WeeklyBasis 08/25/03: Record Existing Home Sales

Please see rate snapshot below for reference the week of August 25, 2003. Housing starts and existing home sales are posted record numbers for July. Many economists are saying that the effects of recently rising mortgage rates will dampen housing numbers next month. However, mortgage rates are still very low relative to historical standards.

Conforming ($50K – $322,700K) – NO POINTS
30 Year: 6.25% (6.39% APR)
15 Year: 5.625% (5.765 APR)
5/1 ARM: 5.125% (5.275 APR)

Jumbo ($322,701 – $650,000) – NO POINTS
30 Year: 6.5% (6.64% APR)
15 Year: 5.875% (6.015% APR)
5/1 ARM: 5.125% (5.275% APR)