More increases in rate this week, speculatively due to suspicions that the Fed may raise rates to stabilize inflation. Rates are back up to the highs we saw in October last year. Still decent rates if you are looking a the big picture of rates over the past 20 years, but a sizable increase over the last few months. Those hit hardest by the increases will be homeowners who need to refinance since they are dealing with two negatives here; lower values and higher rates. For buyers and investors the raise in rates may encourage purchases now rather than later. Those who sit on the fence waiting for a little better deal on properties may pay for their greed with higher rates that lower the ROI on the overall investment.
30 year Fix Full Am
1 point: 6.375%
2 points: 6.125%
15 year Full AM
1 point: 6.000%
2 points: 5.750%
5 year ARM Full Am
1 point: 5.750%
2 points: 5.375%
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Broker ID# 01807122. Mortgage rates are specific to each individual’s financial scenario. These estimates are based on scenario with a conforming loan amount, FICO of 770, 20% down, full documentation, 6 months reserves, owner occupied, 30 day lock. To complete a request for your individual estimate click HERE.
