Rates continue to bounce around slightly as economic news comes in. Last weeks stock market rally, the deal worked out to keep Greece afloat and the end of Quanititave Easing (QE 2) had rates going up. They eased a bit early this week with the debt ceiling debates seem to be making progress and no government shutdown expected. Rates were up slightly this morning with an increase in ADP non-farm jobs. All eyes are on the official June employment data due to be released tomorrow (Friday).
Conforming 30 Year Fixed (up to $417,000) is at 4.375%, High Balance ($417,000 to $729,750) is at 4.625% and Jumbo (over $729,750) is at 5.25%. Other programs are attached.
The loan limits are set to expire 09/30/2011. There has been no announcement regarding changes after this date but tell your buyers to beware if they are in the higher end of the conforming limit ($650,000 to $729,750).
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