Jackson Hole Mortgage Rates and Comments – March 11, 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 rate and short term ARM rates are unchanged this morning as stocks continue their rally with financial shares leading the surge. Citigroup and Bank of America jumped more than 10% after Treasury Secretary Geithner said the government will use capital injections to spur lenders to sell distressed securities. The stock market is also responding positively to the $410 billion bill passed by Congress which will boost domestic spending, loosen the trade embargo on Cuba and fund thousands of congressional pet “earmark” projects!
BANK OF JACKSON HOLE
Residential Mortgage Rates for March 11, 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
5.500%
7.875%
7/1 ARM
5.250%
5.000%
5/1 ARM
4.125%
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: 2.258%
For information on the Jackson Hole Real Estate Market keep checking into this Blog! You can also visit our excellent website Jackson Hole Experts where we provide you with Market Updates, Newest Listings, our Top Picks of the Week!
Call Garth at 307-739-8056.
