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RATE BULLETIN – Residential Mortgage Rates

TERM

RATE*

25 YR AM**

30 YR AM**

35 YR AM**

 

12 month convertible

2.65%

4.55

4.02

3.65

 

1 year open

6.55%

6.73

6.30

6.02

 

1 year closed

2.49%

4.48

3.94

3.57

 

2 years closed

3.55%

5.02

4.51

4.15

 

3 years closed

3.85%

5.18

4.68

4.33

 

4 years closed

4.29%

5.42

4.93

4.59

 

5 years closed

4.24%*

5.40

4.90

4.56

 

7 years closed

4.90%

5.76

5.19

4.96

 

10 years closed

5.55%

6.14

5.67

5.37

 

Prime rate

2.25%

 

 

 

 

Zero down – 5% Cash Back Option 

6.25%

 

 

 

 

6.55

 

 

 

 

6.11

 

 

 

 

5.82

 

 

 

 

 

 

 

 

 

*Rates are discounted by at least 1% and are subject to change without notice. Clients must meet discretionary pricing requirements. **Payment Factors: Multiply mortgage amount (per thousand) by “x” YR AM to calculate monthly mortgage payment. 

 i.e. – $200,000 mortgage at 5 year  fixed w/35 yr amortization; calculation as follows; 200 multiplied by 4.24 = $848/month. 

Shant Kaltakjian |  Mortgage Professional