Mortgage Rate Week of July 24, 2011

Rates came down slightly this week. They are still hovering near all time lows.  Average 30 year fixed rate is 4.5%.

• Conventional 30 year fixed - 4.5% - 0 Points - Max. Loan Amount $560,000
• 5/1 Conventional ARM - 2.875% - 0 Points - Max. Loan Amount $560,000
• 7/1 Conventional ARM - 3.375% - 0 Points - Max. Loan Amount $560,000
• Conventional 15 year fixed - 3.75% - 0 Points - Max. Loan Amount $560,000
• Conventional Jumbo fixed - 5.125% - 0 Points - Loan amount over $560,000
• Jumbo 7/1 ARM - 4% - 0 Points - Loan amount over $560,000
• Jumbo 10/1 ARM - 4.625% - 0 Points - Loan amount over $560,000

Rates are subject to change. This is a sampling of today's rates.  To get exact quotes contact your banker.  If you have any questions, contact me at johncollins@mris.com