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Mortgage Rates in Jackson Hole, Wyoming — March 19, 2009

Rates are dropping!

The story in Yahoo goes as follows – Rates on 30-year mortgages plunged this week to the lowest level since January, and are poised to fall further after the Federal Reserve launched a new effort to prop up the flailing housing market.

T.R. Pierce’s report from the Bank of Jackson Hole tells a similar story with rates in Jackson Hole also falling. Christy and Garth Gillespie from Sotheby’s International Realty Jackson Hole are seeing prices fall throughout the market. The Jackson real estate market has probably reached a bottom as far as activity is concerned with only 3 deals in February so now is the time to start watching the market!

T.R. Pierce’s – Bank of Jackson Hole mortgage report: Interest rates are lower this morning as initial claims for unemployment benefits fell last week. Claims for unemployment were down 12,000 from the previous week and there are 5,473,000 people receiving unemployment benefits. But, there are still 141,748,000 Americans with jobs that are keeping our economy going and growing every day!

Residential Mortgage Rates for March 19, 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
4.625%
7.875%

15 Year Fixed
4.500%
6.875%

10/1 ARM
5.000%
7.875%

7/1 ARM
4.750%
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: 2.006%

Thanks T.R.! If you are looking for more information about the Jackson Hole real estate market please feel free to call Garth and Christy Gillespie, the Jackson Hole Real Estate Experts, at Sotheby’s International Realty in Jackson Hole – 877-739-8056 (toll free). You can also visit our website as it is full of valuable information.