Magnolia Real Estate Interest rates
August 19, 2008 by searchmagnolia
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Market Update
The bond market is mixed this morning as traders react to dipping crude prices and hotter-than-expected reports on wholesale inflation.
Providing pressure to the major indices, the Bureau of Labor Statistics’ producer price index showed a 1.2% increase for July, much more than the 0.6% expected by economists. The core rate jumped 0.7% for the month, also exceeding expectations of a 0.2% increase. Year over year, the core PPI increased 3.5%. Separately, the Census Bureau revealed that housing starts decreased 11% to an annual rate of 965,000 in July, a result that was slightly ahead of analyst forecasts.
In a broader development concerning the financials, a former chief economist for the International Monetary Fund, Kenneth Rogoff, said he expects a large U.S. bank to go under in the coming months. Rogoff said that further consolidation among the financials will have to take place before the credit crisis abates.
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Mortgage Interest Rates*
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Rates as of Tuesday, 19th August, 2008:
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Conforming
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APR
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Payment per
$1,000 |
Jumbo
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APR
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Payment per
$1,000 |
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30 Year Fixed
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6.375%
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6.489%
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$6.24
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8.125%
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8.256%
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$7.42
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30 Year Fixed Jumbo Conforming
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6.50%
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6.615%
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$6.32
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6.50%
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6.615%
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$6.32
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FHA
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6.375%
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6.489%
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$6.24
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6.75%
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6.870%
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$6.49
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5/1 ARM
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6.00%
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6.111%
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$6.00
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7.375%
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7.500%
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$6.91
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*Rates are subject to change due to market fluctuations and borrower’s eligibility.
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Windermere Mortgage Services Series LLC, Stacey Drake, Branch Manager/Mortgage
Consultant 206-256-0066. 30 Day Pricing with 1% origination Fee, FICO 720+
Magnoliabluff.com
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