Mortgage Rates

Product Interest Rate APR Total Points Conforming – loan amount less than or equal to $417,000.* 30-Year Fixed 6.250% 6.48%   1 15-Year Fixed 5.875% 6.252%   1 5-Year ARM 6.125% 7.177%   1 Jumbo – loan amount greater than $417,000.* 30-Year Fixed 6.375% 6.525%   1 15-Year Fixed 6.00% 6.246%   1 * Current rates as of: 11/3/2006 10:45am 1 These are the current rates for a single-family primary residence based on a 30-day lock. Your loan's final rate will also depend on specific characteristics of the loan transaction and your credit profile up to the time of closing.   1 The above rates are good for the date listed. Please call our office for current rates. If the down payment is less than 20.0%, mortgage insurance may be needed which could increase the payment and APR.   Annual Percentage Rate (APR) A yearly percentage rate that expresses the total finance charge on a loan over its entire term. The APR includes the interest rate, fees, points, and mortgage insurance, and is therefore a more complete measure of a loan's cost than the interest rate alone. The loan's interest rate, not its APR, is used to calculate the monthly principal and interest payment.   Total Points Points are charges levied by the mortgage lender, usually payable at closing to reduce the interest rate (discount points) or cover loan handling fees (origination). One point represents 1% of the face value of the mortgage loan. 30-day lock This lock gives you 30 days of protection from financial market fluctuations in interest rates by setting the range of pricing available to you. Your final rate, which may not be determined until closing, will reflect the pricing that was available at the time you locked for loans with your specific transaction characteristics and your credit profile. While locking does not guarantee that a specific rate will apply, it does ensure that your loan pricing will not be affected for the next 30 days by changes in financial market conditions.