that the turn higher could begin almost immediately. There has never been, and may never be again, a better opportunity to refinance an existing mortgage or to purchase a new or existing home. With values still far below peak levels and interest rates the lowest they have ever been, this is truly the opportunity of a lifetime.

How to take advantage of this buyers’ market?  Contact me, Lisa Giller, Realtor!