One of the finest loan representatives in the Jackson Hole area is T.R. Pierce from the Bank of Jackson Hole. T.R. Pierce is the senior vice president loan officer at the largest “local” bank in Jackson Hole and for the past few years has been educating the Jackson Hole real estate agents on the current local mortgage rates. As part of our weekly updates we will be posting T.R.’s report about once a week. This should give readers a good idea of local rates. We of course recommend calling T.R. Pierce, SVP Residential Loans, 307.734.8111 for an appointment if you would like additional information on mortgages. Today’s report is below:
“Conforming fixed rates are down again this morning after it was announced that Treasury Secretary Geithner will present a financial sector stabilization plan that will include government guarantees of losses on some assets and greater assistance for troubled homeowners. Plans like the Federal Reserve’s Term Asset Backed Lending Facility (TALF) hold great promise for restarting private credit flows again. Buyers of triple-A rated securities backed by credit cards, student loans and other assets can swap those bonds for Treasury securities that they can use for new financing.”
Residential Mortgage Rates for February 10, 2009
The following rates are thirty (30) day quotes for fully documented, owner-occupied and/or second home loans for borrowers with a minimum credit score of 700 which feature a one (1%) percent loan origination fee and the escrow of taxes & insurance.
PLEASE NOTE THAT CONFORMING LOAN AMOUNTS OVER $417,000 TO $625,500
ARE AVAILABLE AT HIGHER INTEREST RATES THAN INDICATED BELOW.
(Loans to $417,000)
(Loans over 417,000)
30 Year Fixed
15 Year Fixed
30 YEAR FIXED RATE FHA LOANS TO $625,500: 5.375%
PRIME RATE: 3.250%
ONE YEAR LIBOR RATE: 1.987%
Thanks T.R. for the report!
For more information on the Jackson Hole real estate market please feel free to call us – the JacksonHoleExperts at 877-739-8056 or visit or website at ChristyandGarth.com