Mortgage Update

Good Morning-
Rates remain basically unchanged for this week. Both the bond and stock market are closed today so these rates will not change for the weekend. Unlike most lenders, we can lock in interest rates over the weekend based on the last published rate. I also want to highlight our builder best program which is tailored for new construction and renovation:
  • Lock in at current 60 day market rate on any ARM and the rate is guaranteed for 180 days (270 and 360 days also available at slightly higher rate) while your client’s home is completed or renovated
  • If rates fall during construction then free FLOAT DOWN to market rate at time of closing
  • If client would prefer a FIXED rate versus ARM then FIXED is available at time of closing
  • Client pays a commitment fee at application which is totally refunded at closing – the program is free
This program is unique and unmatched in the industry. I’m available anytime to discuss with you or your clients. I have also included current rates below.
Have a great weekend.
Conforming ($417,000 or less)
-30 year Fixed – 4.375% with no points/origination
-30 year Fixed – 4.250% with .875% origination fee
10/1 ARM – 3.875% with no points/origination
10/1 ARM – 3.750% with .50% origination
7/1 ARM – 3.500% with no points/no origination
7/1 ARM – 3.250% with .875% origination
Jumbo (over $417,000)
30 year Fixed – 4.125% with no points/origination
30 year Fixed – 3.875% with 1% origination
10/1 ARM – 3.625% with no points/origination
10/1 ARM – 3.375% with .75% origination
7/1 ARM – 3.25% with no points/origination
7/1 ARM – 3.00% with .75% origination
Richard Young
Private Mortgage Banker
NMLSR ID 659088
Wells Fargo Home Mortgage  |  3280 Peachtree Rd NE  |  Atlanta, GA  30305
MAC G0141-032
Tel (404) 504-2852  |  Cell 404-245-2556  |  Fax 866-633-3523
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