Mortgage Rate Update

Mortgage Rate Update

Mortgage Rate Update

Mortgage Rate Update

Mortgage Rate Update

Mortgage Rate Update

Interest Rate Update

Interest Rate Update

Loan Category Rate 30 Year Fixed  4.500%  15 Year Fixed  3.500%  30 Year FHA  4.125%  15 Year FHA  3.625%  7 Year ARM  3.875%  5 Year ARM  3.125%  30 Year Jumbo  4.500%  15 Year Jumbo  3.500%  30 Year VA  4.125%  15 Year VA  3.625%

Interest Rate Update

Loan Category	Rate
30 Year Fixed	4.500%
15 Year Fixed	3.625%
30 Year FHA	4.125%
15 Year FHA	3.625%
7 Year ARM	4.000%
5 Year ARM	3.250%
30 Year VA	4.125%
15 Year VA	3.625%

Interest Rate Update

National Averages 30-Yr FRM 15-Yr FRM 5/1-Yr ARM 1-Yr ARM Average Rates 4.32% 3.37% 3.07% 2.63% Change (from prior week) -0.18% -0.17% - 0.04% - 0.02% Fees & Points 0.7 0.7 0.5 0.4 Margin N/A N/A 2.75 2.76  Regional Averages (West) 30-Yr FRM 15-Yr FRM 5/1-Yr ARM 1-Yr ARM Average Rates 4.27% 3.31% 2.97% 2.50% Change (from prior week) - 0.19% -0.17% + 0.02% -----% Fees & Points 0.8 0.7 0.6 0.4 Margin N/A N/A 2.74 2.75

US Government Shut Down & How it Affects Your Purchase and Sales Agreement

As most of you are aware, the House and Senate did not come to an agreement before the clock struck midnight this morning - and now we are experiencing the first government shutdown in over 15 years.

Please see below how the government shutdown is affecting certain loan types and documentation availability:

All loans:

·         Tax transcripts and VOE's will still be required on all loans.  4506T's can be ordered, but there is no one at the IRS to process them.  Any delays caused by the shutdown that affect the ability to get these conditions met will have to wait until those conditions can be met.

·         SSN verifications can be ordered, but at this time it appears that the results are at the very least going to be delayed past the normal 10-15 minute turn times they usually run by.

USDA:

·         The offices will remain closed until the government shutdown is complete.  Submission of loan packages to RH is suspended since nobody will be there to accept them.  Any loans currently at RH for conditional commitments will be delayed until the shutdown ends.

·         All USDA websites, including GUS and lookup sites for property/income qualification, will be unavailable during the government shutdown.
  

FHA:

·         FHA Connection will be available, but since FHA Connection occasionally interfaces with other systems that may not be available, FHA Connection processes may not be fully functional.  Note the following below:

o   You will be able to obtain a new FHA case number from the FHA Connection.

o   CAIVRS will be available to determine if a borrower has a delinquent federal debt.

o   FHA Total Scorecard will be available, and loans can fund during this time, provided all normal underwriting and processing requirements are met.

o   Automated password resets will be available for FHA Connection, but resets that require an FHA employee's direct assistance will not be available.

VA:

·         The VA portal states that "The VA Home Loan Guaranty Program will continue to function as normal in the event of a Government Shutdown."

·         Any scenarios where VA needs to be contacted will not be available until the shutdown ends.

As more information becomes available we will pass it along to you as quickly as possible.

Interest Rate Update

National Averages 30-Yr FRM 15-Yr FRM 5/1-Yr ARM 1-Yr ARM Average Rates 4.50% 3.54% 3.11% 2.65% Change (from prior week) -0.07% -0.05% - 0.11% - 0.02% Fees & Points 0.7 0.7 0.5 0.4 Margin N/A N/A 2.74 2.75  Regional Averages (West) 30-Yr FRM 15-Yr FRM 5/1-Yr ARM 1-Yr ARM Average Rates 4.46% 3.48% 2.95% 2.50% Change (from prior week) - 0.07% -0.07% - 0.21% - 0.03% Fees & Points 0.7 0.7 0.6 0.4 Margin N/A N/A 2.74 2.75

Interest Rate Update

National Averages 30-Yr FRM 15-Yr FRM 5/1-Yr ARM 1-Yr ARM Average Rates 4.57% 3.59% 3.28% 2.71% Change (from prior week) + 0.06% + 0.05% + 0.04% + 0.07% Fees & Points 0.7 0.7 0.5 0.5 Margin N/A N/A 2.75 2.77 Regional Averages (West) 30-Yr FRM 15-Yr FRM 5/1-Yr ARM 1-Yr ARM Average Rates 4.55% 3.55% 3.20% 2.60% Change (from prior week) + 0.06% + 0.04% + 0.09% + 0.10% Fees & Points 0.7 0.7 0.6 0.4 Margin N/A N/A 2.75 2.75