Market Update

Over the past few weeks, the US Treasury’s took a small dip, pushing rates for mortgages even lower. For residential purchases and refinances, rates are in the the low 4% range for 30 year fixed products and in the 3% range for Jumbo Arms. Arm products remain extremely cheap! Stated income is back for qualified borrowers on owner occupied and investment properties for loan amounts up to $2,500,000. Stated products as low as 4.75% or 4.95% APR. One year tax returns availble for qualified self employed business owners.

With regards to rates on multifamily (apartment) product, banks are still very aggressive on 5 year fixed product. Rates  in the mid 3s range and 10 year fixed money is in the mid 4% range, depending on the loan amount and property.

Reminder: There is affordable financing available for construction, retail, and hard money loans.




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