Mortgage Rates at a Glance! Wow! Back below 5%

 

 

Mortgage Brief

March 14, 2011

This information is intended for use by Real Estate professionals only.  Not intended for distribution to consumers.  Rates and terms are subject to change without notice.  Please call Loan Officer for additional pricing and programs.  Princeton Capital is a Residential Mortgage Lender, Licensed by the California Department of Corporations, license #415-0027, and the Oregon Division of Finance and Corporate Securities, license #ML-2847.

Rates at a Glance...

30 Year Conf Fixed 4.875% 0 pt. – 4.983% APR   FHA 30 Year Fixed Conforming 4.75% 0 point – 4.878% APR   30 Yr Agency Jumbo 5.125%  0 pt. – 5.287 APR   FHA 30 Year Conforming Jumbo 4.75% 0  point – 4.894% APR   5/5 Year Jumbo – $ 750,000 - $4 million           3.875%  1 point           3.989% APR

Important Markets!

DOW Jones Industrial     Start of week       12169.88     End of week      12044.40     Change                 (125.48) NASDAQ      Start of week      2784.67      End of week       2715.61      Change                 (69.06) 30-Year Bond       Last week       4.60       This week      4.54 1 Yr T-Bill            0.220% Prime Rate           3.250% 11th Dist COF      1.484% 6 Mo. LIBOR       0.462%

Joe Patterson                             Trish Ellingson 408-674-7438                               408-718-6008 joepatterson@princetoncap.com      trishellingson@princetoncap.com

U.S. consumer sentiment declined in March at the fastest pace since the financial crisis began in 2008, according to survey results released Friday by Thomson Reuters and the University of Michigan. The gauge fell to 68.2 in March from 77.5 in February, marking its biggest decline since October 2008, after Lehman Brothers filed for bankruptcy. The March reading surprised analysts. Economists polled by MarketWatch had expected a level of 75.8, with gains from an improving labor market offset by rising gasoline prices. Meanwhile, the University of Michigan gauge of consumer expectations plunged to 58.3 in March from 71.6 in February, while the current-conditions index declined to 83.6 from 86.9. Rising inflation expectations One-year inflation expectations jumped to 4.6% from 3.4%. “The price of gasoline at the pumps has shot up to $3.67 a gallon, from $3.25 only a month ago,” wrote Paul Ashworth, chief U.S. economist with Capital Economics, in a research note. “That surge not only dampened confidence, but also generated a big jump in households’ inflation expectations.”

Economic Update

Rates-at-a-Glance