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Jackson Hole Local Residential Mortgage Rates for March 6, 2009

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 unchanged while conforming ARM rates are down this morning after it was reported that the unemployment rate rose to 8.1% with 651,000 people loosing their jobs in February. Even as the unemployment rate reaches the highest mark since December 1983… there are still 141,748,000 gainfully employed Americans working hard everyday!

BANK OF JACKSON HOLE

Residential Mortgage Rates for March 6, 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.

PROGRAM CONFORMING
(Loans to $417,000)
JUMBO
(Loans over 417,000)

30 Year Fixed
4.875%
7.875%

15 Year Fixed
4.625%
6.875%

10/1 ARM
5.250%
7.875%

7/1 ARM
5.000%
5.000%

5/1 ARM
4.000%
4.750%

3/1 ARM
5.000%
6.625%

30 YEAR FIXED RATE FHA LOANS TO $693,750: 5.000%

PRIME RATE: 3.250%
ONE YEAR LIBOR RATE: 2.154%
Rates and fees are subject to change without notice. Annual Percentage Rates (APR) are not included.

For more information on Jackson Hole and the Jackson Hole real estate market please feel free to call or email the JacksonHoleExperts at 307-739-8056.