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JH banker: Interest rates to rise

By   /  December 29, 2009  /  No Comments

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Jackson Hole banker Richard Uhl, real estate loan manager for First Interstate Bank, says home loan rates have been gradually increasing in recent weeks.

“We are currently at 5.25 percent on a “Conforming” 30-year fixed rate loan.  The 30-year fixed Fannie Mae required net yield (wholesale price to lenders) is at the highest level since August 24.  As we continue to see a decrease in Fed purchases of mortgage backed securities, it is likely that Home Loan Rates will unfortunately continue to rise.”

Also included in Uhl’s weekly “Economic Comment” is a current rate sheet.

  • 30-year Fixed rates for Super Conforming loans (maximum amount $693,750) are currently at 5.375 percent; Jumbo loans (maximum amount $2 million) are at 6.125 percent.
  • 15-year Fixed rates for conforming loans are 4.5 percent; Super Conformings are 4.75 percent; Jumbos are 6.5 percent.
  • 5-year ARM loans are 4 percent; Super Conformings are 5.125 percent; Jumbos are 5.125 percent.

Contact me to discuss where I see rates, as well as Teton County home prices and inflation, going during the course of 2010.

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