Month in review.

Position:LOAN RATE MONITOR

As of March 7, 2016, the majority of mortgage rates have reversed course and moved higher. The annual percentage rate (APR) for a 30-year fixed conforming loan averaged at 3.783 percent, up from 3.731 percent the previous week. The 5/1 adjustable-rate mortgage (ARM) rates have increased significantly over the past six months. For instance, the APR for a 5/1 ARM conforming is averaging 3.383 percent, up from 3.075 percent six months ago. Having said that, the 15-year fixed conforming has decreased significantly to an average APR of 3.103 percent, down from 3.461 percent in December 2015.

[GRAPHIC OMITTED]

MONTHLY AVERAGES 30-APR 29-MAY 30-JUN 31-JUL 15-Year Fixed Conforming 3.178 3.182 3.355 3.275 30-Year Fixed Conforming 3.850 3.859 4.128 3.999 30-Year Fixed Jumbo 3.681 3.679 3.895 3.767 5/1 ARM Conforming 2.975 2.970 3.024 3.048 5/1 ARM Jumbo 2.925 2.945 3.019 3.018 MONTHLY AVERAGES 31-AUG 30-SEP 30-OCT 30-NOV 15-Year Fixed Conforming 3.239 3.170 3.199 3.292 30-Year Fixed Conforming 3.968 3.885 3.949 4.052 30-Year Fixed Jumbo 3.725 3.568 3.697 3,685 5/1 ARM Conforming 3.083 3.075 3.095 3.228 5/1 ARM Jumbo 3.030 2.985 3.048 3.163 MONTHLY...

To continue reading

FREE SIGN UP