Friday, October 17, 2008

Mortgage Rates 10/17/08: National Overnight Averages

NATIONAL OVERNIGHT AVERAGES

Conventional Loan: These averages include 1.75% discount point, origination fee of $795, $400 appraisal, Title Fees, assumes 20% equity, Loan size of $160,000, Credit Score of 720.

FHA Loan: .35% higher in rate, 1.375% discount point, $795 origination fee, $150,000 Loan size, 600 credit score (minimum credit score 580 at higher disocunt points or rate), 3% equity, $400 Appraisal, Title Fees

30 yr fixed mtg
6.35%

15 yr fixed mtg
6.04%

5/1 ARM
6.06%

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