Latest Mortgage Rates For West Los Angeles Home Buyers

Latest Mortgage Rates For West Los Angeles Home Buyers

Conforming Loan Limits ($417,000 and Under)

[column2]

Loan Program
30 Year Fixed
15 Year Fixed
10/1 ARM
5/1 ARM
5/1 ARM I/O

[/column2]
[column4]

Interest Rate
3.750%
3.000%
3.250%
2.250%
2.500%

[/column4]
[column4_last]

Points
1.125
1.125
0.625
0.875
1.000

[/column4_last]
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Agency Jumbo Loan Limits ($417,001 – $625,500

[column2]

Loan Program
30 Year Fixed
15 Year Fixed

[/column2]

[column4]

Interest Rate
4.000%
3.500%
[/column4]

[column4_last]

Points
1.125
0.000
[/column4_last]
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Jumbo Loan Limits ($625,501 – $4,000,000

[column2]

Loan Program
30 Year Fixed
10/1 ARM
7/1 ARM
5/1 ARM

[/column2]

[column4]

Interest Rate
4.375%
3.750%
3.375%
3.000%
[/column4]

[column4_last]

Points
1.000
1.000
1.000
1.000
[/column4_last]
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With these historically low rates and declining house prices, the typical Santa Monica, Brentwood and/or West Los Angeles family had more than double the income needed to purchase a median-priced home in January, according to the National Association of Realtors® Housing Affordability Index which registered the highest reading since records began in 1970. In fact, the Corelogic® National Home Price Index fell for the sixth consecutive month in January to the lowest level since January 2003. This high level of affordability likely contributed to the recent two-week rise ending March 2nd in mortgage applications for home purchases.

For more information contact Gary Limjap at 310-586-0339 or by email.
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