Washington
Mortgage Rates;
Washington is definitely seeing a slowdown in the housing market. Sellers have to be a lot more realistic about their prices and the days when sellers had half a dozen bids for their homes are gone. Prices have been skyrocketing in the past few years so it is inevitable that we are now experiencing a correction in prices.
The Washington economy is still strong and with low unemployment and mortgage rates, it is not all doom and gloom.
As ever with an oversupplied market, buyers have a big choice of properties and can drive some great bargains. Sellers will have to make their offers more attractive by adding on extras to tempt buyers. Shop around and not only will you get a good mortgage rate but you’ll get more house for your money.
Below are examples of rates on offer.
For loans up to $417,000
30 Yr Fixed : rates from 5.25% to 6.375%
15 Yr Fixed : rates from 4.5% to 5.875%
1 Yr ARM : rates from 0.5% to 6.125%
3/1 ARM : rates from 5% to 5.875%
5/1 ARM : rates from 5.125% to 6%
For loans over $417,000
30Yr Fixed Jumbo : rates from 5.625% to 6.375%
15 Yr Fixed Jumbo : rates from 5.25% to 6.125%
1 Yr ARM Jumbo : rates from 4.375% to 6.125%
3/1 ARM Jumbo : rates from 5.250% to 6.125%
5/1 ARM Jumbo rates from 5.375% to 6.250%
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