WeeklyBasis 08/18/03: Fixed Rates Still Higher, ARMs Steady

Rates for this week are slightly up from last week as investors sold bonds in preparation for last week’s Fed meeting. Please see snapshot below for August 18, 2003. Historical perspective remains the key theme for the week, as borrowers may be talking about rising rates. Rates now are still close to 30-year lows.

Conforming ($50K – $322,700K) – NO POINTS
30 Year: 6.25% (6.39% APR)
15 Year: 5.5% (5.64% APR)
5/1 ARM: 4.25% (4.40% APR)

Jumbo ($322,701 – $650,000) – NO POINTS
30 Year: 6.625% (6.765% APR)
15 Year: 5.875% (6.015% APR)
5/1 ARM: 5.125% (5.275% APR)