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Mortgage Rates in Jackson Hole – It’s Been a While…Has Anything Changed?

Mortgage rates in Jackson Hole had been staying steady for almost a month with a percentage change every once in a while so this should be interesting…. The following is a report from our friend T.R. Pierce who works as the “Mortgage Guru” at the Bank of Jackson Hole. If you read previous posts you will be able to compare where rates have been are then make your own prediction as to where they are going. Fact is – rates are low and if you have good credit you should take advantage of these rates while you can. Timing mortgage rates is like timing the stock market so if you see value in making a purchase or refinancing we suggest you call T.R. Pierce to learn more about the Jackson Hole Mortgage Rates! T.R.’s report follows:

Conforming thirty year fixed, 7/1 and 10/1 ARM rates are down this morning as the U. S. trade gap widened less than expected in March as exports fell 2.4% and imports dropped for the eighth consecutive month. Imports of industrial supplies, materials and capital goods were the lowest since April 2004. U. S. exports to China grew 19.1% in March to $5.6 billion, the highest in five months.

BANK OF JACKSON HOLE
Residential Mortgage Rates for May 12, 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
4.500%
7.875%

15 Year Fixed
4.375%
6.875%

10/1 ARM
4.750%
7.875%

7/1 ARM
4.250%
5.000%

5/1 ARM
3.750%
4.750%

3/1 ARM
5.000%
6.625%

30 YEAR FIXED RATE FHA LOANS TO $693,750: 4.750%
PRIME RATE: 3.250%
ONE YEAR LIBOR RATE: 1.748%

For more information contact the Jackson Hole Experts toll free at 877-739-8056 and ask for Garth!

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.