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Prospect Financial Group, Inc.

Mortgage Rates Dip to Recent Lows

Tuesday, April 8, 2014 - Article by: Prospect Financial Group, Inc. - Message

Since the start of the year, mortgage rates have been in flux. Uncertainty surrounds today's market, which makes it hard for a shopper to lock a great rate. Luckily for mortgage shoppers, mortgage rates fell again this week.

Interest rates crept up in the earlier part of last week with the anticipation of the release of the March jobs report. However, the report came out much weaker than expected, which drove rates down on Friday.

$0 - $417,000 Loan Amounts30 Year Fixed @ 4.125% (4.125% APR) with 0 points 25 Year Fixed @ 4.125% (4.125% APR) with 0 points 20 Year Fixed @ 3.99% (3.99% APR) with 0 points 15 Year Fixed @ 3.25% (3.25% APR) with 0 points 10 Year Fixed @ 3.00% (3.00% APR) with 0 points 5/1 ARM @ 2.875% (2.875% APR) with 0 points 7/1 ARM @ 3.125% (3.125% APR) with 0 points 10/1 ARM @ 3.625% (3.625% APR) with 0 points

$417,001 - $625,500 Loan Amounts30 Year Fixed @ 4.375% (4.375% APR) with 0 points25 Year Fixed @ 4.375% (4.375% APR) with 0 points 20 Year Fixed @ 4.125% (4.125% APR) with 0 points 15 Year Fixed @ 3.50% (3.50% APR) with 0 points 10 Year Fixed @ 3.25% (3.25% APR) with 0 points 5/1 ARM @ 3.25% (3.25% APR) with 0 points 7/1 ARM @ 3.49% (3.49% APR) with 0 points 10/1 ARM @ 3.75% (3.75% APR) with 0 points $625,501 - $2,000,000 Loan Amounts30 Year Fixed @ 4.50% (4.50% APR) with 0 points 15 Year Fixed @ 3.75% (3.75% APR) with 0 points 5/1 ARM @ 3.25% (3.25% APR) with 0 points 7/1 ARM @ 3.5% (3.5% APR) with 0 points 10/1 ARM @ 3.875% (3.875% APR) with 0 points

The uncertainty we have seen in mortgage rates this year is coming from three main sources: the new Federal Reserve Chairwomen Janet Yellen, geopolitical tensions and the state of the U.S. economy. With investors uncertain of the future of the U.S. economy, a weaker-than-expected jobs report for March helped push mortgage rates lower.

If you have yet to refinance your loan or are considering purchasing a new home, now is a great time to do so! Give me a call today to discuss locking in one of the low interest rates displayed above. I can be reached at 858-605-0952.

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